A recent report from Experian determined that consumers are more likely to forgive organizations that experience a breach when they receive timely notification.
Consultancy KRC Research surveyed 1,000 US individuals on behalf of Experian to gain insight into the impact of data breaches from the viewpoint of consumers. According to the research, consumers are more likely to stay with a business if the response to a breach is prompt, transparent, and properly managed.
In fact, 90 percent responded that they’d be more forgiving of a breached business if they had a communication plan in place beforehand. Just 57 percent said they’d be “somewhat” forgiving under the same circumstance. The report also showed older respondents were much more likely to forgive a breach. However, many organizations do not plan ahead, especially in the healthcare industry.
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