Commissioned by O2 UK, the report by think tank Demos sheds light on how increasing number of users lack confidence in companies when it comes to their private data. Out of the 5000 respondents, 73 per cent of users said that they wanted the right to delete their personal information stored on sites. Nearly 70 per cent of users felt comfortable about sharing their data with government sites if they are actually shown what is being held and with whom the data will be shared.

People are weary of sharing personal information as they are not made aware of the purpose for which the data is being collected. O2 CEO Ronan Dunne said, “Increasingly people are fearful of sharing their data largely because companies and government haven’t been good at clearly explaining how they use it”.

According to the report, there are chances of knock-on effect on the economy. The estimated worth of online economy is hundreds of billions and with increased number of behavioral advertising, user behavior tracking and information sharing users have to be put in the driver’s seat as compared to governments or companies that hold data.

“There needs to be a unified push on transparency. Otherwise there will always remain confusion and concern amongst the public about inconsistent practices and standards” said the CEO.