The digital trust measurement gap
Understanding and measuring digital trust can directly link digital trust to higher revenue, market share, and other indicators, ISACA found. But not all organizations keep track of digital trust. Of those they measured, 94% agreed digital trust was very important or very important to their organization, yet only 23% said they measured the maturity of digital trust.
“While that gap is concerning, I hope that in the next few years we will start to see some of those gaps narrow as organizations better understand what trust might look like and can take better measures to measure and fund it,” said Kazi.
One of the causes is the lack of specific definitions and measurements of digital trust, both inside and outside organizations. The survey showed varying levels of familiarity with the definition of digital trust, with only 33% being extremely familiar or very familiar with digital trust, but this jumped to 55% when presented with the definition. Adding to the confusion, “organizations may have their own idea of what loyalty looks like, but what their customers experience may be completely different,” Kazi said.
The survey also found a lack of confidence in the organization’s digital integrity, with only 52% of respondents confident in their organization’s digital integrity.
Kazi suggests that without adopting a framework it is challenging for organizations to demonstrate improvement through measurement, which in turn helps build confidence. “Digital trust can be this big, complex concept and it’s not always an easy place to start, and without a framework, organizations can struggle to define and measure trust because of its subjective nature, leading to inconsistent ideas and actions.”
A focus on compliance may influence the implementation of digital trust frameworks
The report suggests adopting a framework to guide digital trust programs helps save time and effort, enable cost-effective benchmarking with other organizations, and provide more credibility and third-party verification to support budget and staffing requests.
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