What Is GDPR And Why Should You Care?

If my own inbox has been anything to go by you've probably had more emails in the last week than in the last month from companies updating their privacy policies, asking you to confirm you still want to receive communications from them. In some cases you may not even remember visiting the websites of these companies or consenting to give them data.

The reason behind all of this is GDPR, a new set of European Union personal data regulations that went into force on 25th May 2018.

But what is GDPR and why should you care, especially if you're not based in the European Union?

To put it simply, GDPR regulations are designed to give users more control over who has their data and what they can do with that data. These rules apply to ALL organisations not just to technology companies. It's not just for the companies who store vast amounts of customer data (which is what many businesses do anyway because it's becoming a key area in maintaining a competitive edge - knowing your customers)

It can broken down into four key areas:

• The right to know what data a given company has about you, and what they use it for.
• The right to know if your data's being shared with outside groups.
• The right to access your data and and take it somewhere else.
• The right to have your data erased - at least in some situations.

The regulations will also affect internal processes in companies - for example one regulation states companies have to notify users of data breeches within 72 hours. Some companies will need to name a Data Protection officer in charge of implementation of these rules.

Companies failing to comply could ultimately face fines of up to €20million or 4% of their total revenue...

If you have any customers in Europe or do any business with Europe you'll need to comply with these regulations. This will mean many businesses around the world are going to have to re-think their data policies. GDPR regulations should encourage all businesses to 'level up' how they trap, store and use user data - consumers are increasingly savvy and more and more people will shy away from dealing with businesses that are not transparent with their data...as recent news like Cambridge Analytica's data harvesting scandal demonstrate.

This is also a very good opportunity to go beyond reacting and review your digital strategy and the role data plays in the wider customer experience. If you'd like to speak about taking your digital strategy to the next level contact me today.

#GDPR, #Dataprotection, #dataprivacy, #DigitalTransformation, #DigitalStrategy