As of May 25, 2018, the General Data Protection Regulation (GDPR) is now in effect. This new regulation has caused a lot of confusion for businesses when it comes to customer data. Many companies are unsure if they are GDPR compliant, and many people are unsure of what GDPR actually is. We will explain GDPR and how it affects customer analytics. We will also provide tips on how to become GDPR compliant.
What is GDPR and why was it created?
The General Data Protection Regulation (GDPR) is a new regulation that was created in order to protect the privacy of European Union citizens. GDPR replaces the Data Protection Directive, which was passed in 1995. GDPR is more comprehensive than the Data Protection Directive, and it sets out specific rules regarding how personal data must be collected, processed, and stored.
GDPR applies to any company that processes the personal data of EU citizens, regardless of where the company is located. This means that GDPR will affect companies based in the EU, as well as companies based outside of the EU that process the personal data of EU citizens. GDPR applies to all types of personal data, including names, addresses, contact information, and financial data.
GDPR requires companies to get explicit consent from individuals before collecting, using, or sharing their personal data. Companies must also provide individuals with clear and concise information about their rights under GDPR, and they must ensure that individuals can easily exercise their rights. GDPR gives individuals the right to access their personal data, the right to have their personal data erased, and the right to object to the processing of their personal data. GDPR also requires companies to report any data breaches within 72 hours.
GDPR imposes significant fines for companies that violate its provisions, including up to four percent of a company’s global annual revenue or 20 million euros, whichever is greater.
GDPR was created in order to give individuals more control over their personal data and to make it easier for them to exercise their rights. GDPR also imposes stricter rules on companies that process personal data, and it provides for stronger enforcement of those rules.
How does GDPR affect customer analytics
GDPR affects customer analytics in several ways. First, GDPR requires companies to get explicit consent from individuals before collecting their personal data. This means that companies need to be very clear about what they are collecting and why they are collecting it. They also need to ensure that individuals can easily exercise their rights to access, erase, and object to the processing of their personal data.
GDPR also requires companies to report any data breaches within 72 hours. This means that companies need to have systems in place to quickly identify and respond to data breaches. GDPR also imposes significant fines for companies that violate its provisions, which provides a strong incentive for companies to comply with GDPR.
In order to comply with GDPR, companies need to review their customer analytics processes and make sure that they are GDPR compliant. This may require making some changes to how personal data is collected and processed. However, complying with GDPR is essential in order to protect the privacy of EU citizens and avoid costly fines.
Tips on how to become GDPR compliant
GDPR compliance starts with understanding GDPR and what it requires. Once you have a good understanding of GDPR, you can start taking steps to make sure your company is compliant. Here are some tips for becoming GDPR compliant:
- Get explicit consent from individuals before collecting their personal data.
- Provide clear and concise information about GDPR and individuals’ rights under GDPR.
- Make it easy for individuals to exercise their rights under GDPR.
- Have systems in place to quickly identify and respond to data breaches.
- Review your customer analytics processes and make sure they are GDPR compliant.
By following these tips, you can help ensure that your company is GDPR compliant. GDPR compliance is essential to protecting the privacy of EU citizens and avoiding costly fines.
Examples of businesses who have successfully become GDPR compliant
Some businesses that have successfully become GDPR compliant include Amazon, Google, Facebook, and Apple. These companies have implemented a variety of measures to ensure compliance with GDPR, including getting explicit consent from individuals before collecting their personal data, providing clear and concise information about GDPR and individuals’ rights under GDPR, and making it easy for individuals to exercise their rights under GDPR. In addition, these companies have systems in place to quickly identify and respond to data breaches.
This is in fact the biggest issue with the GDPR as we see it. That it was designed to limit the influence and access to personal data for these global giants but in the end it is they who have the capacity to comply, which makes it even harder for smaller EU-based players to compete.
The future of GDPR and its impact on businesses
GDPR compliance is essential to protecting the privacy of EU citizens and avoiding costly fines. In addition, GDPR has forced companies to rethink their data collection and processing practices, and many companies are still trying to come into compliance with GDPR. As a result, GDPR is likely to continue to have a major impact on businesses in the future.
GDPR has been in effect for over a year now, and it has had a major impact on businesses around the world. GDPR compliance is essential to protecting the privacy of EU citizens and avoiding costly fines. In addition, GDPR has forced companies to rethink their data collection and processing practices, and many companies are still trying to come into compliance with GDPR. As a result, GDPR is likely to continue to have a major impact on businesses in the future.
