The General Data Protection Regulation (GDPR) is a comprehensive privacy law that came into effect on May 25, 2018, after being adopted by the European Union in April 2016. The law was created in response to growing concerns about data privacy and security, and it aims to give individuals more control over their personal data while setting new standards for how organizations collect, process, and store personal information.
One of the most significant features of GDPR is the strengthened rights for individuals. The regulation gives individuals the right to access their personal data, the right to have their data erased, and the right to know when their data has been breached. It also imposes strict obligations on organizations that collect and process personal data, such as obtaining explicit consent from individuals before collecting their data, implementing appropriate technical and organizational measures to ensure data security, and notifying authorities within 72 hours of a data breach.
Since its implementation, GDPR has had a significant impact on businesses worldwide. Companies have had to invest in new data protection measures, such as hiring data protection officers and conducting data protection impact assessments, to comply with the new regulations. GDPR has also increased transparency and accountability in data processing, which has enhanced consumer trust and strengthened data protection.
GDPR has made it more challenging for companies to use third-party cookies for advertising and tracking purposes without obtaining the explicit consent of users. This has led to greater transparency and control over personal data for individuals, but it has also presented challenges for businesses that rely on third-party cookies for their advertising and marketing efforts. Now these cookies and this control method have ended up in the firing line, as Apple is blocking these cookies and Google plans to block them soon as well.
Alternative options have emerged with the disappearance of third-party cookies. One such option is using geographically coded data, which links market segmentations to various types of geo-signals, such as addresses, zip codes, and coordinates. Starting with geographically coded data offers the advantage of being able to translate the information into multiple channels using the same method, making the channels comparable. And, the reality is that we are similar to our neighbours, and even geosignals such as zip codes can reveal a lot about a user.
Finally, GDPR is a crucial privacy regulation that has set a new global standard for data protection and privacy. It has given individuals greater control over their personal data and made organizations more accountable for the data they collect and process. While GDPR has presented some challenges to businesses, it has also helped to increase consumer trust and transparency in data processing. As technology continues to evolve, it is essential that data protection regulations like GDPR continue to adapt and evolve to meet new challenges and ensure the privacy and security of individuals’ personal data.