GDPR and its positive effects on business

GDPR and its positive effects on business
27 Január 2020

GDPR and its positive effects on business

The Data Protection Act - GDPR - is already well known. Its role is to give the consumer more control over personal data. The GDPR Act can provide your organization with better cyber security.

Right to be forgotten

The right to be forgotten is one of the main principles of the Personal Data Protection Act. Deleting personal data by a company that disposes of it is not impossible. An EU citizen may ask a company to delete his or her personal information and the company must do so. However, an active attitude to data security and processing is an important factor.

Change of procedures

Companies are encouraged to review their data processing practices. The competent authorities shall have the task of asking questions, as appropriate.

Privacy rules are important to cybersecurity and therefore imply value for business and consumers.

People lose confidence in companies

Companies have reached a historical low of trust from people. Corporate lobbying, corporate litigation, privacy scandals and data breaches have shaken the reliance of companies and consumers simply do not trust them so much. The GDPR Act is in the company's best interests. When companies comply with these law, it means that companies care about the protection of their clients. Customer satisfaction comes first, and this also results from surveys. 90% of consumers find it essential that businesses protect personal data and 60% of respondents are willing to pay more for the brand to ensure that their privacy is not compromised.

Implementation of regulations

It is essential that the implementation of the regulations is implemented correctly. If implemented badly, it can cause more harm than good. This means that there may be disproportionate costs that will thwart innovation or prevent new technologies.

Marketing automation is also an element. To better target ads, data is analyzed and shared. Regulations significantly curtail practice. It is important that companies obtain consent from their customers so that data can be processed. In this case, the company is protected and the customer has an overview of their personal data.

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