Data privacy is becoming your newest asset.

With stricter data privacy regulations such as the GDPR in place, securing your data makes you a trusted partner - for your customers as well as for partnering companies.

What the gdpr will change

Personal customer data has turned into the main source for scoping new business opportunities for any company. The GDPR coming into effect May 2018 implies significant changes on the handling of personal data. You might be at risk of losing a lot of flexibility in handling your customer data.

Additionally, you are obligated to provide entire transparency over your data usage and processing.
Resulting limitations on data usage outside the realm of your customers’ consent limits the potential for new data-driven business opportunities. If you do not act and protect your customers’ data, you might face heavy fines.

"Processing shall be lawful [...] if and to the extent that [...] the data subject has given consent to the processing of his or her personal data for one or more specific purposes."

Article 6 of the GDPR

Customer consent

The GDPR requires you to put privacy first when designing new product and engaging with your customers. In order to process personal data for simple analyses or product development, you need the consent of every one of your customers.
This is quite difficult for existing data and also complicates gathering data from new customers. 

"Personal data shall be adequate, relevant and limited to what is necessary in relation to the purposes for which they are processed (‘data minimisation’)"

Article 5 of the GDPR

Storage limitations

The GDPR renders gathering data fro the sake of gathering data nearly impossible. You will always need to have a valid reason and clear application case in mind before you record private customer data.

"The GDPR does not concern anonymous data"

Recital 26 of the GDPR

Data anonymization

Entirely anonymous data is exempt from the GDPR. In case that you are unsure about how you will use existing customer data  or are not able to get customer consent, anonymizing your data with Statice will solve this problem.

"Non-compliance with an order by the supervisory authority […] shall […] be subject to administrative fines up to 20.000.000 EUR, or in the case of an undertaking, up to 4 % of the total worldwide annual turnover of the preceding financial year, whichever is higher."

Article 83 of the GDPR

Penalties

This regulation has teeth. In case you do not comply, you are possibly facing massive fines.
Therefore, it is important to make sure that you are prepared. Ideally, you secure your data wherever you can. 

Talk to us today in order to see where
we can help you with GDPR compliance.

are you prepared?

Get in touch with us today so that we can help you handle your data more efficiently and more secure and to set you up for new data-driven opportunities!
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