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.
Article 6 of the GDPR
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.
Article 5 of the GDPR
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.
Recital 26 of the GDPR
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.
Article 83 of the GDPR
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.