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Impact of GDPR on Businesses

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In the Europe, huge data is generated on daily basis because people are using their personal information too much. One of the simple examples is that when a person wants to buy something from online shopping store, he or she has to insert his or her personal information such as full name, contact number, email address, photo, specific identity proof and webpage captures IP address automatically for that person. Person insert all information in the given field and did not think that why he is inserting all such information and what online shopping store will do with his personal information.

European Union (EU) has maintained rules and regulations so that there will be no misuse of personal data of an individual. An individual will get rights to see where his information is used by business and why. It is right to every individual that he must have to know about all rights which he is getting through the GDPR. List of all rights are given here:

  1. The right to data portability
  2. The right to be forgotten
  3. The right to access
  4. The right to object
  5. The right to be informed
  6. The right to be notified
  7. The right to restrict processing
  8. The right to have correct information

EU has explained all such regulations into the General Data Protection Regulations (GDPR) which were published on 25 May, 2018. There is also need of data security. All businesses have strong implications of GDPR Compliance for Data Protection and Storage Infrastructure. GDPR is given by EU into year 2012 and still many of the businesses and companies are not following its rules. So, its update will publish in May 2018 and all businesses in European region have to adopt GDPR. Huge methods are given in GDPR for data protection and security. GDPR provides complete security to data and customer is protected but business owners will have many problems.

In the European region, GDPR will apply to all businesses and organizations so that data processing takes place in effective way.  If your business provides services and goods to the customers, then it is subject to follow GDPR rules.

In Europe, all companies and business will have to hire a person who is in master of data protection methods and also know how to control data accessing. Huge amount of penalty is also decided for companies who will not hire data controller. Companies, who do not follow GDPR, may have to pay fine up to 4 % annual global revenue or 20 million Euros. Business owners think that GDPR is only related to IT but it is myth. GDPR has best implications which also handle marketing and sales activities of the business.

Before following GDPR, all companies should have to do some preparations which are listed below:

  1. Map your company’s data
  2. Check which data is important for you and which you have to delete
  3. Put security measures and safeguards on your whole data
  4. Read and review all documentation for all type of data
  5. Create procedure for managing personal data

 

Helen Duffy

The author Helen Duffy