What is GDPR and How Does It Impact Your Business?

What is GDPR and How Does It Impact Your Business?

Post summary:

  • What is GDPR and what does it stand for? The new EU regulation has affected businesses worldwide. In this article, we explain the what, the how and the why of the new EU privacy law.
  • What are the business implications of GDPR? How will your business, whether based in the EU or not, comply with the long list of “articles” under GDPR?
  • GDPR will affect the way you communicate, but how? The way you handle personal data has now changed, and this applies to both prospect and customer data.

The internet has dramatically changed the way we communicate and how we handle everyday tasks.

We send emails, we share documents, we pay bills and we purchase goods by entering our personal details all online and without a second thought.

Have you ever stopped to wonder how much personal data you have shared online?

Or what happens to that information?

We’re talking about banking information, contacts, addresses, social media posts, and even your IP address and the sites that you’ve visited are all stored digitally.

Companies tell you that they collect this type of information so that they can serve you better, offer you more targeted and relevant communications, all to provide you with a better customer experience.

But, is that what they really use the data for?

This is the question that has been asked and answered by the EU, and why in May 2018 a new European privacy regulation called GDPR was enforced and permanently changed the way you, as a business, collect, store and use customer data.

In a study of more than 800 IT and business professionals that are responsible for data privacy at companies with European customers, Dell and Dimension Research found that 80% of businesses know few details or nothing about GDPR.

Recently, TrustArc found that only 20% of businesses believe they are now GDPR compliant.

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