Data protection concerns are shaking up every industry. Are you ready to respond?
Barely a year from now – on May 25, 2018 – the EU’s General Data Protection Regulation (GDPR) will institute a revolutionary new business environment for any company that does business in the European Union. As explained in our Executive FAQ, our webinar, and our blog posts, the GDPR requires significant and fundamental changes in how companies collect and process personal data. Marketing teams and other business units must entirely review and rethink how they use and value data.
The word “revolutionary” is chosen deliberately and carefully. The GDPR mandates a practice of “data minimization” – in direct contrast to the predominant “max data” practice of collecting as much data as possible from any available source.
The UK’s chief data protection officer, Elizabeth Denham, has recently emphasized that compliance with the GDPR is not a “box-ticking” exercise but requires “cultural change” within the organization.
What can you do? Our latest Insight Brief on the GDPR outlines how to ignite conversations and build consensus both internal and with outside technology and service vendors.
With fines of up to €20 million or 4% of global gross revenue, You. Really. Need. To. Pay. Attention.