General Data Protection Regulation (GDPR) - one year on…
Every nook and cranny has been explored, analysed, searched and found. Different areas and departments have actually talked to each other and found out what their internal world "really" looks like. In many companies, these insights — who collects which data, for what purpose and where they are stored and processed — have led to more transparency (about the existing data) and a deeper understanding of the significance of data.
The risk of company-crushing fines has elevated data protection compliance to a key boardroom issue. Twelve months on, however, the worst fears — heavy penalties, costly projects with complex software implementation and a wave of litigation and compensation claims due to data protection violations — have so far failed to materialise. Heise Online reports that so far only 75 fines have been issued in Germany for GDPR breaches.
The issue of "ensuring compliance with the GDPR" and making sure you do that on an ongoing basis has become an integral part of almost every project that involves data. It's not just a matter of personal data! This is something that we discuss again and again with our customers.
Overview and transparency in data management
The challenges of GDPR are in the details. That's why we help companies to comprehensively analyse the current status of their data management strategy with our GDPR Health Check. Together, we can identify and prioritise the necessary steps with our proven methodology and set up a detailed project plan.
We too, have taken up this challenge and succeeded in achieving our targets. Take, for example, our newsletter dispatch. We have written to the newsletter recipients on our previously "collected" list and cancelled the service - despite the risk of losing many subscribers because the double opt-in process set out in the GDPR required a new registration with corresponding consent.
The result surprised us: hardly any losses, positive encouragement, updated customer data and (apparently, word of this campaign had spread within the companies) people subscribed who had not previously been on the list. Have you missed this opportunity? Subscribe to our newsletter now!
GDPR as a chance
The strategic management of large amounts of data and the measures to improve data quality pose a formidable challenge to many companies, but at the same time offers the unique opportunity to gain a 360-degree view of their customers and products and to consistently eliminate inefficient processes. Seize the chance! Increase the quality of your data and improve your Master Data Management.