05 Mar The Benefits of GDPR
The rise of EU’s new law, which is General Data Protection Regulation or GDPR has caught the attention of many individuals, vendors and consultants – they are now gearing up to help and make this law a success.
In GDPR, it aims to strengthen and unify the date of all the people living in the EU. Basically, GDPR is giving back the authority of each individual to take control of their own personal data. New sets of requirements regarding data collection will be implemented, thus, protect the personal information of the citizens.
But the question is, is GDPR actually good for the business?
Allow us, myLearningKey to give you some of the benefits of GDPR which can make you say that this new law in EU is a good thing:
Privacy breaches are the results of human negligence. It happens almost normally and typically in companies who do not have high-maintenance security. But with GDPR, this human error can be mitigated because of the role-based and compartment-level security that it can give and be implemented in your company. Data that are shared with organizations or individuals will now need to have the consent of where the data actually came from. For example, if one withdraws direct marketing from a company, all the personal data that he gave will be restricted subsequently. Moreover, if his data was ever transferred to a third-party country outside EU, he will still be protected by the GDPR law.
2. Business Reputation
If a business is safe from breaches and cyber-attacks, then, it will be a major boon for the business itself. Customer loyalty will also increase and leads will generate as well. No individual likes to have their data be stolen away or anything; so, a business that implements GDPR will definitely stand out from the rest.
3. Centric to the customers
Social media made it easier for companies to engage more with their customers, as well as gain better insights, but, it has never helped them with customer centricity at all. However, in GDPR, any shape of data can be processed and bring silos together to see the data in a 360-degree view.
4. Data Accuracy
GDPR lets you garner accurate data that can be stored in your company’s database. It can also be accessed and validated through GDPR and since GDPR requires data controllers to identify if there are any errors in the data, the level of accuracy will be heightened and improved.
5. Data storing
In GDPR, data will now have the capability to establish patterns and trends, as well as predict future circumstances which will be beneficial to the business processes like in launching new products. The GDPR technology is cost-effective because it reduces your operational costs.
Indeed, GDPR will become a priority for most organizations in the future. GDPR has good chances of improving the processes of companies, and help them move forward.
Moreover, if you want to learn more about GDPR or any business course, come to us at myLearningKey and be equipped with the trending and must-learn progressions that the IT and Business World now have. Our courses are accredited by their framework owners and our trainers are certified professionals that you can get knowledge from.