At Experian, we firmly believe the GDPR presents a positive opportunity to transform the way you organise and process your data; increasing the value you derive from it and reinforcing customer-centric business practices that are essential in our data-driven age.
I’m going to explore some of those opportunities below but before we kick off, it’s worth briefly highlighting how the GDPR is different to the existing Data Protection Act 1998, under which all UK businesses currently operate.
It is still difficult to comprehend that one in five businesses of all sizes has experienced a data breach in the past two years (21%). Our latest research (carried out by consultancy company ComRes) has shown this.
The impending GDPR is ready to impact every organisation that deals with Europe. The penalties are big, so preparation is key.
A core theme of the European Union’s General Data Protection Regulation (GDPR), which is to keep consumer interests front of mind at all times, mirrors sound fundamental advice for all companies.
Any company, small or large, depends on its customers for business – and therefore success. They’re the lifeblood. And yet, our research has revealed that in the event of a crisis, specifically a data breach, businesses can become introspective and (unintentionally) put their interests ahead of their customers.
Traditionally, organisations have tackled their SCV requirement through the deployment of an MDM platform. And yet, as Philip discusses in his paper, ‘MDM has always been complex, costly and time-consuming to implement’ and so not necessarily, therefore, in tune with modern business requirements. Layer in an increase in regulation and we have a perfect storm of reasons for organisations to seek an alternative route.
So, what options are there for organisations looking to keep costs to a minimum or take a more agile approach to developing an SCV?
The impact of the GDPR (or the General Data Protection Regulation) on data strategies is rapidly coming into focus ahead of the 25th May 2018 deadline, the date on which it comes into force.
With this in mind, I thought it would be useful to take a look at one particular element of the GDPR that is going to present both opportunities and challenges for businesses. That element is the right to data portability.
If you saw my recent Global Data Management Research highlights post you’ll be aware that there are some pressing issues that organisations are up against in 2017. I was delighted therefore to have the opportunity to explore some of these issues further in a feature article on IT Pro Portal. You can see this below or visit the site to read it along with a wealth of other data-related market perspectives.
Goldfish have a six second memory. The Great Wall of China can be seen from space. We only use 10% of our brain. Myths have an annoying habit of becoming accepted as truth if enough people hear them and enough time passes – and the Data Quality industry isn’t immune to this.
So, I have taken it upon myself to ‘debunk’ some Data Quality myths and provide some great resources to help you succeed in your data quality initiatives.
This month sees the launch of new research in the wake of our recent Global Data Management Research. This new project from Experian and Data IQ focusses on consumer attitudes towards data use in light of forthcoming GDPR compliance. So why does this matter so much?
The results are in. This year’s Global Data Management Research makes for some particularly interesting reading with a clear focus on why growing customer expectation and the forthcoming regulation should be driving the need for better data management.
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