Organisations who hold personal data have had over five years to consider how they will be impacted by the General Data Protection Regulation (GDPR). With the deadline approaching it’s fast becoming a reality and so understandably there’s still lots for organisations to do. Many will feel uncertainty around what’s needed to prepare and the extent of the impact.
With 2018 now live and kicking, I decided to take a look back at what subjects proved most popular in 2017 based on our blog. With GDPR coming up fast in May, interest in Data Regulations has unsurprisingly jumped up the list, but read on to take a look at what other subjects piqued your curiosity and delve into some of the best articles from last year.
In recruitment, personal data is the critical differentiator between success and failure. If you can’t find the best candidates and contact them, someone else will beat you to it. This competitiveness for success could also create risk – are you certain that the way your organisation handles candidate data is compatible with changes in data regulation?
On the 25th May 2018, new data protection rules will apply across the EU (including for the UK, regardless of other political movements). These new rules (known as the GDPR) are the first major update to legislation since the 1998 Data Protection Act.
If you are a data quality professional then you have more than likely heard the terms Data Lake, Data Swamp, Data Ocean and even Data Pond and Data Puddle. In fact, stick the word ‘data’ in front of any word used to name a body of water and you’ve more than likely found a commonly used term in the industry (although I have yet to hear of a Data Paddling Pool’). As the gatekeeper of our ever-growing Glossary section, I have picked out some of the most commonly mistaken terms – and with help from our team of experts, I’ve explained how we define them.
The GDPR - we all know it’s coming and we all know we need to do something about it. What isn’t always obvious however is what to tackle first when the elements can be overwhelming -particularly with just 9 months left.
As Head of Propositions for Experian UK&I, I’ve been involved in conversations with many organisations and it’s clear that consent is front of mind. Whilst that is indeed critical for GDPR, it shouldn’t be at the expense of thinking about how you’re going to manage all your existing personal data assets. Having the right processes in place for dealing with data quality is fundamental to ensuring you can address all the actions stipulated in the regulation.
25th May 2018. This is the date that many Data Protection, Governance, Compliance and Marketing people have got pinned up above their desks – in fact many different job roles in organisations of all shapes and sizes are involved in preparing for “GDPR Day”.
We believe that the GDPR presents a great opportunity for organisations, but with less than a year to go before the EU GDPR regulation enters UK law via the Data Protection Bill announced in August 2017, there is still lots to do.
As May 2018 approaches the EU General Data Protection Regulation (EU GDPR) is moving quickly up the agenda of most businesses. It’s also establishing an increasing presence in the mainstream media as consumers become more tuned in to what it means for them.
Wherever you are in your GDPR journey, an absolute must is having a good appreciation of the basic elements of the regulation so that you can plan accordingly. As a useful summary I’ve listed six important elements below, extracted from our whitepaper ‘Defining the data powered future’. I’ve also included some important areas of consideration for each which may help to focus your planning. Of course, it’s by no means exhaustive and we’d always recommend referring to the ICO for more detail.
Banks and Financial Institutions are by now well versed with submissions to regulators both national regulators and to European Central Bank. However the launch of Anacredit regulations, brings a new dawn to the granular level of submissions to the regulators. In a nutshell, Anacredit is applicable for all institutions which has more than EUR25,000 credit risk exposure to a counterparty. No other regulation by ECB has mandated such a granular level of data requirement by financial institutions.
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.