Unless you’ve been living under a rock for the last few months, you’ll no doubt have heard all about GDPR and in all honesty, you probably found yourself sick to the back teeth of hearing about it.
Though GDPR has not been in force for very long, it has already been causing some considerable disruption in the business sector. But what precisely is GDPR and what are the primary benefits that it has to offer?
What is GDPR?
GDPR, or the Global Data Protection Regulation, is a brand-new regulation which has been created in order to regulate how businesses utilize personal data across the EU. This regulation is a replacement for the Data Protection Directive, which was established back in 1995.
The GDPR has been created to provide individuals with considerably more rights over how their personal data is used and processed. As an example, under GDPR, individuals now have the power to demand companies delete any personal information they may hold about them.
You see, before GDPR, each member of the EU had different rules, laws, and regulations with regards to data processing, which meant that regulating data policies from location to location was an absolute nightmare.
Under the new act, the rules and regulations are identical, which makes enforcing them a lot easier. If a company is found to be in breach of these rules, they can face a potential fine of up to 20 Million Euros, or 4% of the entire global turnover of the company – whichever is greater.
What exactly is personal data?
When we make reference to the personal data that companies may have collected, this can include things such as:
- Full name
- Photograph of the individual
- Date of birth
- Bank details
- IP address
- Medical information
- Telephone number
- Political opinions
- Ethnic/racial information
- Biometric data
- Sexual orientation
- Email address
How will GDPR benefit businesses and individuals alike?
Though a lot of people have focused on the negative aspects of GDPR, in truth, there are actually a number of positives too, including:
- Improved data management
- Increased online security
- Enhanced customer confidence
- Fewer maintenance costs
- Improved professional reputation
- Accurate, up-to-date, and relevant data
This infographic from Online-Shopping.ie looks at the main 55 things you need to know about GDPR in order to remain complaint:
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