Over the last year and a half, you have undoubtedly seen an uptick of website popups and emails from brands about new privacy policies. Most of these are the result of GDPR (General Data Protection Regulation), a set of frameworks instituted by the Euoropean Union. GDPR went into full effect in May of 2018 and can levy fines into the billions for noncompliance.
The regulations have a wide-ranging set of impacts – and not just for businesses in Europe.
So, what does this mean for your business and what can GDPR tell us about the future of digital privacy?
While the regulations provide a single set of rules for companies doing business with EU members, this can also apply to companies serving EU citizens. With similar changes potentially crossing the pond to the United States, now is a good time to think about your data collection and management strategy.
While the full set of regulations are complex, GDPR boils down to giving users increased control of their personal data. The definition of ‘personal data’ has expanded from basic things like names, email addresses and credit card numbers, to seemingly less sensitive info like IP addresses.
These regulations also provide users more rights to have their data removed, provided that it serves no significant purpose.
So, companies need to clearly articulate what data is being collected, and what is being done with it. There has never been a better time to evaluate what you (or your technology partner) is doing with collected data.
If you still need a reason to give this attention, a similar law has been passed in California, and tech heavyweights such as Apple’s Tim Cook have pressed for a GDPR-like law for the U.S. Meanwhile, the latest Pew Research statistics show that nearly 80% of Americans have concerns over data usage.
All of this underscores the need to protect your collected information and work with a partner like TicketSocket. We at TicketSocket are transparent about how we collect and use data. With TicketSocket, you can control all that is done with collected data, which now more than ever is essential for both marketing efforts and legal compliances