GDPR has been implemented in entire EU and EEA region including other continent. The purpose of GDPR is to provide individuals with more control over their own data and to moderate how the data is collected, stored, processed and used. It define the type of data that can be collected and stored by companies, clarifies the amount to be collected.
Data controllers – Those who determine why and how data is collected such as a government or private news website.
Data processors – Those who process the data on behalf of controllers, such as an Indian IT firm to which an E.U. firm has outsourced its data analytics.
What is GDPR Compliance?
The GDPR applies to all businesses and organizations established in the EU, regardless of whether the data processing takes place in the EU or not. Even non-EU established organizations will be subject to GDPR. If your business offers goods and/ or services to citizens in the EU, then it’s subject to GDPR. All organizations and companies that work with personal data should appoint a data protection officer or data controller who is in charge of GDPR compliance.
Benefits of GDPR
There are numerous benefits that GDPR provides. Some of them are listed below
Better data security and protection
GDPR regulates the companies to take greater measures for protecting the personal data of their customer.
Putting organizations in better legal position
When organizations are going to take data according to consent of their customers, they will hold higher grounds in case of getting sued by customers.
Better Analysis of Data By keeping records and regularly generating data health reports, you’ll be able to do better analysis on customer’s data. Employee Involvement: Its definitely going to help you better utilize your workforce and assigning tasks more precisely. Revenue Building: Once you have your infrastructure according to compliance with GDPR, you may be able to perform your organizational operations in an efficient manner and hence, generate more revenue.