UNDERSTANDING YOUR DATA – THE FOUNDATION FOR THRIVING IN GENERATION PRIVACY
Today, personal data is owned by whoever collects it. Post GDPR, personal data is owned by the subject. GDPR creates a standardised set of expectations as to how your organisation must manage personal data in this new world.
GDPR has been described by some as being the most significant regulatory framework to hit companies since the Sarbanes-Oxley act. With a stated objective to “give citizens back control of their personal data and to simplify the regulatory environment for business” it will impact every single European individual who has shared their personal data with an organisation and every single organisation that holds information on any European individual.
IMPORTANT NUMBERS IN GDPR
Data Subject Rights
Non-compliant organisations may be fined up to 4% of the annual global turnover.
The year the GDPR was approved and adopted by the EU parliament.
The number of hours to report a data breach to the DPA.
The year the GDPR will come into force.
The article which explains more on “the right to be forgotten“.
The large financial penalties of non-compliance have been frequently reported. However, the risk is far greater than one fine. With GDPR allowing individuals to take class actions against organisations that mistreat their data, any organisation that is subject to a data leak / hacking incident can expect to receive individual lawsuits which will not only increase the financial loss, but also consume vast amounts of time in settling individual litigation.
With this understanding in place, data management becomes the primary activity for any organisation getting ready for GDPR.
HOW EXONAR CAN HELP WITH GDPR
Understand where you’re holding personal data, monitor compliance with process
SUBJECT ACCESS REQUESTS
Be ready for exponential increase in requests for data
Easily recall and provide data in consistent format
RIGHT TO BE FORGOTTEN
Identify all stores of an individual’s data so it can be readily erased
Move risky data to appropriate data stores
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MEET THE GDPR DASHBOARD
Exonar’s GDPR dashboard provides a high-level view of an organisation’s information in relation to EU GDPR law. It shows an overall picture of all the data held by an organisation, which is subject to GDPR, where it is held and its characteristics. This approach takes organisations beyond spreadsheets and interviews, and into the realm of making well informed decisions, rapidly.