Business owners and leaders are increasingly looking to use the GDPR as an opportunity to overhaul their
data assets and create a permanent competitive advantage.
Many of our customers ask us how the GDPR can help them improve how they control and exploit their data assets: if we can’t identify all the data we capture, why we have it and where we hold it then we must be missing opportunities for using that data.
Up to now, personal data has been an asset for businesses to accumulate and exploit. The GDPR turns that on its head: it recognises that personal data belongs to the individual to whom it relates, and they have rights to know how it will be used and to stop it being used if they are not happy. Those enterprises that recognise and enact this culture change will build brand loyalty with valued customers who return for repeat business.
So it makes sense to embrace the opportunity that the GDPR offers to build data privacy into the heart of how you do business and how you architect your data management solutions.
This tone has to come from the top: if you as a leader describe how your company will be a good custodian of customer data and embed it in the fabric of your systems, it will become part of everyone’s job and you will succeed.
If you strap new controls around the outside of your existing processes without your people really believing it is something you want them to do, you are taking higher risks of non-compliant behaviour and will bear the cost of that additional compliance layer indefinitely.
By contrast, if you maximise the value of your data by building, managing and evolving your data supply chains and data management culture, you can gain a lasting advantage over your peers.