New reforms under the General Data Protection Regulation (GDPR) started as an attempt to standardise data protection regulations in 2012. The European Union intends to make Europe “fit for the digital age.” It took four years to finalise the agreements and reach a roadmap on how the laws will be enforced.
The GDPR presents new opportunities as well as difficulties for businesses, digital companies, data collectors, and digital marketers. On the one hand, these regulations will make it more difficult for businesses and data mining firms to collect and analyse customer data for marketers, while on the other, they will present an opportunity for data collectors to innovate and enhance their techniques. This will lead to a better collection of more meaningful data, as customers will be directly involved.
The GDRP will go into effect on May 25, 2018. It will apply to all organisations and businesses that process personal and marketing data from European residents.
There are six underlying principles of GDPR.
Organizations must ensure that the personal data of users is processed transparently, lawfully, and fairly.
Personal data of users must only be collected for explicitly specified and legitimate purposes.
Data collectors must only gather limited amounts of personal information that is adequate …