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What is the Importance of GDPR in Businesses?

By CIOReview | Monday, September 28, 2020

Governments have implemented GDPR to not misuse the data they have gathered from their customers.

FREMONT, CA: In the past few years, the internet has dramatically transformed how people communicate and manage their daily tasks. Today, people send emails, share documents, purchase goods, and pay bills by entering their online platforms' details.

Companies also tell the people that they are gathering such personal information to serve them better. It also helps them provide more targeted and relevant communication to offer a better customer experience. However, there were still doubts among many people about the actual use of the data due to which, in May 2018, a new European privacy regulation known as GDPR was imposed. After enforcing GDPR, the way businesses collected, used, and stored customer data permanently changed.

What is GDPR?

GDPR is known as the General Data Protection Regulation. The regulation that comes with GDPR has been applied in every local privacy law in the entire EEA and EU region. Furthermore, it will apply to every company selling and storing personal information about the citizens, consisting of companies on other continents.

Therefore, with the help of GDPR will offer the citizens of the EU and EEA better control over their data. It will also assure them that the information is securely protected in Europe. According to the GDPR directive, personal data can b defined as the information related to an individual's photo, bank details, location details, computer IP address, name, email address, updates on social websites, or medical information.

Moreover, there is no difference between a person's data in their work roles, private or public. The business conducted in the B2B environment is done by interacting and sharing information about each other. Here are some of the fundamental rights of FGP

The right to be forgotten- If the consumers are no longer a customer of the business, they have the right to delete their data.

The right to be informed- When the companies gather data, they must inform the individual. Consumers have the option of whether they want to offer their data or not.

The right to access- Individuals have the right to access their data and ask how it is being used in the company.