Data analytics is transforming how business is conducted
Most things, interactions and behaviour are quantifiable and measureable. Availability of vast amounts of information and a matching analytical toolkit permeate and transform most industries. Businesses seek to leverage the information that is ever more readily available to reduce costs of doing business, and to expand their business.
Some of this information, however, is protected by law as personal information. Data protection law is rapidly becoming one of the key areas of law, with which businesses need to comply in order to maximize the benefits from their data pools while avoiding possibly painful penalties.
Changing compliance landscape
With the upcoming European General Data Protection Regulation (GDPR), businesses not only across Europe, but all over the world will face new challenges in the area of data protection law.
While legal compliance in itself – as well as the substantial possible fines – is certainly a good enough reason to take data protection seriously, there is more. Businesses have come to realize that data breaches are not only costly, but also damaging for businesses’ reputation.
Therefore, a good strategy on data protection and data security is seen as a vital component to foster greater trust of employees, customers and suppliers alike. And trust is, after all, the key to business growth and success.
How we can help
We have lawyers advising on data protection law in most European jurisdictions with DWF offices. They each advise clients from all sectors and industries and go to considerable lengths to understand relevant technologies and business practices, and are able to communicate the legal concepts and requirements to clients without legal background in the client’s own language without unnecessary legal jargon.
Our services in the area of data protection include advice on:
For more information visit our Technology and Communications sector >
GDPR headlines have focused on the 'new': administrative fines, rules on consent, and notification of data breaches. What about the new data protection 'principle' – accountability? This article will explore the different ways to show accountability, which is important for compliance, and also thinking of data as part of the day to day running of your business.