The usefulness and value of data to your business

The usefulness and value of data to your business

Yvonne Morris, of Cloud Legal, writes:

Having passed my CIPP/E exam, I am now a GDPR Practitioner and so I have been attending events on the impact of the new GDPR Compliance regulations and general data compliance.

A recent conference I attended centred on the usefulness, value and commercialisation of data (underpinned by the GDPR).

Your data could be invaluable for your business. Collect and use it lawfully under the GDPR and then make the most of it whether that be for research and development purposes in order to provide useful feedback to encourage change and innovation and/ or commercialise it.

However, when you do collect data and use it in certain ways, do ensure you have collected it lawfully in accordance with the GDPR requirements and that you use that data for the specific stated purposes that you collected it for otherwise you are going to have to gain more consents incrementally to cover off your requirements.

From there, ensure that you stick to your retention periods and you apply “appropriate organisational and technical security measures” to the storage of that data (data compliance).

If you are going to transfer it to a third party processor or internationally, ensure that you have the correct authorisations and permissions and appropriate safeguards in place. Failing to follow the GDPR requirements with your big data (or small data) could result in a breach of the law resulting in penalties being issued and even worse, tarnished reputations and increased liabilities.

CloudLegal can help if you have any queries around GDPR.

If you look after your data and respect the privacy and fundamental freedoms of your data subjects, you will be liberated to get the most out of your data.

CloudLegal offers a DIY GDPR audit for independents and micros here – http://cloudlegalsupport.com/general-data-protection-regulation-gdpr-ready-audit/ or a consultant-led comprehensive GDPR onsite audit for SMEs delivered by fully trained lawyers and privacy professionals – http://cloudlegalsupport.com/how-can-a-cloudlegal-gdpr-consultant-help/

For more reading, visit: https://ico.org.uk/for-organisations/guide-to-data-protection/big-data/

data compliance
By |2017-12-06T16:58:45+00:00December 6th, 2017|News|0 Comments