Since the General Data Protection Regulation (GDPR) was introduced across the EU on 25th May 2018, it has become the global benchmark for online data protection. However, in today’s rapidly shifting privacy landscape, simply complying with the regulations isn’t enough. As the online ecosystem moves towards a trust economy, it’s more important than ever for companies to adopt a privacy-centric approach to their digital analytics. By moving above and beyond compliance, organisations can leverage ethical, privacy-driven and minimised data collection to foster consumer trust in their brand and significantly boost their value.
Is the GDPR working?
As the regulation hits the two-year mark, the GDPR is still facing significant challenges. There is a lack of overall enforcement and the ongoing misuse of personal information across the digital world. There have been no substantial fines against the tech giants since the CNIL €50 million hit on Google – and with the current ‘patchwork’ of national procedures and challenges of cross-country collaboration, the EU DPAs have been labelled as slow to act. Nevertheless, increased enforcement measures are expected in the coming year – something also called for by Margrethe Vestager.
The European Court of Justice is expected in 2020 to increasingly influence what is permissible or not under the regulation, in terms of data uses, international data transfers as well as definitions of roles played within the (digital) data ecosystem, i.e. controllers, processors and joint controllers. The European Court of Human Rights is also expected to take significant action – as highlighted by the ‘SyRI’ judgement in the Dutch court. In addition, with the potential arrival of the ePrivacy Regulation (ePR), and European Supervisory Authorities looking to fill the interim gaps in the law, several authorities are taking affirmative action in enforcing digital privacy measures.
The drive for data privacy – 2020 and beyond
Despite challenges to the GDPR, it’s clear that the data privacy movement is here to stay. As well as the wave of privacy regulations being introduced around the world, up to 75% of firms now identify data privacy as a long-term strategic priority. According to Gartner, by 2023, 65% of the world’s population will have its personal information covered under modern privacy regulations, up from 10% today. It’s therefore essential for companies to stay ahead of the game by working with a reliable and entirely privacy centric partner.
By embedding data protection and privacy processing principles into their organisational culture, businesses can leverage GDPR compliance as a key value driver and ensure that they out perform their competitors in a range of areas.
Moving beyond compliance – adding value with an ethical approach
Aside from mitigating the risks of a fine and collateral damage for a GDPR breach, companies can add significant value to their brand by building customer relationships based on transparency and trust. When the World Economic Forum identified a set of levers that businesses can use to improve positive engagement, increasing trust in the use of personal data came out in the top three. According to research, 95% of customers say their trust in a company makes them more likely to be loyal – which includes recommending the company, buying more products and services more frequently, and sharing their experiences. 81% of organisations also say that GDPR compliance has had a positive impact on their reputation/brand image, which translates into improved consumer confidence and satisfaction, and a positive impact on targeted leads for marketing.
By adopting a Privacy-driven ethical approach and digital sobriety, companies can leverage GDPR-compliant, quality data as an opportunity to create a virtuous cycle. When organisations minimise their data gathering, shorter storage time provides fresher, more accurate, privacy-friendly and energy-efficient data. This in turn creates a win-win where businesses can optimise their CX, boost their value and significantly reduce their impact on the planet.
Why AT Internet is a partner you can trust
AT Internet has been a leading independent, digital analytics provider since 1996. We have long held the protection of user data and the respect for user privacy as a core value and guiding principle, and Data Privacy has always been central to our approach. Not only is our Analytics Suite fully compliant with the GDPR, but we are dedicated to setting the best example for our customers and industry peers, with the highest standards of data protection and privacy.
We are fully committed to respecting user privacy and promoting the fundamental values of data protection – providing complete transparency on how we collect, process and use data, both on our websites and those of our customers using our digital analytics solution. It’s part of our DNA.
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