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Winning Breakfast

Breakfast and Insight – what a winning combination!

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Category : Blogs , Events

Station 10 held a Breakfast Business Insight Briefing on the new General Data Protection Regulations (GDPR) on Tuesday 28th March at 11 Cavendish Square.

The event created an opportunity for Data and Analytics professionals, from a broad range of sectors, to get together to understand the key points of the incoming legislation and clarify what impact it might have on current and future practices. It was also a chance to share ideas, and hear about how the GDPR can act as a catalyst for Insight and innovation in data capture. Representatives from fashion, finance, travel, media and retail made for a great mix of experience and opinion and ensured a diverse set of questions and points for discussion.

Andrew Hartshorn, Privacy and Data Protection legal expert, from Shakespeare Martineau gave a detailed overview of the new legislation and the salient points for the audience in terms of preparation. David Ellis, Managing Director of Station10, then offered an industry based perspective on the potential opportunities for insight from GDPR.

Passed by the European Union in April of 2016, the GDPR aims to strengthen data protection for individuals in the EU. GDPR legislation will apply in the UK from 25 May 2018. The key points of the new legislation, point to an evolution not revolution of the current rules.

However, this evolution is due to be backed with much greater force. The GDPR establishes a tiered approach to penalties for breach, enabling fines for some infringements of up to the higher of 4% of annual turnover or 20 million euros.

In terms of scope, the GDPR applies to the processing of personal data of data subjects in the EU. This applies regardless of whether the data processing takes place in the EU or not and where processing relates to activities such as offering of goods or services or monitoring of behaviour. Key aspects of the legislation relate to:

  • Principles of fairness, accuracy and limitation
  • Increases in the granularity of consent which must be granted by an active opt in
  • The ability to withdraw consent and the right to be ‘forgotten’
  • A right of an individual to object to processing and profiling
  • A requirement to demonstrate compliance

Key insight opportunities driven by these changes, presented by David Ellis, offered a refreshing perspective on the chance to use this legislation as a way of establishing a proper value exchange for the provision of consumer’s personal data. The current digital environment can be described as one in which consumers demand choice and control over their information, with industry disruptors cementing this exchange at the foundation of their proposition. The ability to improve your potential in harnessing this value exchange lies in three key areas:

  • Monitoring and updating how you use your organisation uses data
  • Understanding what drives your customers to give consent
  • Creating data features that help support your customers and their data

What’s important about this is that embracing these opportunities to change the way you get consent increases willingness to share!

A clear set of next steps for organisations were outlined in the session. These included the need to:

  • Audit your current data-driven activities, processes and governance
  • Consider using privacy-compliant data layer and streaming tools
  • Use anonymous or pseudonymous techniques, and hashing if required
  • Establish why your customers share data with you, and how you can differentiate from your competitors
  • Build out your data propositions and features to enable customers to give consent

For more information on GDPR or to get advice on how to ensure your company is set up to comply to GDPR please contact David Ellis on david.ellis@station10.co.uk

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