GDPR Adds To Confusion Around Retail And Technology

As of May 25th, 2018, each and every single organization, operate inside or outside Europe, which deals with the personal data of EU citizens will have to follow new data protection rules and regulations. Detailed knowledge of collected data and its storing and processing is required for compliance. The law covers all data that includes all private and individual data or any types of data such as names and address to photo and bank details, social networking information and email, health and medical information, IP addresses, and transaction history.

All these make Gdpr vital for every retailer and businesses which holds personal data. There has been a lot of discussion about GDPR in general, but GDPR concepts add much more confusions around retailers and technologies.

There are many misconceptions about GDPR which made more confusions for retailers and other business. Some of them are listed below:

1. Using personal data without user consent for marketing by Legitimate interest.2) Small organisations are exempt from the GDPR laws. 3) After GDPR implementation on May 25, there will be massive data auditing on every business. 4) Companies outside the US and doesn’t have business with European Union countries, it is not affected by GDPR. 5) Companies that are not in the EU is under GDPR.6) GDPR only connects to data that has been provided by clients. 7) There is only one kind of user consent.

Retailers also have many benefits by complaining about GDPR in many ways. Some benefits for retailers that can be explained as:

GDPR which helps retailers to contact people in a timely manner as data is driving sales and marketing for them more and more. GDPR makes retailers to keep the customer information always update continuously.

The customer must also be provided with a description of how their data has been used by the company. It is mandatory that the retail company has a full understanding of how third-party partners use customers’ data to present an accurate description to customers immediately they request this information.

GDPR which may be quite challenging for the retail companies regarding compliance and the value of data depends on how it is used. Generally, many retail companies rely on third-party services for data collection and management.

4 Ways Retailers Can Get Compliant easily:

1. Perform an assessment on the data that you collected from the clients.2) Start a data mapping exercise regularly.3) Develop a plan of actions in which what you have to do with the collected information from the users.4) Don’t panic!

These steps will help retailers to comply with GDPR and can be able to secure the personal information.

Gdpr will be affecting all organizations that do business within and outside EU, handling EU information. Under Gdpr, companies are moving away from the legacy systems towards a company-wide approach to the protection of personal data.