GDPR monitors and regulates the exportation of personal data outside EU. The data of individuals is resold to other organizations without the consent of the owners and the organizations use the data to market to the customers; for example, spam mails. Racial or ethnic data, sexual orientation, political opinions and other data is under the protection of GDPR.
Compliance with GDPR improve the confidence of customers in the organization as the custodian of their private data. Under GDPR, you need a data protection officer who ensures that the customers’ private data is secure by developing and implementing security measures for that data. The data protection officer enables the organization to meet the standards of security for private data in each company as stated in the GDPR. The officer also conducts a regular audit on data processing activities. When customers build trust in your brand, you will have more sales among other benefits.
Organizations benefit from a reduction of data maintenance costs when they adhere to GDPR requirements, policies, rules, and regulations. GDPR needs you to stop using applications and data inventory software that are not useful to your organization. The company will no longer be spending on maintenance costs of systems which are not beneficial to you. Since these systems are not of many benefits to the organization you will not be so careful to secure them; hence intruders will use them to access data of your customers because customers are still using them. These systems are costly because you have to pay for updated versions, train new hires on how to use them and so on.
GDPR requires all organizations that comply with its policies and regulations to update their databases frequently. Errors in a database will generate reports that will mislead decision-makers and lead them to make wrong decisions. An organization can make a wrong investment when it generates un-updated reports from their database. You may end up buying assets thinking that you have money because of the financial reports that are generated from databases that have errors not knowing that your company may run bankrupt for purchasing the asset.
If you are under GDPR, you must involve your customers through personalized communication before you collect data about them. This saves the organization from costs of pursuing customers were not interested in buying their products or services.
Your data securities and has when you adhere to GDPR. The many innovations in information technology are enabling cybercriminals to get access to systems that have weak security. GDPR gives authority to a few professionals in the organization to access the company’s data. This helps the organization to trace the origin of cybercrimes if they occur quickly. People who have access to the data can quickly remember that people they have shared passwords with among other things that can help solve the situation faster. This helps the authorities to help the organization find out the source of the crime early enough to prevent more damage to the data.