- Posted by Poorva Sundriyal
- On July 27, 2018
What is GDPR?
GDPR (General Data Protection Regulation), is a new data protection and privacy law for all individuals under the European Union (EU) and European Economic Area (EEA). It protects the flow of personal data and gives its more control to the owners.
With the advent of the internet and more social media presence of the consumers, there is easy availability of their private data that was collected and shared for various businesses purpose. The relevant consumer had no idea of this sharing of private data. GDPR came as a rescue for this and has enhanced customer-experience for great consumer business relation.
GDPR, protect the flow of private data of the consumers, now they can control the outflow of the data that was shared on different platforms. Seeing the competitive scenario it becomes essential to make your business customer-centric and give more importance to customers. Henceforth, GDPR has improvised customer experience and it becomes essential for every business to be GDPR compliance. It is an opportunity for organizations to prove their worth to existing and new customers. The regulations are not just for EU organizations, but also for the organizations partnering with EU citizens.
Benefit from GDPR
The GDPR is the latest regulation added in the EU law and the businesses are focusing on implementing it for improving the customer experience for the existing or new consumers. It is the path that will change the marketing scenario, as more and more customers are into their personal data protection, thus businesses that are GDPR compliant will surely mark an impact. Moreover, there are various underlined benefits of GDPR, that will make business more customer-centric and better in competitive scenario.
- Transparency: GDPR promotes transparency and trust with the business and customer. It governs the data of the customer and respects their privacy. With consumer data privacy becoming a top priority in the current era, it becomes necessary to deal with the private data. General Data Protection Regulation, GDPR, is the new introductory law by EU that ensure the right of consumers to control their personal online data, and organizations are required to protect the data consumers share with them. This implication builds a trust level between the business and its prospective consumers bringing a trustful and transparent customer experience.
- Intelligent solution: Previously it was big data, businesses need to just save the huge data and that had no aspect on customer front, it was all about gaining more market hold by an analytic overview. But capturing the legally allowed data (GDPR compliance), and applying customer intelligent techniques you can track better user behaviour and buying desires. This intelligent solution by the GDPR compliant data will bring better customer experience of the business and help in optimizing the offers with a high likelihood of success.
- Adding new data value: Data always use to be an asset to the organization and with the implication of GDPR, organization are bound to gain the data that is allowed by the customer. The organizations that are using data allowed by consumers are gaining their confidence and has been in competitive advancement. By harnessing data that is GDPR compliant, the businesses get ahead of other companies, it gives a chance for companies to re-engage with the customers for educating them about the data sharing. The engagement will harness a new relation with the customers and buy their trust in the company.
Overview: Businesses soon need to be GDPR compliant for gaining the foothold in the competitive market. The latest updated regulation in EU law help in the personal data protection of the consumers. It makes a law for companies to protect the privacy of consumer data shared with them and for consumers to manage their personal data over the wide internet. It has been a huge success in gaining customer trust and making businesses to be customer-centric.