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by Bastiaan van Drempt Monday, November 26, 2018

GLOBAL Data Protection Regulation; A ‘Smart Enterprise’ model

GLOBAL Data Protection Regulation; A ‘Smart Enterprise’ model
The General Data Protection Regulation (GDPR) expected to go live in May, 2018 must not be seen as a regulatory taxation. This EU law represents a positive incentive to finally run a business effectively by placing data at the heart of enterprise strategy.GDPR is a simple concept underpinned by the premise ‘ask before you take’ to encourage organisations to ‘do the right thing’ which is to check in with their prospective customers prior to using their data for a different purpose.

The real game-changers are enterprises that consistently think, operate and act in this way to stimulate the right openness, transparency and trust.

GDPR covers the following non-exhaustive list of policies which are fundamental to ‘know your business’ but also represent steps to embark on a digital transformation journey:

  •       Cyber Essentials
  •       Asset Register
  •       Data Classification, Processing, Protection and Impact Assessment
  •       Information Security & Awareness Training
  •       Business Continuity Planning
  •       Security Incident & Access Request protocol
  •       Website Cookie, Privacy & Terms of Use

A smart enterprise converts its central platform (e.g. online website) into a single customer interface to automate all business life cycle events touching on customer data.

Integrating Cloud Tools with its online platform allows a smart enterprise to collect, store and analyse data in a separate, scalable and secure location.

The key differentiator here is that any information collected represents not random but engaged data to produce commercially valuable customer insights thereby successfully navigating the ‘Garbage In, Garbage Out’ principle.

Using data to ‘Know Your Customer’ empowers an enterprise to construct a dashboard depicting a single customer view to turn ‘noise’ into ‘signal’ to create a better decision-making framework to:

  •       Deepen supplier, vendor or stakeholder relationships
  •       Personalise customer service levels
  •       Tailor support models to remain relevant irrespective of operating environment

In fact, GDPR permits data science to better intersect with other digital transformation topics such as machine learning to generate predictions, artificial intelligence to develop actions and smart contracts to automatically execute digital agreements.

The General Data Protection Regulation should therefore be global not local to create a base level playing field for all enterprises irrespective of size, sector or location to develop, grow and scale in a viable, responsible, and smart manner.

An independent institution can accredit organisations with a GDPR badge to provide prospective customers with some insight, comfort or insurance into how the enterprise is run.

A ‘Smart Enterprise’ walks its talk.

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