Luxembourg (Europe)

Data is the gold dust of the 21st century, and with the amount of that data set to double every two years (reaching 44 trillion gigabytes by 2020), it’s allowing organizations of all sizes to open up opportunities to truly understand their customers. For instance, analyzing data in near real-time and acting on insights to deliver superior experiences.

However, the data bonanza is not a free-for-all. The very acts which excite businesses – holding and using data – have the potential to expose them to significant legal and reputation damage. Just as there has been a groundswell of interest in harnessing the power of data, so consumers are becoming more aware of their right to privacy and what giving away their data can mean. Organizations that fail to properly secure customer information not only face regulatory and legal sanctions, but can expect significant damage to reputation and trust. Marissa Mayer lost her annual bonus over the mishandling of security breaches that exposed the personal information of more than 1 billion users.

Governments are reacting to the increased demand for data legislation as well. Regulations such as the EU’s General Data Protection Regulation (GDPR) which comes into force on 28 May 2018 guarantees the data privacy rights of any EU citizen, no matter where their data is being held or processed. It will have consequences for businesses globally, not just in the European Union.

 

Learn more / En savoir plus / Mehr erfahren:.

 

http://www.scoop.it/t/luxembourg-europe/?&tag=LIST

 

http://www.scoop.it/t/luxembourg-europe/?&tag=CNPD

 

http://www.scoop.it/t/luxembourg-europe/?tag=Digital+L%C3%ABtzebuerg

 

https://www.scoop.it/t/luxembourg-europe/?&tag=GDPR