On October 12th, Cloudera will be in Munich composing a series of straightforward approaches and concise strategies for companies preparing for one of Europe’s biggest regulatory reshufflings of data ever. Register now to find out what tactics, methods and tools are best suited for you.
May 25th, 2018 is just around the corner.
The fast-arriving General Data Protection Regulation (GDPR) is European Parliament’s biggest effort yet to penalize the loss and mismanagement of data gathered from EU citizens. With so much to adjust for in so little time, many companies already risk being caught off guard as new regulations roll out next year. But when breaking new rules risks 20 million euro fines, one simple mistake can become very bad news in the blink of an eye.
Possible Problems
Prepping for GDPR is also no easy task. Not only must current staff be educated on what new legal guidelines to follow, but new staff with relevant technical skills must also be hired to handle new operating requirements. Under that great big umbrella term known as “misuse” of data, there are many activities which employees and whole departments may unknowingly already be doing that can lead to a fine-worthy breach. Simply put, inadequate data security can result in hefty charges, even if that data was lost due to being hacked by an outside party.
In such a regulatory environment, everyone is going to step up their competence and their understanding when it comes to securing data sets and every company is different in how they can adjust their current protocols. Firms can’t afford to be simply compliant – they have to be adaptable. Because data sets can be spread far and wide, there’s going to be a general need for consolidation. This means assigning the right people resources to the right areas and making sure your IT teams especially have a reliable and continuously updated understanding of a company’s data landscape – from efficient warehousing to clear data visualization. EU citizens data aren’t just held by European firms, so no-one can afford to be complacent. Enhancing capabilities when it comes to accessing and deleting data for consumers will be critical.
All in all, there is plenty to do, and very little room for error.
Possible Opportunities
The good news is that staying ahead of the curb is as much of an obstacle as it is an opportunity. There are many simple and straightforward ways to organize and prepare your entire enterprise for GDPR as well as many beneficial tools that can assist you along the way. If done properly, preparing for upcoming regulations should not only lead to avoided mistakes but better insights about your data and how to manage it.
Knowing your available tools is of particular importance. There is no reason to train and assign new staff for tasks that the latest cloud computing tech can streamline for you. Even if you think you’re up to date with the latest tech, ensuring you know how to most efficiently use it comes down to time management and resourcefulness. Companies like Cloudera can do a lot to make sure that your technology isn’t only up to date, but also being applied properly.
Conclusion
GDPR is going to fundamentally change the environment for big data in Europe. But like any sudden change in an ecosystem, those who most efficiently adapt don’t only survive but thrive. Adjusting to GDPR will not be easy for anyone. But there’s no reason that these changes have to be a grimacing ordeal. Where old business cycles end, new ones begin. With the right attention and the right approach, it may just be the perfect chance to get ahead.
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