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What Is GDPR and How Does It Affect Your Business?

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Technology has changed almost every aspect of our daily lives, so much so that the digital space and the physical space have seamlessly blended together to the point that the Internet has become a vital part of modern life as well. Given this, it’s not surprising that many have made efforts to protect individuals on the Internet. For this reason, several policies and guidelines have been put in place to protect our personal data and information. Now, one of the most important developments when protecting data and privacy is the General Data Protection Regulation (GDPR).

But what exactly is GDPR, and how does it affect your business? If you want to know the answer to this question, read on as we discuss GDPR and its effect on how you do business in the digital age!

What is GDPR?

The General Data Protection Regulation is the core of Europe’s digital privacy legislation. Essentially, it was established to improve data protection across the European Union (EU). In essence, it’s a set of rules that gives EU citizens more control and protection when it comes to their personal data and how it is used. 

The GDPR can be summed up with these eight basic rights:

  1. The right to access: Individuals have the right to request access to their personal data and ask how their data is being used.
  2. The right to be forgotten: This refers to a customer’s right to have a company delete their data once they stop being customers.
  3. The right to data portability: This refers to an individual’s right to have their data transferred from one service provider to another.
  4. The right to be informed: Individuals must be informed and must agree before a company starts to gather their data. 
  5. The right to have the information corrected: Individuals can have their data corrected or updated if it is incorrect.
  6. The right to restrict processing: This refers to an individual’s right to refuse that their data be used or processed. They can still allow companies to store their data, but this doesn’t automatically mean that companies can use said data.
  7. The right to object: This requires that personal data processing must cease once the owner of the data objects to it being used.
  8. The right to be notified: Individuals must be notified within 72 hours in case their personal data has been compromised. 

The Effect of GDPR on Your Business

So, how does a regulation created to protect EU citizens affect your business? Well, the thing about the GDPR is that it applies to all businesses and organizations that offer products or services in the EU. This is why GDPR compliances will be included in business etiquette online courses and e-commerce management online courses so that businesses that have operations in the EU will be prepared to comply with the GDPR. 

Conclusion

Given all of the information stated above, you must re-examine how you handle customer data in the EU region. For the most part, just be sure that you’re complying with the GDPR’s eight basic rights and have no problems moving forward. Remember that non-compliance with the GDPR will result in a massive fine ranging from 10 million euros to 4% of your company’s annual global turnover, so stay on the right path at all times! 

Here at Skill Builder Pro, we offer various training programs ranging from e-commerce management online courses to leadership online courses that can help you maximize your skills and abilities. We also offer training that can teach both soft and technical skills that can give your business the edge that it needs to succeed. Get in touch with our team of experts today to see how we can help!

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