Friday, March 23, 2018
What You Need to Know About GDPR and Your Business Analytics
Posted by Armanino Dynamics Team
GDPR, or the General Data Protection Regulation, is big. Really big. Are you ready for the May 25 deadline?
For companies using business analytics and pulling data from different systems, the new GDPR requirements on documenting data flows can be overwhelming. But they don’t have to be.
First, does GDPR affect you? Instituted by the European Union, GDPR rules apply to U.S.-based companies that have an online presence (such as a website) and sell, use targeted marketing, or contract third parties to conduct targeted marketing to residents within any of the 28 EU countries. Regulatory fines of up to 4 percent of annual revenues are a potential non-compliance penalty. (For those of you unaffected: Breathe a big sigh of relief.)
If you are affected, you need to ensure your company is compliant. A necessary first step is to document data flows across your systems and report on:
- What personal data is stored
- Where is this data stored
- How is this data used
- Who has access to this data
If you pull data from multiple applications, this can get messy. The good news is we can help you automate this process. This short video shows how. TimeXtender also offers regular webinars on managing GDPR around business intelligence with their Discovery Hub – sign up here.
We’re covering just a small piece of GDPR as it relates to business analytics. For more in-depth information and help preparing for GDPR across your business, don’t hesitate to reach out to us at email@example.com
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