On May 25, 2018, the European Union’s General Data Protection Regulation (GDPR) came into effect. The GDPR introduced a plethora of new, far-reaching changes that impact the way businesses across the globe collect and hold “personally identifiable” data on EU customers.
With these new changes, privacy and data protection have become a company’s core requirements, effectively leading the way in data collection and storage.
Under the GDPR, All Personal Data of EU Citizens Must Be:
- Protected “by design”, meaning all new systems and tools that process data must be developed with privacy in mind
- Collected for specific, explicit (and, of course, legitimate) purposes only
- Limited to only what is absolutely necessary for processing (with regards to collection and storage)
- Stored so that the subject is identified only when necessary
- Kept accurate and up-to-date at all times
- Processed in a transparent and secure manner so it does not become lost, damaged, destroyed or falls into the wrong hands
- Stored so that a person can get access to their individual data; they can also demand erasure or restrict processing (i.e., the right to be forgotten)
We can’t stress enough how important it is to take these new rules seriously. In fact, failing to comply can come with a hefty price tag of up to 100 million euros or 4% of a business’ annual income. And let’s not even talk about the loss of consumer trust and reputation!
To paint a clearer picture of the importance of compliance with the GDPR for readers outside of the EU: violating this regulation would be equivalent to violating the United States Constitution.
Don’t Panic … Comply!
While there’s no reason to panic, there’s reason enough to take data protection compliance seriously.
But therein lies the challenge: Since personal data is often stored and replicated across numerous heterogeneous data sources, both on premises and in the cloud, it can be difficult for businesses to actually comply with those principles.
So, what they need is, first, a 360-degree view into all of their data. And, second, the means to establish a strong, unified data governance landscape with thorough security controls over the entire infrastructure.
Cue Logical Data Warehouse (LDW)! The LDW enables businesses to quickly and easily comply with the GDPR without investing in new hardware or re-building existing systems from the ground up.
Three Ways the LDW Helps Businesses to Become #GDPReady
1. Virtualize – and replicate if necessary! Personal data is usually fragmented across a business, forcing users to extract and consolidate the same data for each individual project over and over again. A governance and security nightmare! The Logical Data Warehouse acts as a central hub connecting all systems and applications within the company, and unifying the distributed data in a single virtual, re-usable access layer. With the LDW, users do not have to physically consolidate and replicate sensitive personal data outside of the source systems, but they’re still able to replicate other datasets, e.g. to improve performance. This completely removes governance issues while keeping the company’s data management flexible and agile.
2. Secure your data everywhere! With the personal data being consolidated in a virtual layer, you can apply consistent levels of security across the heterogeneous data sources in which the data resides. The LDW includes a democratized security layer and enables restricted data access depending on the type of user.
3. Update your data today! The GDPR demands that data be kept accurate and up-to-date at all times – throughout the entire business! With the Logical Data Warehouse users get the latest, accurate information as applied in the system of record. No latency, no replication and no worrying about accidentally accessing unsynchronized local copies of the data that are out of date.
The GDPR’s rules have expanded the importance and reach of data protection to affect any company, even those outside the EU, that collects personal information of EU citizens. And while it may initially be challenging to establish a compliant data governance structure, being in compliance with the GDPR will actually protect businesses too – by helping them to keep their reputation of integrity and saving them from fines and legal trouble. And with the Logical Data Warehouse businesses have a strong, reliable partner at their side to help them become true data protection champions – hassle-free, fast, and flexible.
Want to find out more about Data Virtuality’s Logical Data Warehouse? Click on the button below and book your live demo today!