Discover how proper GDPR data protection compliance can transform your business data from a regulatory burden into a valuable asset. Learn why data protection isn’t just about compliance—it’s about unlocking hidden business value.
Data: The Hidden Goldmine
The hidden value of data and GDPR data protection compliance is something our Managing Director Helen Barge has championed for years. There is no doubt that if data could be valued in the same way as a warehouse full of stock and shown as a number on a balance sheet, then attitudes to protecting it may change. While we have not found anyone who can help with the commoditising on a balance sheet – though if anyone has an answer, then please give us a call! – we were intrigued by a couple of recent news stories.
The first article is from Forbes and describes the top data trends forecast for this year. It’s a bit of a long read, but it’s clear that organisations who strengthen their GDPR data protection compliance will be well placed for the future, if the author’s prediction of ‘behavioural data becoming the new gold’ is true.
Closer to home, if you remain in doubt that personal data has an intrinsic value, then this article from the BBC based on research conducted by the Competition and Markets Authority (CMA) should remove that doubt. The article states: “Selling data can be lucrative. Sainsbury’s has said it expects Nectar360, the group which manages the supermarket’s loyalty scheme, to make an additional £100m in profit over the next three years.”
For those who know us at Risk Evolves, we’re passionate about privacy and effective GDPR data protection compliance. However, the legislation is not designed to stop you doing business. It’s there to protect the rights and freedoms of the individual – which includes you and me.
Strengthening GDPR Compliance
If you have a pool of data and are worried that ‘GDPR says it can’t be used’, then give us a call for some impartial advice.
Risk Evolves recognises that each company should have a tailored approach and that cyber security requires a healthy cyber-aware culture as well as IT measures. In response, we provide a wide range of appropriate services, including:
- Certification such as Cyber Essentials, IASME Governance and ISO 27001
- Comprehensive training programmes
- Emergency support
- GDPR Consultancy to help reduce the risk of non-compliance, fines and reputational damage
Ready to unlock your data's true value while ensuring compliance?
Get in touch with us today to discuss your GDPR data protection compliance needs.
Contact Us01926 800710
