The main data compliance concern is that there is no generic rule that applies on a global scale. Different Countries and regions are subject to local data protection and compliance laws. The ever-scaling digital world also causes regulatory change and adds complexity. At Ampliz our teams have created a flexible compliance mechanism that updates data on demand to help you navigate the minefield of data compliance efficiently. Ampliz overcomes the regulation barrier with authentic and validated records, regulatory agency tie-ups and alert vigilance over the data marketing landscapes on a regular basis.
The General Data Protection Regulation (GDPR) [Regulation (EU) 2016/679] is one of the most recent data privacy regulation jointly proposed by the European Parliament, the Council of the European Union and European Commission, aiming to “strengthen and unify” data protection laws for individuals within the European Union. The new regulation plans to replace the old Data Protection Directive [95/46/EC], which has been effective from 1995. The last date of implementation for EU Member States is 25th May, 2018.
GDPR applies to organizations…
The law applies to any company whose data processing concerns private data of EU data subjects, irrespective of the company’s (processor or controller) location.
In an abundantly competitive digital market, customers are saturated with choices. In this era of big data, regulations like GDPR are necessary tools to disperse cluttering information and establish business connections that actually matter. GDPR is a win-win for both businesses and buyers.
Data subjects are aware of what value their data holds to businesses. They are also suspicious about how businesses use their data. A transparent and customer-centric regulation system like GDPR will help ease this tension, and built trust and loyalty towards brands. Furthermore, subjects will feel confident to share more data.
GDPR undoubtedly places much more emphasis on the subject’s preferences. This at source data cleansing helps businesses to segment and target their buyer profiles better and allows buyers to also reach out to the right kind of sellers and vendors.
Digital Marketing is forever evolving ahead of the rules governing it. With the new GDPR upgrade, finally the regulations will accommodate fresh ideas rather than becoming a hindrance for them. Provisions within the law will allow B2B and B2C businesses to apply relevant and up-to-date marketing tactics and build valuable partnerships in the long run.