How to ensure compliance without sacrificing competitiveness
The new EU Data Protection Regulation (GDPR) comes into force in from May 2018, introducing a new and tougher regulatory framework extending new data protection rights to EU citizens.
With the threat of fines of up to €20 million or 4% of global annual turnover, and additional risks to reputation, it is hardly surprising that most of the GDPR focus has been on compliance.
But for companies whose competitive advantage depends on insights and intelligence gained through data analysis, there is a potentially much greater risk.
Analytics systems contain the most comprehensive views of customers, employees and other data subjects. They often generate personal data that is derived or inferred through algorithms, and they are often difficult to audit.
The challenge for organisations like yours is therefore to strike the right balance between compliance and competitiveness. For that to happen, all company functions that have a stake in business analytics (marketing, customer retention, KYC, fraud management etc.) absolutely must be part of the GDPR discussion.
The challenge can then be turned into an opportunity: solutions that make your analytics more transparent and enable you to achieve GDPR compliance can also make your operations more agile and your organisation more competitive.
During the insight session you will learn:
- What are the main points of the General Data Protection Regulation? How does it change the current regulatory regime?
- What are the tools, methodology and approach your company will need to become GDPR compliant?
- What are the GDPR compliance risks specifically related to business analytics systems?
- How do you strike the right balance between getting value from data and mitigating GDPR risks?
- Why open-source approaches will increase your exposure
- How to design a pragmatic roadmap for GDPR
- How SAS can help you navigate the road to compliance based on 40 years’ experience in data protection and analytics