Europe's General Data Protection Regulation, commonly known as GDPR, recently became a very popular concern for most of the companies collecting data over internet. This GDPR is a rule passed by the European Union in the year 2016, setting some new rules on how companies will manage and share personal data. On 25th May 2018, they also introduced some new changes which forced the companies to make changes in their policies. Many rules in GDPR are built on rules set by earlier EU privacy policy like the Privacy Shield and Data Protection Directive, but now the rules are expanded in two crucial ways. First, the GDPR sets a higher bar for obtaining personal data than we have ever seen on the internet before. Therefore, any time a company gathers personal data on an EU citizen, it will need clear and informed consent from that person. Second, the GDPR’s fines are severe enough to get the entire industry’s attention.

Read more at: https://www.theverge.com/2018/3/28/17172548/gdpr-compliance-requirements-privacy-notice

In a world where Digital Privacy is under threat, India has a huge role to play. Google, Apple, Facebook, Amazon, Twitter and Uber are huge data miners, that sell their data for their profit and have been US government’s primary national security intelligence resource. On the contrary Indian internet industries can provide privacy respecting services that compete directly with services provided by the US data miners, priced reasonably in local terms in all the developed and developing societies because India has enormous potential and talent to provide such services and help end the privacy invasion. Read more at http://blogs.timesofindia.indiatimes.com/toi-edit-page/head-off-digital-colonialism-how-indian-it-can-compete-with-google-and-facebook-and-show-the-world-a-better-way/

Big data will play a major role in shaping the future of businesses. The two major areas that are going to undergo significant changes are as follows:

(i) Previously, once data had been used, it used to be deleted. But now, as predictive analytics makes use of historical data, so data needs to be stored for an indeterminate period of time. This is against the current laws and thus requires amendment. In future, well-defined laws about collection, distribution and storage of data are going to be the key to success for businesses using Big Data.

(ii) With technological advancement, data is being collected at a faster rate than before. Also new and improved technology is being used to sort it. In future, frameworks will need to be robust in nature and analytical processes should be improved in terms of speed and accuracy. Read more at: https://channels.theinnovationenterprise.com/articles/big-data-and-the-future-of-business

Permission marketing is now trending. Consumers don’t like to get interrupted often and so they take actions to block online ads, promotion emails. This new era of permission marketing can be broken down into “anticipated”, “personal” and “relevant”. A recently concluded study shows customers are willing to share information with trusted brands. Data privacy acts now protects consumers from personal data collection through websites and other online sources. Cookie law is such an example. Customer data can be explicit, implicit or structured by analytical tools. Thus data security is of utmost importance and it is the responsibility of organizations. Consumers are always looking for their needs to be met by companies and this gives the companies the chance to make the best use of data collected providing value to the organization. Read more at: http://www.cmswire.com/digital-marketing/tracking-customer-data-you-better-provide-value/

A chunk of healthcare information is being generated through electronic medical records, wearable devices and centralized databases leading to improvement in care, lowering of costs and driving efficiency. Healthcare, in recent times, is characterized by data-driven technologies thus leading to betterment of treatment, quality, safety and efficiency. These modern data-driven techniques also raise serious privacy and security questions as pointed out by Chris Boone, executive director of the Health Data Consortium. Concern over security arises when organizations pile sensitive consumer data. To mitigate the problem of data privacy, researchers recommend encrypting health data both in transition and at rest as healthcare companies are the popular targets of cyber criminals. Read more at: http://www.cio.com/article/2914170/healthcare/how-to-balance-data-privacy-and-healthcare-improvements.html

IOT refers to sensors that communicate over the Internet without human intervention. According to McKinsey and the Global Semiconductor Alliance report, surveyed 30 GSA members who were senior executives at semiconductor companies, “IOT has potential, but it has several hurdles which can delay it.” These hurdles are:
• Security and data privacy
• Customer demand
• Limited consensus on standards
• Market fragmentation
• Elusive new revenue sources
• Technology shortcomings
To know more about these hurdles and how they can affect IOT implementation processes, read an article “Internet Of Things: 6 Obstacles” given in the informationweek.com by Thomas Claburn (Writer at InformationWeek) at: http://www.informationweek.com/mobile/mobile-devices/internet-of-things-6-obstacles/d/d-id/1320434

According to a survey in UK, it was found that 84 per cent of 18-34 year olds are happy to share their personal data with brands by registering and logging into sites with their identities from social networks. Consumers are worried about sharing personal information out of fear that companies will not use it properly. So, it's important to show consumers how you value data privacy and be clear on exactly how their data will be used. It is essential for companies to give a clear notification to consumers about how their personal data will be used. To know more, follow Patrick Salyer (CEO of Gigya)’s article link: http://digitalmarketingmagazine.co.uk/digital-marketing-data/data-collection-all-consumers-want-is-transparency-relevance-and-convenience/1238

According to author Shreya Sharma, with Big Data becoming an essential part of an organization, it is getting harder to balance it with data privacy. Marketers should be clear about the data they are collecting and make sure that data storage and security infrastructure are safeguarded, otherwise it can have serious effects on the company as most consumers expect a company to protect their personal data, and their consuming behavior depends on this. It is therefore crucial to bear a high level of awareness with regards to the significance of data privacy and protection. The responsibility should be seen as norm and not just be restricted to people who are directly involved in mining big data. To know more, please follow: http://analyticsindiamag.com/in-action-how-companies-should-follow-a-data-centric-security-approach/