How GDPR Will Improve Data Governance
The majority of executives queried believe that compliance with the European Union's General Data Protection Regulation (GDPR) will ultimately benefit them—especially in boosting the effectiveness of their data governance efforts, according to a recent survey from SAS. Set to go into effect in May 2018, the GDPR will increase organizational accountability for personal data protection, with companies required to document how and where data is stored, and how it is processed. The GDPR also offers consumer protections: In the "right to be forgotten" section, for example, customers can demand to have their data erased and halt any further processing of it. The SAS survey report, "Working Toward GDPR Compliance," reveals that most organizations are already taking steps to prepare. In addition to improved data governance, survey respondents feel that compliance with the regulation will enhance trust levels between their company and its customers. What's more, many expect the GDPR to expand IT's capabilities. "Compliance doesn't have to be a scary word—even when facing the multifaceted challenges of meeting the European Union's May 2018 deadline for [GDPR]," according to the report. "In fact, charting a course for sustainable GDPR compliance now can have other long-term benefits for your organization. That's because it sets you on track to gain a competitive edge as you learn to rely on data-driven decisions across the board." A total of 340 global business executives took part in the research.