THE DATA JUNGLE
Data had a growth akin to the that of the wild, unfortunately there no law of nature there and ecological balance to keep maintaining the pristine glory. Data emerged as the new oil and over a period to time, it became the ultimate source of monetisation for the company and exploitation of the user. With no worthwhile internal checks place law had to be enacted to control the rot and bring owner of data to the owner’s – the user. The golden standard in this area has been the General Data Protection Regulation, GDPR, which got implemented on the 25th of May 2018.
With the most stringent provisions and two year window given for its implementation it was presumed that finally data can be regulated, monitored and surveilled with the mandated legal teeth. One year into GDPR, the reality is turning out to be totally different and the future also seems to the bleak. It seems that the world is slowly giving up its battle for privacy / data protection. In first eight months of GDPR only 91 fines have be levied and one 27% of the US companies are data complaint. Next Jan, California Consumer Privacy Act, CCPA, on similar lines, only 14% of the companies are complaint as on date and 44% has not started implementation.
The problem lies in not understanding the problem, the will to do so lacking. ”Making specific technology and process changes will not be enough. The Chief Privacy Officer should command the desired level of collaboration among IT, data management, data security, legal, records, HR etc. How and when is data shared with third parties? *”Organisations should focus on creating agile data infrastructure that can adapt to evolving regulation.
It needs a business overhaul. Will is the key. Privacy by Design will be a real step forward. This would be to set principles for designing privacy into structure, operation and management of every system. It will facilitate regulatory compliance, reducing likelihood of fines and penalties and post breach management. Contrary to management thought, it will lead to significant business value.
PRIVACY BY DESIGN HITS AT THE ROOT OF THE DATA BUSINESS MODEL.