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Post written by

Samir Addamine

Samir is the founder and Chairman of FollowAnalytics, a leading mobile marketing automation company.

Samir AddamineSamir Addamine ,

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The EU General Data Protection Regulation (GDPR for short) will be enforced from May 25 onwards. It affects any company that accesses or stores information from EU citizens, regardless of where that company is located — which means that organizations around the world must be GDPR compliant or they will face heavy fines.

Here are the four things that any company that wishes to be GDPR-ready must keep in mind:

1. People Are Starting To Consider Data Privacy To Be A Right

Companies like Facebook and Google have been collecting our data for years, but it seems that people are finally starting to challenge the status quo. Recent initiatives by governments to institute stricter regulations, including the “right to be forgotten” and the right for people to know what information a company has on them, shows how integral an issue privacy and data collection have become.

It’s not just the 500 million people in the EU who are articulating their concerns over data privacy. A 2016 survey conducted by the Pew Research Center shows that many U.S. citizens also have significant worries about their personal information, finding that 86% of internet users have already taken steps to minimize or conceal their digital footprint — while 61% say they “would like to do more” to protect their privacy online. Younger people are also more likely to pay attention to their online privacy and take measures to protect it. As more people come of age in a digital world, companies must be prepared to meet their privacy demands.

2. Investors Are Taking Notice Of Data Privacy

We’re starting to see that investors are concerned about data privacy — and when you start to see investors become vocal about an issue, it means that many people are already raising the topic. Furthermore, the fact that companies and investors are viewing GDPR as a possible opportunity for investment means that they see it as a trend with long-term implications.

Investors are usually the people who are most plugged into the world, who have the greatest incentives to predict where the world is going. The recent influxes of cash into companies who specialize in compliance and customer data show just how much GDPR has become an investment opportunity.

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