With cybersecurity and data privacy risks rapidly growing, it has become increasingly challenging for individuals and organizations to protect sensitive data, and to unify compliance with various privacy-related regulations. The volume of digital data is expanding at an exponential rate, making it necessary for companies to strengthen data governance, and demonstrate control of sensitive information.
Against this backdrop, the European Union has introduced the General Data Protection Regulation (GDPR). It aims to strengthen data protection for EU citizens, and monitor the export of personal data outside the EU. GDPR addresses the data rights of individuals, and mandates that organizations have well-defined measures in place to secure personal data. The regulation also imposes considerably high administrative fines for non-compliance - up to 4% of a company’s annual global turnover or €20 million – whichever is greater.
GDPR will help ensure that enterprises have a well-defined and mature data governance model. It issues a wide range of requirements to safeguard personal data, and to also implementtechnical infrastructure to collect, store, and process this data, thereby assuring effective data governance.
