European union has enforced GDPR, a regulation that is standardizing data privacy principles for all organizations processing EU citizens personal data. The idea is to have the same rules when it comes to protecting EU citizens rights and to stop the uncontrolled exploitation of personal data. On the other hand we live in the time of data monetization and personal data has a real tangible value presenting an opportunity for all businesses collecting large volumes of (personal) data. The opportunity that is now erased by the new regulation, or is it?
At this very moment marketing all over the world is trying to find ways to cope with GDPR because business needs to keep on turning. In the same time people everywhere are feeling the effects of their data being used and abused by marketing experts who came to posession of their personal data without their knowledge, and it has to stop. Looking forward most of the countries in the world will adopt regulations similar to GDPR and the question is will that be the end of data monetization as we know it?
Marijan Bračić is the consultancy director in Poslovna Inteligencija, where he has been working for over 10 years. Since the completion of the Faculty of Electrical Engineering and Computing in Zagreb, he has been engaged in the field of data analysis, data management and data protection. He managed complex projects in the telecom and financial industry and worked as an architect on projects for the introduction of analytical systems and intelligent data protection. Today, he is the product owner of Poslovna Inteligencija’s GDPR software solution and is helping companies comply with GDPR.