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RAPPORT

Seizing the GDPR Advantage

From mandate to high value opportunity

Europe’s Global Data Protection Regulation (GDPR) is a ground-breaking regulation that aims to put control over personal data back into the hands of individuals. Sighting this uphill task and fearing stricter regulatory action owing to non-compliance, many organizations are scrambling to be ready as soon as possible. In this report, we look beyond the compliance side of GDPR and uncover the latent opportunity that can help organizations gain individuals’ trust and competitive advantage. We surveyed 6,000 individuals and 1,000 industry executives across eight countries to gather their views on this subject (see Research Methodology formore details). Our research a firms that:

• However, most organizations are not ready to seize this opportunity – signi cant work remains to be done toincrease not only compliance levels but also compliance maturity and to bridge the gap between the preparedness of organizations and the expectation of individuals.

• The GDPR is an opportunity waiting to be tapped – individuals are more willing to engage with, and be more loyal to, organizations that protect data, and going above and beyond the GDPR brings even greater reward.

• An immature approach will have significant consequences because consumers are prepared to take action if they are unhappy with organizations’ GDPR compliance performance.

• To convert the GDPR from mandate to opportunity, organizations must take a series of steps, ranging from educating customers and citizens and winning their trust, to building a culture of respect for personal data within the organization.

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