Data is built by individual experience, from the most trivial to the most private one. Information is collected, sometimes without the explicit consent of people involved, and then sold to the highest bidder. This brings up a question : what accountability do companies have when it comes to private data ?
Last time we discussed the economic and social value of data, but what about its personal value ? Data could be pictured as a pyramid which base is formed by personal and social value while the top is occupied by economic value. Since data is built by individual experience, there should be a high interest in protecting the people that provide information. Unfortunately, data traders often focus on the economic value and forget that, with no respect of personal value, economic pursuit is bound to fail, or at least in serious danger. One of the best possible examples is GDPR or General Data Protection Rule that attempts to recreate the limit around personal value that data traders were not able to comply with.
GDPR is a significant change in EU data protection rule that grants European citizens with more control over their personal data, specifically identifiable information such as contact details, locations, political orientation, race, etc. This new measure also aims at increasing companies’ accountability, whether they are traders or clients. Indeed, any breach will be punished by a fine amounting to 20 million € or 4% of annual worldwide turnover. This demonstrate very well that without respect of privacy (personal value), economic pursuit is at risk of failure.
Although Inoopa is mainly active in B2B, we often have to provide personal data and thus need to comply with GDPR requirements. In other words, we need to be accountable. While the new measure proved to be a disadvantage for many companies, it actually was an opportunity for Inoopa to build an even more transparent relationship with our clients. For example, we recently had to provide prospection data to a Belgian telecom company. Our compliancy was approved by the client as we could demonstrate that the private information was retrieved from public sources. To provide a full service, Inoopa also ensured a mailing campaign based on the lead generation that also fell under GDPR as each mail was joined by an unsubscription form.
The formula we adopted for our telecom client could be applied to various sectors like agri-food, energy, banking, e-commerce, etc. Do not hesitate to get in touch with us for more information.
Written by Maria Mayala