The proliferation of organizational data along with the concurrent growth in regulations that govern that data have forever changed how businesses must manage their information. Despite their relative infancy, the EU’s General Data Protection Regulation (GDPR) and the U.S.’s California Consumer Privacy Act (CCPA) have already made their mark on companies that have shown lax cybersecurity policies in the form of fines due to data breaches and not responding to consumer data requests in a timely fashion. And as we inch closer to July 1, when the CCPA’s consumer rights request provisions come into full effect, many companies may see that they are ill-prepared for the sudden influx of requests they might receive.
Privacy regulations are unlikely to go away anytime soon. For example, the CCPA hasn’t fully launched, yet there’s already add-on legislation up for consideration this fall. Therefore, it’s imperative that businesses that are governed by these regulations—or that might be in the future—learn to master their organizational data. In practice, this means being able to successfully answer the challenges and risks that these regulations present to your business.