As early as 2011, European Commissioner Neelie Kroes pointed out that :
Personal data is the new oil of the internet and the digital economy.
And what was true 10 years ago is even more so today.
The exponential development of new technologies and the democratization of connected devices have led to an unprecedented multiplication of personal data collected and used by companies. According to IDC, the global datasphere is expected to grow from 33 zettabytes in 2018 to 175 zettabytes by 2025. Behind this ocean of data lies a major strategic issue.
However, companies must now comply with a much stricter legal framework regarding the protection of personal data. The entry into force of the GDPR in 2018, the Privacy Shield and the Privacy Act in the United States, as well as Law 25 on the Protection of Personal Information in Quebec have considerably strengthened people’s rights and the obligations of data
controllers.
In this context, adopting responsible personal data governance is no longer an option for companies: it has become a strategic imperative.
But what exactly does “data governance” cover?
It can be defined as the set of processes, policies and technologies that enable an organization to manage the personal data of its
customers, employees and partners in an ethical, responsible and transparent manner.
This governance is based on 4 fundamental pillars:
- Compliance , which is the ability to continuously ensure that data processing fully complies with applicable legal and regulatory provisions.
- Transparency, which means clearly informing people about how their data is collected, used and stored, through comprehensive privacy policies.
- Control, which involves giving people the means to retain control over the use of their data, for example through rights of access, rectification and erasure.
- And finally, security, which implies the implementation of robust technical and organizational measures to ensure data protection throughout its life cycle.
In concrete terms, building solid data governance involves several key steps:
- Appointing a Data Protection Officer, who will be the conductor of compliance internally.
- Thoroughly mapping all personal data processing carried out within the organization.
- Documenting processing through detailed records of compliance.
- Establishing internal policies to govern data processing in accordance with people’s rights.
- Drafting a transparent and easily accessible privacy policy.
- Training and raising team awareness about data protection.
- Planning regular control and audit actions.
On the technological side, tools such as encryption, anonymization and access management will be essential assets to secure data.
The benefits of proper personal data governance are manifold:
- Reducing legal risks and associated financial penalties. Non-compliance exposes companies to fines of up to 25 million dollars or 4% of annual worldwide turnover, for example.
- Strengthening customer trust and satisfaction, in a context where expectations around data privacy have never been higher.
- Valuing data by empowering teams: personal data is precious and must be treated as such.
- Innovation opportunities by leveraging data ethically and within the legal framework.
I will end on this note ; at a time when a company’s reputation can be damaged in a few clicks following a data privacy scandal, investing in robust governance is more imperative than ever. It is the best way to make data a real competitive edge, by placing ethics and transparency at the heart of the approach.
