Understanding the EU General Data Protection Regulation

✅ The video explains the new EU Data Protection Regulation (EU DSGV) and its impact on companies.

📝 Starting from spring 2018, companies will be required to comply with the new regulations and give users control over their personal data.

🔒 The new regulations aim to enhance data protection and empower users to determine how their personal data is collected, used, and shared.

🔑 The EU-Datenschutzgrundverordnung introduces new transparency and information obligations for companies in the European market, especially in marketing and sales.

💼 Employees need to review and potentially adjust all processes to comply with the new EU regulation, which may require process redesign and the definition of new responsibilities.

💻 Close collaboration with the IT department and other departments is crucial to implement these changes effectively using modern IT infrastructure and software.

⚡️ While the process can be time-consuming and challenging, it also provides opportunities for innovative marketing and sales initiatives.

The new data protection regulation imposes significant fines on companies that violate it.

The fines can now reach up to four percent of the company's annual revenue.

Many companies still need to inform themselves about the new regulations and make necessary changes.