DATA has become one of the most valuable commodities in today's world, and privacy is becoming one of the largest concerns.
Collectively, Alphabet (Google’s parent company), Amazon, Apple, Facebook and Microsoft are earning annual net profits in excess of $100,000,000,000. That is One Hundred Billion dollars, with the majority of the revenues being generated by digital advertising. The success of digital advertising is rooted in the ability to know an individual's (or device's) behavior, which requires the tracking and warehousing of personal information.
As privacy concerns regarding collection, sale and use of personal information continue to escalate, new legislation and regulations are being introduced and passed globally to control said concerns. Most notably is the European GDPR (General Data Protection Regulation) which became effective on May 25, 2018.
In June of 2018, the California legislature introduced a privacy bill (California Consumer Privacy Act of 2018) which was signed into law by the Governor, becoming effective January 1, 2020. To assist its clients in understanding the impact of this new law, DataEM has compiled a One Page Summary of California Privacy Act.
DataEM recognizes the importance of these social trends and stays well-informed on recent and emerging privacy issues. DataEM and its partners are connected to over 5,000 privacy attorneys and practitioners globally. In April of 2018, DataEM posted its One Page Summary of GDPR on LinkedIn, which garnered over 40,000 views, 2,500 Likes, 475 Re-Shares and 185 "Positive" Comments.
Changes in privacy laws will affect how we collect and store data derived from personal information. These changes will impact the approaches and branding/marketing performance of Agencies, Brands and Organizations, as well as increased liability from the exposure to such data. DataEM will continue to monitor the privacy horizon and incorporate this knowledge into its recommendations.