Extracting value from customer data in a post-GDPR world
On the 25th May 2018, the new ‘General Data Protection Regulation’ (GDPR) rules come into effect.
These changes will have a major impact on how companies across Europe handle their customers’ data.
The thought of how far-reaching these changes are and how they will affect the way you use customer data can be daunting. However, here at LiveStyled, we’ve done the hard work to make sure our work and insight sharing can continue without a hitch.
This simple introduction guide will introduce you to GDPR and detail how the LiveStyled platform will enable you to gather, analyse, and target customers effectively in a post-GDPR world.
What is GDPR?
The official title ‘General Data Protection Regulation’ (Regulation (EU) 2016/679), commonly shortened to ‘GDPR’, is a new set of regulations being introduced by the European Parliament, the Council of the European Union and the European Commission. Its intention is to strengthen and unify data protection for all individuals within the European Union (EU).
Does Brexit mean it won’t apply to UK companies?
Under the Data Protection Bill announced in August 2017, all GDPR laws will be transferred into UK law. This means that Brexit will have no effect on the applicability of the rules. After the regulations come into effect, the situation may evolve particularly in how the laws are interpreted, applied and enforced.
However, for now, the same rules apply Europe-wide including the UK and organisations should assume that GDPR will be the consistent benchmark for data protection standards across the continent.
Will it go away if I ignore it?
The penalties for companies who do not comply with the new rules are harsh. There are fines of up to 4% of turnover, or €20m, whichever is higher. So it’s not worth taking the risk!
What does it mean for the LiveStyled platform?
Data is core to the LiveStyled platform. It underpins how the platform can enhance customer experience, learn customer’s behaviour, in order to personalise content in order to drive incremental revenue.
To continue to deliver the outstanding results through our platform and white-labelled mobile apps, it is important that we are able to continue to collect and analyse data effectively.
LiveStyled also delivers pioneering insights to our clients by analysing data gathered through the platform. This enables venues and destinations to understand their customers and influence people’s behaviour. This has to be done in a GDPR-compliant manner which respects the privacy of end-users.
What is LiveStyled doing to ensure its clients are compliant?
LiveStyled collects a large amount of valuable data on customers via its clients’ white-labelled mobile apps. These data points are summarised in the cloud below:
As it currently stands, in a pre-GDPR world, all the data points above can be included in analysis. Only marketing communications require explicit consent.
From 25th May 2018, in a post-GDPR world, all companies will have to differentiate stringently between personally identifiable information (PII) and generic usage data.
Following the introduction of GDPR, all generic data points can still be included in analysis and transferred to our clients by default. Users don’t need to explicitly opt-in for this because this generic data cannot be used to identify any one individual person; however, they must have the option to manage their privacy settings and withdraw consent for this if they so choose.
Marketing communications and analysis of personally identifiable information (PII) will require explicit opt-in consent from the outset.
What is LiveStyled’s solution to this?
LiveStyled protects personal information via the use of ‘pseudonomisation’, which opens up the opportunity to carry out significant levels of personalisation and analysis on an anonymous basis using lookalike segmentation and targeting.
Being able to do this effectively is an important factor in being able to drive revenue and give customers a better experience.
Our platform creates a unique identifier for individual users. This enables data to be analysed and passed from our platform to our clients in line with GDPR regulations.
Essentially, the pseudonym creates a firewall between the generic data and the PII data.
As noted in the diagram above, information can be transferred subject to differing opt-ins. The information available for transfer varied depending on marketing consent and analysis consent by each individual.
To clearly understand this, our white paper on GDPR will guide you through the differing levels of information that can be transferred dependent on the customer opt-in status.
Complete this form to download the full white paper.
Alternatively, speak to one of our team who will be happy to help:
E – firstname.lastname@example.org
T- +44 (0)207 2233 262