The Privacy Shield is a great opportunity for brands to win back consumer trust
The estimated $250 billion occurring annually in trans-Atlantic digital trade spells growth and opportunity for media and technology companies on both sides. However, there’s a lot of red tape involved in the ownership and transmission of sensitive consumer data.
With the European Court of Justice striking down the 15-year Safe Harbor agreement last fall, citing fundamental differences in the handling of private information and legality concerns, the U.S. and the European Union have established a new data privacy agreement. Privacy Shield is meant to ensure that sensitive data is secured to EU standards before being submitted to corporations based in the U.S, all of which must agree annually to the terms provided in the directive.
From traditional media houses to live event companies, the industry’s responsibility to safeguard its customers’ data and privacy is now paired with legal obligation.
Better Data Management Will…