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Investor blog

Analysts’ Morning: Data protection unleashed

by Nortal HQ, August 24, 2017

The General Data Protection Regulation (GDPR) is already standing on our doorstep, still causing some confusion and heartburn. Less than 300 days before the regulation comes into effect, Nortal is holding our 8th Analysts’ Morning dedicated to – you guessed it! – Data Protection.

Inge Prangel, Senior Analyst at Nortal and organizer of the event speaks about what analysts can expect from the event, held this year on 29 August, and why Nortal is still organizing these mornings.

Why Analysts’ Morning?

Three years ago there were no large social events dedicated to analysts, where the whole analyst community could meet once in a while to share professional experiences and access new know-how from guest speakers and experts. Clearly there was a gap for this kind of gathering. Three years in and this August we are having our 8th analysts’ meetup. We see that a strong analyst community helps raise the quality of the whole industry.

During those three years our community has grown quickly, and already consists of more than 1,000 members. Among other things, analysts value the opportunity to meet colleagues from other companies. These connections, the opportunity to share best practices, learn from others and grow as professionals are some of the reasons behind the success of our events.

Why GDPR for analysts?

GDPR will come into effect on 25 May 2018. Data plays a critical role in modern software development and when designing a new system that processes personal data, analysts need to be aware of the new rules.

Although GDPR is good news for consumers, the public and private sector need to quickly evaluate and restructure how personal data is stored and used. The fines for failing to comply with the regulation are harsh – either 4% of the previous year’s annual global turnover, or up to 20 million euros, whichever is greater. For many companies, a more threatening perspective yet is the possible negative media coverage and loss of customer trust should it become publicly known they have not kept their customers’ data safe.

Next week, our Analysts’ Morning will provide a toolkit that helps prepare for GDPR compliance. We have three experts sharing their views and experience, focusing on problems that have already arisen and how to solve them.

Who are the speakers and topics at this Analysts’ Morning?

Maarja Pild is an attorney in the Pan-Baltic law firm Triniti, and she specializes in privacy and data protection. She will give a brief theoretical introduction to the changes that GDPR involves and how to prepare for GDPR compliance. Pild will also talk about the main real-life issues and challenges from her experience of working on GDPR compliance projects.

Andres Ojaver, ‎Privacy Officer at Telia Estonia will share a telecom company’s hands-on experience of preparing for the GDPR – steps that have already been taken, the main challenges and the lessons learned.

Artur Assor, Head of Data Protection at Nortal will offer some ideas on how GDPR can also be seen as a great opportunity to find new business models. Data have been deemed the new oil and the most valuable resource in the world, and if dealt with smartly, the money that has to be spent to comply with GDPR could actually help find new revenues. Assor will share Nortal’s tips on how to avoid the fines, while introducing some tools that can help businesses prepare for GDPR compliance and assess GDPR readiness.