Europe’s General Data Protection Regulation comes into effect May 25, 2018, bringing new rules around data collection, storage and usage. Are you ready?
The General Data Protection Regulation “GDPR” was enacted to deal with the handling of personal data of European Union residents. The two-year implementation phase ends Friday, May 25th 2018. As of that date, everyone handling EU citizen data needs to be compliant.
If you collect, store, process, or handle data containing personally identifiable information (PII) about persons in the EU, you need to make sure you are compliant. You’ll need to explain what you’re doing with the data you’re collecting, and likely need to change some of your data collection practices.
Open-i Advisors’ data consultants are ready to help you arrive at a plan for perpetual compliance with the privacy requirements under both GDPR and the e-Privacy directive.
Step one is a GDPR scan provided by our partners at SecurePrivacy that you can use right now for free.
It’s a self-serve wizard that you can use right away.
But that’s just the tip of the iceberg. We take that info, along with information we gather about your internal data mapping, and we manage the process for you.
We even partner with a legal team focused on GDPR and e-Privacy Directive compliance, so if you’re looking for a holistic solution we can provide that as well. Open-i Advisors helps you save time and money by packaging up everything you will need to hand off to legal counsel so that they can address your needs in as low cost a manner as possible.
The full process includes the following stages:
Welcome to Business by the Numbers, our new blog series where we talk to some of the most influential people in the cloud, internet infrastructure and web hosting industries about the role data analysis plays in their organization.
We wanted to lead off this series with an interview with Lance Crosby, former CEO of SoftLayer and now head of StackPath, a next-generation intelligent and secure web services platform. Crosby has been a huge proponent of using a data-centric approach to validate gut business decisions, and that there are always data points to track if you know where to look.
Here’s our Q&A with StackPath CEO and Chairman Lance Crosby:
Open-i Advisors: Lance, you’ve got an amazing track record of industry successes including founding SoftLayer (which IBM later made the core of its cloud business) and your more recent creation of StackPath. Can you give us an example of how data helped challenge an assumption or gut reaction when it came to a business decision?
Lance Crosby: It’s all about the data and you can’t manage what you don’t measure. Listening to one’s gut is important when starting a new business, but I am a strong believer in using data to validate what the gut is saying.
There are numerous examples of when we used data to validate assumptions. One that comes to mind is while at SoftLayer, we gave HostGator rates that generated a lower margin than other customers. This may seem counterintuitive to making money but my gut told me that HostGator’s’ size would drive economies of scale and drive higher overall EBITDA. I had a feeling that would be the case, and the data verified that.
Another example, also at SoftLayer, is customer churn. We all know that unhappy customers are more likely to leave, but thanks to data we learned that customers with a support ticket that wasn’t resolved within 7 interactions were 72% more likely to cancel their services. It became a company initiative to satisfactorily fix all customer issues in 6 interactions or less which allowed us to retain customers and garner the stellar customer service reputation that SoftLayer, and now StackPath, is known for.
OiA: Some aspects of a business are easy to measure while others seem difficult or impossible to track. How do you track business operations that don’t seem to have obvious trackable data points?
LC: It’s true that some things are easier to measure than others, but everything has data points you can track. Every single activity, process product, or service can be measured. Financial measurements are often the easiest to measure, operational measurements are more complex, and performance measurements are even more complex and partially subjective, but if you can define it, you can measure it. You may have to change your language and get super-specific about the KPIs (key performance indicators) that are most important, but once you do that you can measure it.
As an example, at StackPath part of the way we measure sales performance is using lead and lag indicators. Lead indicators are activities and lag equals results. So using sales as an example, say a sales rep makes 100 calls (lead indicator) and ends up with 10 sales (lag indicator) as an average, we now can reasonably predict results and adjust lead indicators accordingly.
OiA: Are high-level company-wide metrics enough or is it important to get more granular data? How do you decide when and where to drill down?
LC: Company-wide metrics are nice as they provide an overview of how the company is doing in general. For example, if we have 100 employees, and we do $1M in revenue, the metric is $10k per employee. But it is important to drill down by department, product, etc. to know WHY the company is doing as it is doing and to be able to make adjustments as necessary.
StackPath has dozens of teams and hundreds of people across the US and internationally. I want to be able to know what is going on with any team at any location at any time so drill down on everything because you can’t manage what you don’t measure.
OiA: What KPIs in general do you find most valuable and why?
LC: General metrics are generally useless. The more specific you can make them, the better. At StackPath, in general, the KPIs I find most valuable are:
- Profit: This might go without saying, but profit is one of the most important performance indicators to help me determine how we’re doing as a company.
- Customer projections: especially with our content delivery network (CDN) business, it’s important for us to know when our customers are going to need more bandwidth so we can serve up content to end-users with high performance and low latency. Analyzing their resource demands and usage patterns helps us do this.
- Real-time average weighted costs of megabits per second (Mbps): Speaking of PoPs, we track daily, weekly and monthly averages in real time for network ops and price planning.
- Sales by region: we are building a highly scalable platform of core services at the cloud’s edge. Knowing how sales are going by region helps us determine locations of and enhancements to our next point-of-presence (PoP).
- Employee satisfaction: A lot of times, companies focus on all the things I just listed, but forget about one of the most important KPIs of all – employee satisfaction. Happy, loyal staff work better. They help boost both productivity and morale. While one of the harder KPIs to measure, it is worth the effort to provide ways for employees to ask questions, share their concerns and ideas, and to provide feedback.
OiA: Is more data always better? How much data should a company collect and keep? And since obviously security is a concern of yours – what are the security implications of holding this data?
LC: I always like to tell people to “be a data hoarder” and to store all the data you can afford. You may not use it today, but it could prove invaluable in the future.
Security is a major concern of mine – that’s why I founded StackPath. Unfortunately, every day there seems to be another breach and more data is compromised. The StackPath platform is an integrated response to a fragmented problem created by too many individual, appliance-based, bolt-on security solutions. It’s time to give businesses internet services that have security built in, not bolted on, so they can be reliable guardians of their data.
Please post a comment to this blog, and also let us know who we should interview next in our Business by the Numbers series.
While it’s usually best to just sit back with a bucket of popcorn and watch reality business drama unfold, I was surprised by the severe reactions insinuating Facebook’s eagerness to profit at the expense of its users’ data, creating paranoia around data analytics and equating data driven targeting to an underhanded practice of mind control.
So, it’s little wonder that we’ve also been reading a lot about GDPR, and how companies and industries will work after GDPR has become a reality. If this reality seems too far away, a company like Open-i Advisors can not only help you get GDPR ready, but also help you take full advantage of it throughout your company as you get more data-driven.
Check out these great articles about the post-GDPR world:
GDPR is changing the advertising industry. Client control over their own data will shift a lot of the common ways ads are run. Getting ahead of this change can put you ahead of the game. Learning how to interact with clients and potential clients in a post-GDPR world is vital to your company’s survival.
How Big Data Can Make a Big Difference in HR
This is an overview of the book The Data Driven Leader. While not specifically related to GDPR, it focuses on how being data driven can assist companies in making positive HR decisions. We’ve been reflecting on how the digital privacy transformation that’s coming with GDPR can translate to every single department, even HR.
It’s time to become data-driven (or die)
Want to know how to use domain data to drive more domain sales but don’t know where to start? You need to read this new whitepaper from Open-i Advisors and DomainsBot which provides crucial insights and practical suggestions.
- Use competitive analysis to discover new opportunities
- Build realistic personas with data to improve your customer experience
- Spend your marketing dollars more effectively
- Drive loyalty and retention with reactivation campaigns
Transform your domain business by putting data at the root of it.
This week, Open-i Advisors launched our own GDPR consulting service. Here’s a short reading list to end the week on, with a few GDPR themed articles we find fairly interesting.
Europe’s General Data Protection Regulation – comes into effect May 25, 2018, bringing with it new rules around data collection, storage and usage.
With data breaches making headlines on a regular basis, consumers are rightfully wondering how data is being collected, stored and used. The General Data Protection Regulation (or “GDPR”) is the European Union’s attempt at tackling this issue with a new rules around the collection, storage and processing of the information of EU Data Subjects – including end users, customers, and employees.
GDPR goes into effect May 25, 2018, and the penalties for GDPR non-compliance can amount to up to €20 million, or four percent annual global turnover – whichever is higher.
It’s very important to ensure your organization is compliant and this post will help you understand how to get your data under control before the GDPR deadline. Read More
FOR IMMEDIATE RELEASE
Open-i Advisors’ New GDPR Preparation Service Helps Hosting and Cloud Providers Map their User Data
Open-i Advisors guides clients through their GDPR compliance journey in a thorough, flexible, and cost-efficient manner.
Washington, D.C. — April 3, 2018 – Any business collecting, storing, processing, or otherwise handling data containing personally identifiable information on European Union citizens needs to plan for the General Data Protection Regulation (GDPR) which comes into effect May 25, 2018.
Open-i Advisors’ new GDPR preparation service makes it easy and affordable to assess how web hosting and cloud computing providers collect, store, and use customer data. Our data consultants are experts on mapping the way your organization uses data, finding possible risks, and determining what steps you can take to mitigate risks. You’ll be presented with a document that can be either assessed by our partner lawyers or your own legal team.
We work with you to create a report that includes:
- A summary of risk points
- A map of data flows by department
- A list of suppliers and other third parties with whom the client may share data (or who may share data with the client) with their GDPR statements included as relevant
- A list of all found public privacy or disclosure statements, ready for review
“By working with Open-i Advisors, you can save time and money by packaging up everything you will need to hand off to legal counsel so that they can address your needs in as low cost a manner as possible,” says Open-i Advisors Co-Founder Christian Dawson. “Our legal partners are experts on GDPR compliance, so if you’re looking for a holistic solution we can provide that as well”.
GDPR preparation from Open-i Advisors provides data expertise when you need it, with a data-consultant led discovery process, to analyze how data is used across your organization. Our process is straightforward and simple:
Initial Compliance Check: We speak with key people at your company to assess your data privacy risks and measure your current privacy controls against the GDPR.
Data Discovery – Internal: An extensive register of your organization’s current data processing activities will be produced, along with a comprehensive visualization of the organizational data life-cycle in its entirety.
Final Compliance Check: Open-i Advisors will highlight areas of anticipated concern to consider business process changes where necessary, and to discuss with legal counsel.
This GDPR preparation service is offered for a reasonable hourly fee, which will result in a low cost for your company to gain all the insights you need to identify internal changes needed by your organization.
Find out more about GDPR Preparation for Hosting & Cloud Companies here: https://openiadvisors.com/consultancy/gdpr-preparatory-consulting/
About Open-i Advisors
Open-i Advisors is a consulting company focused on Internet-related industries. Its hands-on approach helps organizations manage their customer data and determine their optimum market focus using next-generation industry segment data gathering and analysis. Open-i Advisors industry-expert consultants offer their experience and leverage a process that includes the power of quantitative data to better understand and actualize client goals. For more information, please visit www.openiadvisors.com.