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Innovating Accountably: How Data-Led Reinvention Is Motivating UK Businesses to Big Difference

Today, data is more important to business success and growth than ever before, not only in the UK, but all over the world. As the world continues to move deeper and more dependent on the visual space, every record, transaction, interaction and engagement across the complex cyber realm is generating data, which is in turn useful for other business and social engagements. This new order is creating more challenges leading to the development of new innovative technologies that are meant to provide solutions to existing challenges and further drive more innovations. In this wise, more and more new technologies are springing up to help drive the reinvention of business models so they can develop the best approach at meeting the needs of consumers and citizens interacting with the various aspects of business.

However, as data generation helps to bring innovative insights and solutions to businesses globally, there have been the challenges of identity and data protection. This unauthorized access to data by online hackers and criminals has constituted a threat to the privacy and identity of individuals and entities operating on the visual space. Since these challenges stretched across national boundaries, various governments’ interventions and regulations are required to be able to come up with sustainable solutions to halting the cyber menace. The UK is unrelenting in this regard as her government continued to come up with innovative regulation to checkmate irresponsible use of data.

Although data protection is a global concern, improving cloud technology and establishing regulations such as the General Data Protection Regulation (GDPR) by the government can help UK business owners to come up of innovative solutions to the cyber menace. This is possible because regulations such as the GDPR will help to drive the initiative towards advancing cloud technologies to the extent where they can guarantee data protection and consequently increase the pace and agility of business innovation processes.

Adequate and proper enforcement of regulations by various governments of different nationals concerning data protection can help drive the innovation required to bring lasting solutions to data theft and privacy invasion on the internet. This is why the April, 2016 approval of GDPR by the EU is timely and applauded. If properly implemented, the regulation is sufficient to help create compliance and drive innovating responsibility in the UK business sphere.

Thus, in order to ensure proper implementation of the regulations, the EU gave a 2-year window for Organisations to create the enabling environment and strategic approach required for them to comply with the law. The ruling is that by May 25th, 2018, any Organisation in the UK that failed to comply with GDPR will be fined up to four per cent of annual global turnover, or €20 Million – whichever is greater.

How is Data-Led Reinvention Possible?

The introduction of GDPR in the UK is hugely significant for businesses of all sizes and it will greatly affect how they gather, store, and look after their data. Upon the commencement of the regulation, businesses are expected to demonstrate that they can comply with the principles. In order to be free from sanctions, business owners will need to have documentation in place as evidence that shows how they are processing data, and if necessary they may need to employ a data protection officer to help them handle data processing and uses. If you are still in doubt on how your business can benefit from data-led innovations, the following highlights should give you some insights.

  1. It Enhances Improvements on Cloud Technology

There is no doubt that cloud technology can be the key to ensuring your business stays on top of innovation. With the enforcement of new regulations such as the GDPR, businesses are coming under the pressure to think out of the box. Possibly, some businesses can commission cloud technology providers to come up with sustainable initiative on how they can house their data flexibly and in the most appropriate and secure environments. Such responsible approach to data processing solution can help to increase the pace and the agility at which cloud technology is developing to help create new innovations for protecting data.

  1. It Encourages Sense of Trust and Expertise

If businesses can guarantee the safety of data in their domains, it can help to create a sense of trust in the mind of the customers and consumers that such businesses have the expertise to reach their full potential when competing in the digital economy. Once businesses can show the confidence that they can house their data flexibly and in the most appropriate and secure environments, there will be improved capacity to generate greater insights at a faster pace, since they would have one less thing to worry about.

  1. It Allows for Brand Collaborations

Data-led innovation has become the lifeblood of Organisations today, and brands are collaborating to advance the use of technology to transform essential experiences through responsible data collection and utilization. With the continuous rise in the use of data and a focus on working with it responsibly, the need for data protection is rising up in the agenda of brand leaders. Many notable brands have admitted that cloud strategy, if strategically advanced, have the capacity to help businesses stay on top of innovation by guaranteeing responsible data uses.

Concluding Thought

The fact about data being in the forefront of insightful innovations in today’s businesses is no longer negotiable. In fact, data is the new fuel for running business globally. It is an essential decision driver and by using data, businesses now have the potential to unlock even greater insights at a faster pace. Hence, adherence to GDPR and innovative cloud technologies are essential ingredients needed to build the trust and confidence needed to generate the data that can help to drive the UK digital economy.

Allteks is a managed IT services provider, delivering trusted advice to our clients since 2001. If you have any concerns about your online safety, call to speak to a security specialist

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