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Why collecting less data is good for business

BY Matthew Brown

Collecting less personal data can indeed improve your business operations, and it’s an important aspect of data security and compliance. Here are some key points to consider:

  • Reduced Risk: Collecting less personal data means there’s less sensitive information to protect. This reduces the risk of data breaches and regulatory non-compliance, saving your business from potential fines and damage to its reputation.
  • Enhanced Trust: Customers are becoming more privacy-conscious. By collecting less data, you demonstrate a commitment to their privacy, which can lead to increased trust and loyalty.
  • Streamlined Processes: Managing and securing large volumes of personal data can be complex and resource-intensive. By minimising data collection, you can streamline your processes and focus your resources more efficiently.
  • Cost Savings: Data storage and maintenance can be expensive. Reducing the amount of data you collect can lead to cost savings, including reduced storage and security expenses.
  • Legal Compliance: Many data protection regulations, such as the GDPR in the UK & Europe, require businesses to collect only the data necessary for a specific purpose. By adhering to these regulations, you avoid legal issues and potential fines.

Sometimes, less is more.
  • Data Quality: Focusing on collecting only essential data can lead to better data quality. When you have less data to manage, it’s easier to maintain its accuracy and relevance.
  • Improved Data Management: With less data to handle, it’s easier to organise, analyse, and utilise the information you do collect effectively.
  • Faster Response to Data Requests: In cases where individuals request their data or seek to be forgotten (as per GDPR), having less data to manage makes it quicker and more efficient to respond to these requests.
  • Reduced Target for Cyberattacks: Cybercriminals often target businesses with valuable personal data. Collecting less data can make your business a less attractive target for hackers.
  • Environmental Impact: Storing data consumes energy and resources. By collecting less data, you contribute to a reduction in the environmental impact associated with data storage.

In summary, collecting less personal data aligns with both best practices in data security and privacy regulations. It can lead to improved business operations, reduced risks, and increased customer trust, making it a strategic choice for the data security and compliance in your business.

If you’d like to learn more about the personal data you process in your business, feel free to get in touch.

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