The startup revolution has changed the world today. You will find more innovative ways to get complete your tasks. There are solutions available everywhere and every field to serve you. The internet and innovation have been the key for startups to introduce unique and most innovating products and solutions.
The process of innovation is incomplete without using the data, and here the role of big data emerges. The use of big data is getting the momentum like never before. The data are being used by all the companies irrespective of the size and the field they are into.
In the realm of big data, of late, many startups have been launched in different verticals. The use of data about developing solutions is at peak, personal data of users are being stored and being used to understand their behavior, which is a key to any business.
The risk of huge data usage is considered as a threat by many, which some of the countries demanding for the implementation of regulations over the use of vast data. Many countries, including the European Union, have advocated for the ‘data minimization.’
Yes, the term sounds unique and rare, but in the coming years, it would be world associated with regulations in regard to usage of the data. It is very important for the startups to consider this aspect in the modern age of big data. Being a startup if are a developing any application for consumers, then you could need to follow a certain set of rules in the near future in regard to collecting data and using.
Recently, the European Union has included ‘data minimization’ in the Data Protection Act, which will come into effect very soon. As per the law, the collection of the personal data should not be excessive in relation to the purpose. There are possibilities that, such changes may be adopted by many other countries, including countries in the Asian Pacific region.
Data Minimization is the process of limiting usage of personal data to accomplish any purpose. But as the Internet of Things continues to grow, organizations are faced with more and more ways to collect more and more kinds of data, including and especially private, personally identifiable data.
Startups need to consider the data minimization serious because of three reasons, first, startups need to follow the regulations as data minimization is going to be added into the acts related to data protection. They need to abide by the new rules once those come into existence. Secondly, the startups should focus on data minimization as it will reduce their cost and budget. Thirdly, startups need to focus more on data protection, because any leakage of breaches could put you in trouble. In other words, there would much lesser hassles with minimum data and you assure your customers of security and privacy. Startups should take the advantage of the using minimum data, as its economical and secure.