Why GDPR is so important for all?

General Data Protection Regulation (GDPR) is a European law that lays ground rules for any entity that collects or uses personal data of European residents. GDPR also gives the right to users to object if they feel that their data was used inappropriately; they can demand to delete it completely. GDPR is important because,

- For those who think joining the GDPR crusade is optional, it’s not.
- Not complying with GDPR will result in paying fines (up to 4% of global revenue).
- GDPR also requires organizations to hire a Data Protection Officer (DPO) who will be responsible for control and reduce risks, creating a feasible data security policy, and ensure compliance.

Let me share the link to complete article which also mentions some steps to keep in mind before you comply with GDPR - http://www.algoworks.com/blog/getting-gdpr-ready-with-these-vital-steps/

This helps protects ones personal data for European residents.

TechRepublic has several articles outlining the importance. You can read them here: [url="https://www.techrepublic.com/topic/gdpr/"]https://www.techrepublic.com/topic/gdpr/[/url]

Although the GDPR follows the general EU data protection principles, it creates many new rights for individuals and new obligations for those who process personal data. It also defines what ‘processing’ of personal data means - any operation or set of operations which is performed on personal data or on sets of personal data, whether or not by automated means. Such operations include, among others, collection, recording, organization, structuring, storage, adaptation or alteration, retrieval, consultation, use, disclosure by transmission, dissemination or otherwise making available, alignment or combination, restriction, erasure or destruction of personal data.

The GDPR sets out the number of requirements for anyone who controls the personal data to the lawfully process personal data. If you do business in Europe or target EU citizens, you will have to comply with these requirements.

It also defines the what the "possessing" of personal data means- any operation or set of operations that are performed on personal data or group of personal data whether or not automatic means. Such operation includes collection, recording, organization, structuring, storage, deletion or destruction of personal data.

Let us say processing involves everything that is done with personal data by an organization. GDPR has a huge territorial scope which is another reason it gets so much attention.

As any law it's important since it can really affect your business.

I agree with what @victoria12martin joining the GDPR is not optional it must be followed by all. most importantly this is about protecting user's data in online world the main clauses in GDPR compliance says this:
"Personal information of any person is defined as their online presence. These include IP addresses or cookies that can be traced back to them. It also includes any physical, mental, economic, social or cultural features that may identify a person.
Companies should enforce reasonable protection protocols. These protocols apply to the storage, processing and safeguarding of data. Additionally, these include encryption, confidentiality and integrity of personal data. Similarly, restoration of data in case of disaster and testing of all data protection systems."
plus many solution providers are now offering GDPR compliance with it you can also consult with experts to get yourself GDPR compliant as well

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