Using data to inform business decisions and provide a better service is crucial for the success of any organisation. But in order to make that happen, organisations need the right tools and technology to access accurate, high quality data. Fortunately, there are many different software products available on the market that can help businesses collect, store and analyse their data. However, some of these tools are more effective than others and it is important to understand what each one offers before deciding which one is best for your needs.
Whether you are looking to improve the customer experience, increase revenue, or enhance productivity, the ability to analyse data and take informed decisions is key to success. But in today’s fast-paced and competitive environment, companies need more than just the right technology; they also need the right talent to drive their data analytics initiatives forward.
That’s why the Hong Kong government has announced that it is aiming to establish a specialised data protection professional designation by 2022. This new designation will be a requirement for companies who use data-related technologies to ensure that their processes are compliant with the PDPO. This includes companies that use algorithms to learn about individual behaviours and those that process information that will have an impact on an individual’s life.
As a result, the demand for specialist data protection professionals is expected to rise in the coming years. This is good news for those who wish to pursue a career in this exciting and growing field.
A more comprehensive definition of personal data – aligning the law broadly with current international standards. This would bring in the obligation to notify an individual of certain details about how his or her personal data will be used.
An enhanced requirement to obtain the consent of an individual before processing their personal data for direct marketing. Failure to do so is a criminal offence punishable by a fine of up to HK$500,000 or imprisonment for up to three years.
The requirement to undertake a transfer impact assessment if the data exporter is in an EEA member state and the data subject’s personal data will be transferred to a third party in another EEA member state. This is similar to the requirement in GDPR, although the assessment will be more comprehensive.
The PCPD will review the latest global regulatory framework on cross-border data flow and communicate with the Government on ways forward which best suit the local circumstances of Hong Kong. This will include the release of a model contract and guidance on the undertaking of transfer impact assessments. This will be a timely and valuable step for the industry.