This is helpful, thanks. We have about 50,000 people on our db. This might be an excuse to delete about 40,000 of them.
Then the books auditor will turn up and say "Where is your old customer data?"
"Oh."
The more interesting part of the job is to find new ways to use data for useful, entrepreneurial things like profiling for marketing and customer retention and care. If we have to document explicit algorithms and get consent at every step like fumbling students trying to have sex in a highly-controlled university campus it'll be no fun at all.
I wonder what the likes of yer googles, facebooks and amazons are going to do. This sort of algorithmic profiling is part of their bread and butter, I thought.
Ten million Euro fine for non-compliance? Or 4% of turnover - whichever is larger? How many businesses and jobs are going to get vapourised if they enforce that?