The General Data Protection Regulation: analysis of principles, impacts and effectiveness in the data-driven economy

Abstract

The starting point of the dissertation is the relevance of data in today’s society and the rapid growth of the data-driven economy in the recent years. The common thread will be the General Data Protection Regulation (GDPR), starting from the discussion of the background that has led to the regulatory framework, to the analysis of the GDPR principles and concluding with the practical application of the Regulation within a company and the evaluation of its repercussions. The aim is to evaluate the impacts and the effectiveness of the Regulation, to understand whether the GDPR represents an adding value instrument for the European Union. The first chapter will present the data-driven society focusing on the social and economic problems connected with personal data disclosure and the economic evaluation of data. The second chapter will discuss the specific principles of the GDPR and the entities compliance requirements. The last chapter will consider a case study to examine the application of the Regulation within an insurance company, especially with regards to the business organisation, analysing the internal audit procedures and cost implications. Finally, the fitness check of the Regulation will be conducted, evaluating the impacts and the effectiveness of the GDPR.

Key words: GDPR, data-driven, personal data, disclosure, economic valuation, privacy