bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Saturday 23.03.2019 | Name days: Mirdza, Žanete, Žanna
LatviaLatvia

Expert: non-compliance with new Data Regulation may result in fines for businesses

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUThe digital marketing field will experience major changes this year, because businessmen will be under high influence from the new Data Protection Regulation, which has been added with stricter penalties for non-compliance. To clarify the changes businessmen and internet users can expect, BNN asked iMarketing.lv digital department manager Sergejs Volvenkins.

Website owners will have to inform every visitor about the ways they personal data could be used (if user data is collected).

2018 is the time when a new General Data Protection Regulation (GDPR) will start working across all of the European Union. New rules provide significantly stricter requirements in regards to user data protection. Website owners will have to provide users with the option to restrict the use of their data, the expert explains.

It is important to note that, according to Volvenkins, a fair penalty mechanism has been introduced to ensure businessmen’s compliance with new requirements. «The ceiling for fines is EUR 20 million or 4% of turnover,» says the expert.

The new regulation will come into force on 25 May. The regulation provides a number of updates and changes.

Advertisement content shown to users has to be much more binding

The expert notes that thanks to giants like Google and Microsoft, Machine Learning (ML) algorithms have become open source. This provides a significant stepping stone for development.

The expert says: «Let’s look at one example to get a general idea. The user enters your website (internet store). The system (ML) analyses the user’s behaviour and decides based on conclusions if the user is a ‘warm buyer’ and is ready to purchase a product. Later, the system creates advertisements based on the user’s behaviour algorithms to get the user’s attention on their next visit,» comments the expert.

Example: so-called warm users with a high probability of purchasing something can be divided based on their purchasing power. If one user’s behaviour shows that he is not sensitive to prices, the system will create product descriptions with information important to this user – expensive and specific products first, full price, underlined quality of specific products, expanded warranty, etc. If another user’s behaviour shows that the price is one of the most important parameters, the system will take that into account and adapt content for this user. This includes showing the cheapest products first and putting emphasis on discounts.

It should be added that ML works best with only large volumes of data (high numbers of users visiting the internet store), the expert notes.

Forceful advertisements create major losses

Non-binding and forceful advertisements create major losses for giants like Google and Facebook. More and more users prefer Ad Blocker to avoid having to deal with advertisements while surfing the internet.

According to estimates from different experts, more than 100 million units of ad-blocking software will be downloaded in 2020. The number of software units downloaded in 2016 was 44 million.

Experts say employers will likely hire people for so-called blogger positions

«Many businesses practice Influencer marketing approach, since it has proven to be very effective. Data demonstrates that people trust experts and publicly well-known people’s opinions, not advertisements,» explains the head of the digital marketing department.

The number of followers of different YouTube and Facebook channels exceeds the number of subscribers of many magazines. With that, Volvenkins says it is no surprise businesses want to use those channels.

What is augmented reality?

The expert admits that businessmen are actively searching for new and efficient ways of presenting their products online. Augmented reality is just one way of doing that.

Volvenkins says: «When purchasing a cabinet, a customer wants to picture how it will look in their room. Some companies already offer an innovative solution for this. Thanks to augmented reality, some furniture traders offer customers a way to ‘put’ a cabinet or other type of furniture in their room before purchase. Customers only need to turn on the camera on their phone and point it at the place they wish to put the cabinet.» iMarketing.lv digital department manager adds that the video game PokemonGo is one example of augmented reality.


Leave a reply

Crumbling buildings and the future of Riga’s slums

There are many empty buildings in Riga at the moment. However, Riga’s slums have a way to be reborn. One option is Rail Baltica, which could potentially change the situation with jobs in the city centre. Developers might have many complicated objectives ahead of them, considering that more and more people may decide to relocate to Riga’s central districts, said Riga city’s chief architect Gvido Princis in a conversation with BNN about Riga’s slums.

EC Vice-President: like other countries, Latvia has limited progress with EC recommendations

Latvia has limited progress when it comes to implementation of recommendations from the European Commission. Nevertheless, Latvia does not fall from the general EU context, when most member states have a small or limited progress with recommendations, said EC Vice-President Valdis Dombrovskis during a joint meeting with Latvian Saeima’s committees.

Comparing abortions to killing affects Estonian government talks

After figures of the Estonian Conservative People's Party compared abortion to killing of people, the party's partners in coalition talks have voiced criticism.

Latvian Olainfarm minority shareholders urged to attend shareholder meeting

Co-owners of Valerijs Maligins inheritance Nika Saveļjeva and Signe Baldere-Sildedze, as well as Annas Emīlija Maligina’s mother invite Latvian pharmaceutical company Olainfarm minority shareholders to attend an extraordinary shareholders meeting and actively propose their candidates for the council.

Social workers’ wages in Latvia to grow by average of EUR 145 a month

Latvian government has decided to allocate an additional amount of EUR 4.8 million to increase wages for state social care centres starting from 1 April 2019. This will allow increasing their wages by an average of EUR 145 a month. This is provided by the 2019 state budget that has been approved by the Latvian parliament in the first reading, as confirmed by Welfare Ministry.

Germany pushes for funding cuts to EU members violating core values

Germany's federal Foreign Minister believes the European Union should start reducing its solidary funding and introduce sanctions on member states that adopt legislation contrary to European values, for example, free press, rule of law and independent courts.

Association reports Latvia suffers the most from emerging HIV cases

In 2018, 326 new HIV infection cases were registered in Latvia, according to information from Disease Prevention and Control Centre. Inga Upmace, chairperson of Baltic HIV Association, says that even though this is less when compared to 2017, Latvia remains an unfortunate leader among Baltic States for emerging HIV infection cases.

Poll: 40% Britons have felt powerless or angry over Brexit

About 40 percent of the adult population of the United Kingdom have been feeling powerless, angry or worried by Brexit in the past 12 months, a mental health poll showed.

Riga City Council wants a large loan from Latvia’s State Treasury for bridge project

To finance the reconstruction of Krasta Street and Brasas Bridge, Riga City Council plans to take a EUR 14.23 million loan from Latvia’s State Treasury, according to documents added to the working agenda of Riga City Councils Finance and Administrative Affairs Committee.

EU postpones British withdrawal to April 12 or May 22

The United Kingdom has been given two extra weeks by the European Union to decide for the third time on its withdrawal agreement and to leave on April 12 if it is not passed or to leave on May 22 if it is passed.

Less precipitation expected in Latvia this week and more sunlight expected next week

On weekends the sky will be equally cloudy and sunny. Some rain is expected only on Saturday and the night to Sunday. On the night to Saturday, there will be clear sky and air temperature will drop to 0° C… -4° C, according to Latvian State Environment, Geology and Meteorology Centre.

Producer price level in industry in Latvia up 0.6% in February

Compared to January, the level of producer prices in Latvian industry rose by 0.6 % in February 2019. Prices of products sold on the domestic market grew by 1.2 %, but prices of exported products remained the same.

Latvian president proposes giving citizenship to all children born in Latvia

Latvia’s President Raimonds Vējonis has submitted to the Saeima a legislative draft On Ceasing Provision of Non-Citizen Status to Children. This draft suggests giving children born to non-citizen parents Latvian citizenship upon birth starting from 1 January 2020 unless parents have decided on giving their child citizenship of another country, as reported by State President’s Chancellery.

Expert: Latvia has not accomplished with reduction of inequality

In the past seven years Latvia’s government has not properly implemented the recommendations provided by the European Commission on reduction of inequality, European Anti-Poverty Network’s EAPN-Latvia board chairperson Laila Balga told LNT programme 900 seconds on Thursday, 21 March.

Ruling LFGU’s presidential hopeful Skvernelis unveils key foreign policy points

Lagging in the presidential polls behind the frontrunner Gitanas Nausėda and MP Ingrida Šimonytė, Lithuania’s prime minister Saulius Skvernelis, the presidential hopeful of the ruling Farmers and Greens Union, LFGU, is ready to move heaven and earth in attracting voters on his side.

Banks in Estonia adopt increased anti-money laundering regulations

The Estonian Banking Association has decided to task its member lenders to fullfil anti-money laundering due diligence measures in an attempt to further heal Estonian banking reputation scarred by the Danske Bank money-laundering scandal.

Penalty to be applied to people for causing trouble for whistle-blowers in Latvia

Additions to the Latvian Code of Administrative Violations provide the application of a fine of up to EUR 14,000 to a legal person for causing trouble for whistle-blowers or their family members, as reported by Latvian State Chancellery.

New Zealand bans sales of semi-automatic weapons after Christchurch shootings

Assault rifles and military-style semi-automatics have been banned in New Zealand in a government reaction to the Christchurch mosque shootings.

Latvian parties submit 15 candidate lists for European Parliament elections

Five more Latvian political parties and party associations have submitted candidate lists to the Central Election Commission for upcoming European Parliament elections. So far participating parties include the National Alliance, Latvian Association of Regions, Latvian Social Democratic Workers Party, New Conservative Party and KPV LV.

Study: 55.6% of businessmen complain about high taxes in Latvia

Looking at the amount of taxes companies pay, 55.6% of businessmen and CEOs said there are too high, 36.5% said taxes are a bit too high, whereas 7.2% said taxes are as high as they need to be, according to data from Turība University’s Business Index.

Brussels: EU to support short Brexit postponement, if London passes deal

In the Brexit saga, a no-deal withdrawal is possible again as Donald Tusk has warned EU leaders will only agree to a short delay if MPs back Theresa May’s deal in March.

Allowance for people suffering from serious disability to be increased by EUR 100 in Latvia

From 1 July the Latvian government plans to increase the allowance for children and adults who require special care and who suffer from serious health problems from childhood.

Latvian minister: we should work with convicts, not isolate them

People who are currently isolated from society in prisons should not be kept isolated – they should be allowed to re-socialize, said Latvian Justice Minister Jānis Bordāns at a press-conference about the study on former inmates’ abilities to re-socialize.

Brexit extension: Theresa May won’t as for more than 50 days

British Prime Minister Theresa May wants only a short Brexit term extension that will not exceed 50 days, as reported by The Guardian.

Business Index: 56.7% of businessmen in Latvia believe government hurt businesses

When asked about the influence Latvia’s government has on the country’s entrepreneurship, 56.6% of interviewed businessmen said the government interferes with the sector, whereas only 7.3% said the government provides assistance, according to results of Turība University’s Business Index.