The date for compliance with the European General Data Protection Regulation (GDPR), May 25, 2018, is approaching fast. Are you ready? Read on to understand what GDPR is, why it exists, how it affects consumers and what marketers and their organizations need to do to abide by it. What Is the GDPR and Which Companies Need to Comply? The GDPR requires that all businesses that use European Union (EU) citizens’ personal information, no matter where their headquarters are, must observe privacy regulations related to that data. Given the global nature of most large corporations, it’s likely most need to prepare to fulfill GDPR guidelines now. GDPR includes rules related to how companies collect and protect personal data. The cost of non-compliance is up to four percent of an enterprise’s worldwide revenues or 20 million Euros, whichever is higher. Clearly, non-compliance can have damaging effects on an organization’s bottom line.