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In the context of data privacy and protection strategies, the principle of 'data minimization' plays a critical role in ensuring compliance with global data protection regulations such as GDPR. A multinational corporation is planning to launch a new customer feedback system designed to collect personal data from users across the European Union. The project team is tasked with implementing data minimization to comply with GDPR requirements. Considering the need to balance data utility with privacy, which of the following best describes the principle of 'data minimization' that the team should adhere to? Choose the BEST option.
A
Implementing advanced encryption techniques to minimize the risk of data breaches and unauthorized access to personal data.
B
Collecting only the personal data that is absolutely necessary for the specific purpose of improving customer service and product quality.
C
Retaining personal data for the shortest period possible, only as long as necessary to fulfill the purpose of customer feedback analysis.
D
Applying data compression algorithms to reduce the storage space required for personal data, thereby minimizing costs.
E
Both B and C are correct as they both represent aspects of data minimization under GDPR.