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It is important for companies to implement these rules if they do not want to pay a 20 million euro fine

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It is good because they are prohibiting the selling of private data in which your contact and private information should be only availabe only with your concent.

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To prevent misuse of  data, like for instance the generation of annoying personalised advertisement

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To update the privacy laws so that they reflect and keep pace with the way the technology landscape has changed over the last 20 years

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The EU General Data Protection Regulation (GDPR) replaces the Data Protection Directive 95/46/EC and was designed to harmonize data privacy laws across Europe

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transparency about published and private Information

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To unify the 28 disparate privacy laws of the EU member states.

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To keep private data safe and protect both parties.

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in order to keep it private

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to handle private information appropriate

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approved by the EU Parliament on 14 April 2016. Enforcement date: 25 May 2018 - at which time those organizations in non-compliance may face heavy fines.

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To protect citizens from identity theft in an extending digital world

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Because it protects the personal data.

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Data Subjects have the right to request the erasure of their own Personal Data if certain conditions are met. That is, they can request the deletion of Personal Data if they do not wish to allow the Processor or Controller to use it. The Controllers should be able to carry out the erasure without delay and provide documented proof that the Personal Data was removed. This gives the power to the Data Subject on whether Personal Data is or is not used. This right only applies to the Data Subject’s information.