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Data minimization is the principle of collecting, processing and storing only the necessary amount of personal information required for a specific purpose. The principle emanates from the realisation that processing unnecessary data is creating unnecessary risks for the data subject without creating any current benefit or value. The risks of processing personal data vary from identity theft to unreliable inferences resulting in incorrect, wrongful and potentially dangerous decisions.
The principle of data minimization is a global, universal principle of data protection, and can thus be found in almost every legal or regulatory text on data protection/privacy.