Britain has similar laws, of a similar age. We don't have a word for it, but I think there's an attitude that companies shouldn't be given more data than needed, and a suspicion when they ask.
"Personal data shall be adequate, relevant and not excessive in relation to the purpose or purposes for which they are processed." [2]
Which the guidance[1] explains as "So you should identify the minimum amount of personal data you need to properly fulfil your purpose. You should hold that much information, but no more. This is part of the practice known as “data minimisation”."
And how much data is google allowed to store about us?
And why isn't the user allowed to specify the amount of bits that google store about us?
There are 7 billion people on this planet. If I allow google to store at most 32 bits about me, then at least that data cannot uniquely identify me (roughly speaking).
"Personal data shall be adequate, relevant and not excessive in relation to the purpose or purposes for which they are processed." [2]
Which the guidance[1] explains as "So you should identify the minimum amount of personal data you need to properly fulfil your purpose. You should hold that much information, but no more. This is part of the practice known as “data minimisation”."
[1] https://ico.org.uk/for-organisations/guide-to-data-protectio...
[2] http://www.legislation.gov.uk/ukpga/1998/29/schedule/1/part/...