7.3 Creating value from digital assets & Data protection and privacy

Question 1

Digital assets are

Answer 1

• assets held by a bus in digital form that do not have physical substance
• eg: images, animations, audio, video and pdf files
• the volume of digital assets is rising rapidly in line with the increase in use of internet, connectivity, and mobile tech.
• they have become a significant part of modern bus and must be managed in order to leverage them to their maximum

Question 2

A digital asset management system (DAM) is

Answer 2

• is designed to coordinate the digital assets and to ensure they are held centrally in an accessible, secure and logically designed place
• the FF would be involved in building a bus case for investing in a DAM, finding a provider and managing changes in working practices

Question 3

Features of DAM system include:

Answer 3

• DAM systems are essentially a database designed specifically to manage digital assets
• single central location for storing and accessing digital assets
• often facilitated by cloud based software, supporting security and allowing access from any location
• access levels built into system which allow access only to those authorised
• assets are categorised by format with associated metada describing the content to help with searching

Question 4

Benefits of a DAM system:

Answer 4

• strengthens relationships across teams by facilitating the sharing of assets and content
• improve service to customers and partners through easy asset sharing through web portals
• a standardised approach to metadata eliminates wasted time spent searching for files and prevents duplication
• cost and space saving through use of cloud tech designed specifically for purpose of managing digital assets
• version control, watermarking and embargo dates allow for increased security and protect assets from improper or untimely use
• provides valuable data on the usage and access of digital assets which can give insight into the types that generate value
• copyright and contact info can automatically be attached to every digital asset which provides consistency in publication and clarity to external users

Question 5

Data protection can be defined as:

Answer 5

• the process of safeguarding important info from corruption, compromise or loss

Question 6

Businesses as a minimum must ensure

Answer 6

• they are compliant with data protection legislation such as GDPR in order to avoid potential fines and legal action
• ideally a bus should go above and beyond this requirement by having a strong moral and ethical stance on how and why they handle data (CDR)

Question 7

The UK information commissioners office (ICO) outlined key questions that should be asked and if can’t be answered immediate action must be taken:

Answer 7

• Do you have a record of what personal data you hold and do you know what you use it for?
• Do people know you have their personal data and how you use it?
• Do you only collect the personal data you need?
• Do you only keep personal data for as long as it is needed?
• Do you keep personal data accurate and up to date?
• Do you keep personal data secure?
• Do you have a way for people to exercise their rights regarding the personal data you hold about them?
• Do you and your staff know your data protection responsibilities?

Question 8

Features of modern org structure and their approach to data:

Answer 8

• Chief data officer (CDO)
• Data strategy
• Culture
• Training

Question 9

Chief data officer (CDO):

Answer 9

• is an increasingly common executive role in larger org.
• the CDO is responsible for governance and protection of data and for strategies to optimise the use of data as an asset

Question 10

Data strategy:

Answer 10

• is now a deliberate and integrated part of overall corp strategy
• Five key building blocks of data strategy:
  
  • Identify - what data does a bus have and require?
  • Store - what structure and storage will give access to data and ensure it’s protected?
  • Provision - ensure data is packaged to allow easy use and relevant access levels
  • Process - data should be designed for easy, clear and consistent processing
  • Govern - establish clear, consistent, user friendly policies on the use and storage of data to ensure correct use and minimise risk of data breaches

Question 11

Culture:

Answer 11

• it is essential to promote the significance of data at all levels of the org
• this must be led from the top to show intent and commitment

Question 12

Training:

Answer 12

• data awareness training is increasingly mandatory to ensure compliance with legislation