Data and finance function

Question 1

What are Digital Assets?

Answer 1

These are digital files, such as PDFs, music, video and picture files. Users of such files are typically granted a license to use the asset by the creator or owner of the asset, but do not have ownership rights themselves.

Question 2

According to the UK Commissioner’s Office (ICO) what are the questions that organisations should consider with data?

Answer 2

1. Do you have record of what personal data is held and do you know what you use it for?
2. Do people know you have their personal data and what you use it for?
3. Do you only collect personal data that you need?
4. Do you only keep personal data for as long as it is needed?
5. Do you keep personal data accurate and up-to-date?
6. Do you keep personal data secure?
7. Do you have ways for people to exercise their rights?
8. Do you and your staff know their data protection responsibilities?

Question 3

What are the 7 benefits of Digital Asset Management systems?

Answer 3

1.) Reduced cost and space requirements to store assets
2.) Consistent and clear info to external users of assets and prevents duplication info can be attached to assets
3.) Use of metadata helps reduce time searching for specific asset and prevents duplication of content
4.) Improved security of assets through use of version controls, watermarking and embargo dates
5.) Improved sharing of assets helps build relationships between teams
6.) Better service to external customers as assets can be easily accessed through internet.
7.) User records provide data on usage and access to assets that can provide insights and help direct production of future assets that generate value.

Question 4

What are the 4 key features of sound Data Management?

Answer 4

1.) Culture- top-down approach to promoting significance of data for organisation.
2.) Chief Data Officer (CDO)
3.) Data Strategy - identify, store, provision, process, govern.
4.) Training