Data Management Flashcards
What is UK GDPR?
This relates how to data is used by third parties.
Data most be processed lawfully, fairly and in a transparent manner.
Collected for a specified and legitimate purpose
Must be accurate and kept up to date. Inaccurate data must be rectified without delay.
Kept for no longer than is necessary for the purposes for which it is purchased.
What rights are protected for individuals in GDPR?
Individuals have the following rights:
-Right to erasure
-Right to be informed
-right to access
-right to rectification
-right to restrict processing
-right to data portability
-right to object
-right to automated decision making and profiling
What is the Data Protection Act 2018?
Companies must comply to this if holding data.
Applies to all personal data and gives individuals the rights to access their own data.
Data must be collected for legitimate and specified purposes.
Data must be kept and processed in a secure manner.
How to store and keep data secure?
Ensure access is suitably controlled.
Techniques include;
-password protection
-disc back-up
-Use of anti-virus software
-Firewalls and disaster recovery procedures
Ensure security of data.
What is copyright?
Exclusive rights granted to the creator of an original work.
Can be licensed, assigned or transferred.
Has to be acknowledged of duplicated.
what is the freedom of information act 2000?
Individuals right to access the information held by public bodies.
Normally has to be supplied within 20 days of request.
Extends to 3rd party contractors working for public bodies also.
What’s the difference between GDPR and the DTA?
EU’s GDPR no longer applies to the UK, but was supplemented in the DP Act. Other than firms who operate with the EU, mutlit national corps.
DM: How does my firm comply to GDPR when undertaking mailouts?
Ensure the mailout is only going to the specified party that has requested the details.
-that they have a right to opt out
-they are able to amend their requirements
-their data is kept secure
What training have I undertaken on GDPR?
I have undertaken training on GDPR when I joined the company and I have attend classes at the Colliers University online platform.
Key learnings:
- Data had to be collected for a legitimate and specified purpose
-the 8 protected characteristics.
DM: What is GDPR and DPA?
This relates how to data is used by third parties.
Data most be processed lawfully, fairly and in a transparent manner.
Collected for a specified and legitimate purpose
Must be accurate and kept up to date. Inaccurate data must be rectified without delay.
Kept for no longer than is necessary for the purposes for which it is purchased.
Individuals have the following 8 rights:
-Right to erasure
-Right to be informed
-right to access
-right to rectification
-right to restrict processing
-right to data portability
-right to object
-right to automated decision making and profiling
DM: What is the data protection act and what are the key elements?
Whois it policed by?
Whta is the fine?
-Companies must comply to this if holding data.
-Applies to all personal data and gives individuals the rights to access their own data.
-Data must be collected for legitimate and specified purposes.
-Data must be kept and processed in a secure manner.
-Data accountability, policed by theInformation Commissioner’s Office ICO - firms must prove how they comply with regs
-Data Breaches need to be reported to ICO within 72 hours where there is a loss if personal data and a risk of harm to the individuals,
Fine: £17.5m or 4% of global turnover (whichever higher)
DM: What are the limitations of these websites?
BCIS, LR, PM, planning portals
BCIS
-costs have increased quickly since covid
-Location parameters are not specified
-Based on valuers subjective picks - have to select , median, average, higher or low quartiles.
Promap
-mapping imagery out of date
Land reg
-Plans and registers may be backdated so have to wait for the new ones
-Some information may have not been digitised.
Planning portals
-out of date information
-some of the older records may have not been digitised.
-sometimes the systems just crash
DM: How do you ensure the data in your companies comp database is secure?
Password protected and contained within a file path that only my team can access.
DM LV2 Vals: What are the drawbacks of BCIS?
BCIS
-costs have increased quickly since covid
-Location parameters are not specified
-Based on valuers subjective picks - have to select , median, average, higher or low quartiles.
DM LV2 Vals: Why is accuracy so important when collecting comparable data?
To ensure that when studying the comparables I m comparing on the same basis. So I always confirm the data with the relevant agent to ensure I am quoting the correct figures as they may affect my valuation. This ensures accuracy within my reporting and meet the requirements of VPS2 of the RBG. (Investigations - verifying evidence)
I.e. Headline rent and net effective rent
