Data Management Flashcards
what is information
processed data, presented in a way that makes it meaningful or useful
what is data
raw facts and figures that have not been processed
what is primary data
data observed or collected directly from first hand experience
- meeting minutes
- drawings
- cost plans
what is secondary data
data that has already been collected and is published by someone else
- journals
- articles
- government publications
How do you safely secure data
- password protected files
- regular backups off site
- cloud storage
how long can you store data for
as long as reasonably necessary for it to be processed for its stated purpose
what is the GDPR
General Data Protection Regulation
- UK law relating to the processing of personal data. It sets out data protection principles, rights and obligations.
what are the principles relating to the storage of personal data
- lawfulness, fairness, transparency
- collection for specific + legitimate purposes
- data minimisation
- accuracy
- storage limitation
- integrity and confidentiality
- accountability
what is in the Data Protection Act 2018
sets out a framework for data protection law in the UK
- 3 key data protection regimes including general processing (GDPR), law enforcement processing, and intelligence services processing
- amended 2020 effetcive 2021 following Brexit and to be read in conjunction with
what are the penalties for breach of confidentiality
UK GDPR Penalties
Administrative Fines
Lower Tier Fines: Up to £8.7 million or 2% of the annual global turnover of the preceding financial year, whichever is higher. Lower-tier fines apply to less severe breaches, such as:
Failing to implement adequate technical and organizational security measures.
Failing to maintain appropriate data processing records.
Not promptly notifying the Information Commissioner’s Office (ICO) or data subjects of a personal data breach.
Higher Tier Fines: Up to £17.5 million or 4% of the annual global turnover, whichever is higher. Higher-tier fines apply to more severe infringements, including:
Violations of individuals’ privacy rights and freedoms.
Failure to adhere to the basic principles of data processing, such as lawfulness, fairness, transparency, data minimization, and confidentiality.
Failure to obtain valid consent or unlawfully processing special categories of personal data.
- Enforcement Actions
In addition to fines, the ICO (Information Commissioner’s Office) can issue:
Warnings or reprimands to organizations for non-compliance.
Enforcement notices requiring an organization to take specific steps to achieve compliance.
Stop processing orders or restrictions on data processing until compliance is demonstrated. - Compensation Claims
Individuals (data subjects) affected by a confidentiality breach have the right to seek compensation for both material and non-material damage, such as financial losses or emotional distress. - Criminal Offenses (under the Data Protection Act 2018)
While the primary penalties for breaches are civil fines, certain breaches of confidentiality could result in criminal charges under the Data Protection Act 2018, especially if data was knowingly or recklessly obtained, disclosed, or retained without authorization. These offenses can result in additional fines and, in some cases, imprisonment.
what are the individual rights under the UK GDPR
1.Right to be informed
2. right to access
3. right to rectification
4. right to erasure
5. right tot restrict processing
6. right to data portability (to use for their own purposes)
7. right to object
8. rights to automated decision making and profiling
what is an NDA
Non-disclosure agreement
- legally enforceable contract between parties relating to sensitive information
- creates confidential relationship
- if harmed by a breach then legal action can be taken to seek damages for any losses that were incurred
what are the limitations strengths and limitations of costar, goad, agents society and property planet
Limitations:
Data Inaccuracies: costar, agents society and property planet aggregates data from various sources, including self-reported information from brokers, property owners, and public records. As a result, the data can sometimes be outdated, incomplete, or incorrect.
Delayed Updates: Real estate markets change rapidly, and there can be a lag in updating property listings, sales, leases, and market trends. This can lead to decisions based on potentially outdated information.
Geographic Gaps - in more niche markets or in areas where there are less people there is less data
Sector focus - commercial based
potential bias
Strengths:
- extensive database
- broad geographic database
- good depth of information
- provides a wealth of historical data
- custom reports and analytics
Goad
- extensive coverage
- visual aid
- contextual data
- can track change over time
- narrow scope (specific for retailers)
- don’t show non retail amenities
- potential data lag
- absence of financial or demographic data
