IHS Data Use Agreement: Everything You Need to Know
The use of data has become increasingly important in today’s technologically advanced world. Companies collect and analyze data from a multitude of sources to gain valuable insights that can help them make informed decisions and improve their services. However, with the rise of data use, there has also been an increase in concerns surrounding data privacy and security. This is where the IHS Data Use Agreement comes into play.
What is the IHS Data Use Agreement?
The IHS Data Use Agreement is a document that outlines the terms and conditions for using data provided by IHS Markit, a leading provider of critical information and analytics for the major industries and markets. The agreement is designed to protect the privacy and security of the data while ensuring that it is used appropriately and responsibly.
Why is the IHS Data Use Agreement important?
The IHS Data Use Agreement is important for several reasons. Firstly, it ensures that the data provided by IHS Markit is used in compliance with all applicable laws and regulations, including data privacy laws such as the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA). Additionally, the agreement specifies that the data cannot be used for any illegal or unethical purposes.
The agreement also includes provisions for data security. It requires users to implement appropriate technical and organizational measures to safeguard the data from unauthorized access, disclosure, or destruction. This includes measures such as encryption, access controls, and regular security audits. By ensuring the security of the data, the agreement helps to protect the privacy of individuals whose data may be included.
What are the key terms of the IHS Data Use Agreement?
The IHS Data Use Agreement includes several key terms that users must agree to in order to access and use the data. These terms include:
– Purpose of Use: The data can only be used for the specific purpose outlined in the agreement.
– Data Protection: Users must implement appropriate security measures to protect the data from unauthorized access, use, or disclosure.
– Confidentiality: Users must keep the data confidential and cannot disclose it to any third party without prior written consent from IHS Markit.
– Compliance with Laws: Users must comply with all applicable laws and regulations, including data privacy laws.
– Data Retention: Users must not retain the data for longer than necessary to achieve the purpose of use.
– Right to Audit: IHS Markit reserves the right to audit users’ compliance with the agreement.
What happens if you breach the IHS Data Use Agreement?
If a user breaches the IHS Data Use Agreement, it can have serious consequences. IHS Markit may terminate the agreement and the user’s access to the data. Additionally, the user may be subject to legal action for any damages caused by the breach.
In conclusion, the IHS Data Use Agreement is an important document that outlines the terms and conditions for using data provided by IHS Markit. By ensuring compliance with data privacy laws and implementing appropriate security measures, the agreement helps to protect the privacy and security of individuals whose data may be included. Users who access and use the data must agree to the terms of the agreement and comply with all applicable laws and regulations to avoid serious consequences.