While installing Ubuntu 12.04, "An error has occurred setting the element data"

Possible cause - Disk being 'Dynamic'.
Open Disk Management in windows 7 and check the 'Type' of each Partition.
if it shows 'Dynamic' then you cannot install ubuntu or any other distro. you need to change it to 'Basic' type which requires deletion of all partitions.
Better install it on a external hd or pendrive.