During the installation, the following error occurs even when logged in with an Administrator's account.

"You do not have access to make the required system configuration modifications.
Please rerun this installation from an Administrator's account."

Solution:

The error "You do not have access to make the required system configuration modifications" is usually caused by inadequate permissions in 'HKEY_LOCAL_MACHINE\Software' and the 'HKEY_CLASSES_ROOT\CLSID' registry keys and their subkeys.

I suggest you make sure you have logged into the system as an Administrator but not another administrator type account.

You can also refer to this article to see if it can help you:

Installation Steps for Windows 8

Vista/Windows 7 and 64-bit and QODBC