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What is Data Democratization

When we speak of business data, there are a lot of the coming from many different sources. And to improve business performance, we need to get insights from these data. The demand for data democratization is increasing because of the large amount of data available and the availability of technology that can help even non-technical personal make sense of the data.

In data democratization, data is available to anyone and it is not just assigned to a single entity that guards that data and makes it difficult to access. But with data access, there is a need for an easy way for people to understand the data so that they can use it for their decision-making and uncovering more opportunities for the organization. It aims at opening up data to anyone, help them understand it so that they can use it for their decision making.

Before data democratization, it was only the IT department of organizations who had access to data. While business units like marketing, executives, and business analysts use data for their decision making, getting this data had to be through the IT department. For the last five decades, data has been held by IT departments.

For those who support data democratization, they find it important to distribute information across all working teams to gain a competitive advantage. Identifying and acting on critical business insights is possible if more people with different expertise can easily and quickly access data. if data access is allowed to any department of your company, then it empowers them to use the data in their decision making.

It is the concern of some organizations that easy access to data is also subject to misinterpretation especially by non-technical people which can result in bad decision making. If data is accessible to anyone, then there will be great security risk and challenges to maintaining the integrity of the data. If different departments make their own data analysis, then the work can be duplicated and it can be costly than just having a single centralized group to analyze data.

With a large amount of data being created, data democratization seems to be a more attractive alternative. Understanding data is no longer a problem these days since there are many tech innovations that non-technical people can use to help them.

A strong governance is necessary for an organization that democratizes data so that their data is carefully managed. There should be proper training for anyone on how to best use the data to drive company initiatives and progress.

With a large amount of data collected by organization and employees at all levels having access to then, then this will result in a revolutionized decision-making of the business. The full impact of data democratization is yet to be known.

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