94% of organizations believe data and analytics are important to their digital transformation & business growth, but most are not enabling a data-driven culture.*
Organizations are heavily investing in digital transformation technologies to develop a culture of Data-driven decision making. But little time is invested in reflecting on the usage of these BI tools. Being an organization with a culture of Data-driven decision making is no longer a luxury or a niche, it is the pressing need.
60% of employees, it takes hours or days to get the information they need; while only 3% can find information in seconds. The rest are still beating around the bush.
Organizations need to re-look at the way they are approaching Digital Transformation and technology. Enabling Data Democratization can be the game-changer for successful digital transformation.
What is Data Democratization
Bernard Marr in his best-selling book “Big Data in Practice” defines it as“Data democratization means that everybody has access to data and there are no gatekeepers that create a bottleneck at the gateway to the data. The goal is to have anybody use data at any time to make decisions with no barriers to access or understanding,”
So, why should you care about Data Democratization?
More people with diverse expertise who have the ability to access the data easily and quickly will enable your organization to identify and take action on critical business insights.
There are many professionals who believe data democratization is a game-changer.
When you allow data access to any tier of your company, it empowers individuals at all levels of ownership and responsibility to use the data in their decision making.
But as it’s said, every coin has two sides, Data Democratization does come with a few concerns.
Creating a data-driven culture is not as bright and sunny, as it sounds. Here are a few points that you might want to reflect on before going all-in for Data Democratization.
- Only goldsmith knows the actual value of gold: With access to data to all, misinterpretation of data by non-technical employees can be a major point of concern. An incorrect conclusion can lead to bad decision making.
- Data Security and Governance: As data moves in multiple hands, it’s important to keep a track on who is able to access which data, to ensure that data integrity is maintained.
- Scattered Data Resources: Although organizations have been working towards creating a single source of truth, for most of the organizations, it is still a long way to go. This makes it difficult for people from different departments to access data, view it and have uniform insights towards decision making.
Though these concerns may be overwhelming and may act as a roadblock, innovation has its way of proving itself. Today products like Beagle are the answer to all the organizational concerns. Beagle provides personalized insights in the simplest form on your messaging platform.
Beagle might be a good option for you to explore. A personal Virtual Analyst, that provides you instant byte-size information in the form of cards. Its advanced domain data mapping and built-in advanced analytics module make it a go-to platform for all your data analysis needs.