Beyond destroying data silos, efforts must be made to increase data transparency. Companies must prioritize and place a greater emphasis on building a more data-literate workforce.
Data has become a vital enterprise asset, with the speed, effectiveness, and reliability of business decisions increasingly dependent on data trust and transparency. Key stakeholders and Chief Data Officers (CDOs) need to focus on automating the collection of data assets, data discovery and search, and crowdsourced curation for data description and classification to increase data transparency.
These capabilities represent a lifetime of data collection, enhancement, and reuse that promotes organization-wide data transparency and awareness. Individual technologies can be used to integrate them, but most businesses use a SaaS-based catalog that acts as a platform to offer these features and support various user types, from highly technical to non-technical.
Several best practices need to be included in a CDO’s playbook. One aspect of it is the goal of developing a data culture with data transparency. This objective enables them to define the advantages in ways that positively affect the company and is a strategic business initiative. Additionally, it sets expectations for data providers and consumers. Second, it’s crucial to gauge and report the effects on the company. Even though they are complex, measurements that key stakeholders will attest to are essential for investment and support.
Eradicating Silos to Increase Agility
Different departments typically manage different types of data with function-specific applications for specific business requirements. Data is difficult to share and is not utilized in the same manner in this type of technology environment. Siloed data hamper business agility because it increases the likelihood that data will be duplicated across systems, kept separately, and governed separately.
Clean, consistent, accurate and updated data must be available and managed for data transparency. Even the most well-intentioned transparency efforts can fail without high-quality data. Even worse outcomes may result from a bad customer experience, creating mistrust and uncertainty. Therefore, a company must take action to increase data transparency.
Furthermore, a company’s data quality and availability directly affect time to market, customer experience, and its ability to compete. A company’s ability to operate effectively and provide the degree of trust and customer experience that customers have grown to expect is seriously hampered by data silos.
When creating a strategy for data transparency, the best place to start is with data governance, which involves knowing where data inputs come from, how it is stored, and who has access to what data. Even the documentation of these processes may reveal possible risks to business value or even more severe security threats. With enhanced data availability and transparency in place, cloud computing is the perfect solution to encourage adoption.
Decision accuracy suffers in enterprises that have data silos since it’s unknown and unclear if complete and relevant data is being utilized for future projections and to represent the current state of reporting.
The strategy for overcoming data silos and the problems they cause starts with an executive commitment to creating a data culture, which must be seen as a strategic and valued endeavor.
Consider Data Literacy, Certification, and Training
For employees to have a shared understanding of the data within an enterprise, a data culture develops standards for employee data literacy, offers open and transparent access to what resources are available, and establishes standards for quality, curation, and certification.
Each functional business unit must include data training in their employee onboarding process as it offers a review of data-related assets and authoritative data of an organization, the method used to maintain them, and it also sets expectations on how employees need to participate.
Moreover, when employees are recognized and rewarded, it sends a strong message and motivates them. Companies should use mechanisms like awards, newsletters, and executive callouts to reinforce the data culture.