A solid data democratization strategy is essential allowing businesses to go full throttle in the data-driven economy.
Enterprises need to manifest the best strategic implementations for robust data democratization by mapping out an effective data management architecture that incorporates a combination of processes, tools, and software. Here are a few ways enterprises can manifest data democratization.
In a growing organization, the data’s volume, variety, and velocity are overwhelming, bringing challenges associated with its management. This results in data siloes accessible by relevant teams in an organization offering a short-sighted vision of the data to the users. Understanding the entire ecosystem and the fragmented systems provides the users with a comprehensive view of assets with relevant metadata and context. As these assets comprise an integral design of the integrated data space, users feel confident about the relevance of the data.
Also Read: The Must-Haves for Successful Data Democratization
Only some of the data is created equal, hence ensuring the place from where the data is retrieved is crucial. Effective data source mapping allows businesses to assign confidence to establish rules with substantial steps. Data source mapping concerning democratization activity will enable individuals or groups within the organization to gain access to specific sources. Additionally, after mapping the data, businesses often end up with consolidated contact data, response metrics, and intelligence elements utilized for a brief number of downstream activities. Therefore, enterprises need to know what kind of data comes from these sources.
Apart from enabling broad access to data, harnessing its real value during data democratization is crucial. Enterprises need to combine data analytics and reports in the daily routine to foster successful democratization. Effective self-service requires an analysis dashboard with the right data. By instilling trust in the data, businesses can compel users to utilize it. Data quality software, management platforms, and integration solutions will ensure better adoption and solid data quality. At the same time, efficient onboarding and continuous training must be crucial as a strategic priority to ensure non-technical users are aware of the data utilization. This allows an adequate determination of the success of the data democratization efforts.
Making the collected data accessible has its benefits. However, data privacy and ethical issues cannot be ignored, especially data with sensitive information containing Personally Identifiable Information (PII). Solid data governance will incorporate effective measures regarding data access within the democratization and extended business objectives.
Businesses need to sieve what data needs to be hidden or made inaccessible from a user or a group of users to fend off data overload that minimizes security threats. Effective technological security and solid levels of encryption should be established as data is stored and transferred.
Data democratization and data-driven decisions involve legacy and present-day data. Hence businesses need to unlock the data associated with legacy data silos and systems through data integration tools and a robust architectural design. This ensures interoperability between cloud-based systems, legacy databases, and data management platforms. Additionally, businesses must warrant an effective middleware strategy to unify multi-sourced attributes within the data management strategy. This necessitates building a master data warehouse connected to all the systems and sources of relevant data while creating multiple divisional data warehouses with specific purposes.
Also Read: Need for Data Democratization in Industry 4.0
Enterprises need to ensure that appropriate strategies are aligned with the technology and processes required to accomplish the targeted goals. This will assist in mapping out a plan for data democratization tools and frameworks. When done correctly, organizations will be able to maintain a unified source of truth within a database of records, which can then be accessed or distributed to the teams across the business.
Data democratization effectively increases the value of business data. This data can be utilized to establish a competitive advantage by incorporating democratized data and analytics into best practices.
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Apoorva Kasam is a Global News Correspondent with OnDot Media. She has done her master’s in Bioinformatics and has 12+ months of experience in clinical and preclinical data management. She is a content-writing enthusiast, and this is her first stint writing articles on business technology. She has covered a wide array of crucial industry insights like Blockchain, strategic planning, data analytics, supply chain management, governance, compliance, and the latest industry trends. Her ideal and digestible writing style displays the current challenges, and relevant mitigation strategies businesses can look forward to. She has a keen interest in the latest enterprise trends like digital transformation, cloud, and enterprise resource planning. She looks for minute details, while her excellent language skills help her deliver a crisp-looking, niche-specific message through her articles. She is looking forward to exploring her writing styles and portraying her thoughts that can help enhance organizational effectiveness, business performance, and sustainability. Apart from writing, she enjoys spending time with her pet and reading oncology publications.
