As the ability to easily access and analyze information spreads, problem-solvers find themselves more empowered to tackle business problems and identify opportunities with data. Making enterprise data available to more users in a controlled way is what the democratization of data is all about.
To ensure maximum growth and efficient processes, organizations seek to make valuable data available to the right people at the right time.
Hence, the democratization of data grows in popularity as more business leaders realize that in data-driven companies, data is everyone’s business. The resulting digital transformation, regardless of industry, drives increased business opportunity, relevance, and success.
Information Governance Controls and Informs
Due to numerous data management issues, information governance plays a key role in the democratization of data. Otherwise, chaos and error defeat innovation. Data catalogs, cloud archiving solutions, data modeling and other enabling technologies and factors accelerate the pace of data democracy.
Effective IG promotes greater awareness of and access to enterprise data sources. It increases data literacy which promotes understanding and usage of data assets. Furthermore, the necessary formulation of data policies keeps everything within bounds.
Data Catalogs Drive Insight, Accuracy and Speed
When building a data-driven culture, the soul of data democratization, businesses need an enterprise data catalog. A well-organized data catalog helps everyone in the organization answer business questions with insight, accuracy, and speed.
From managing data sprawl to enhancing productivity across the business, data catalogs are now an enterprise must-have.
Gartner says that demand for data catalogs is soaring as organizations struggle to inventory distributed data assets to facilitate data monetization and conform to increasing regulations.
Cloud Archiving Solutions
Similarly, cloud archiving solutions increase availability and reduce costs. Modern cloud solutions cover multiple data sources (both local and cloud). In addition, quick search capabilities save expensive resource time. And their efficient open architecture makes archived data easily exported or migrated.
Some solutions require no administration, resulting in reduced IT overhead and cost. They incorporate a sophisticated, easy to use search engine and superior eDiscovery capabilities. Hence, users perform search and export operations quickly while redundant storage and backup protect data integrity.
Modern data modeling also contributes to the new data democracy. Historically the best way to understand complex data sources, the scope of data modeling continues to expand. Its importance as the focal point of collaboration between data producers, curators and users also grows.
A key factor in this expanded role is that metadata is now the heart of enterprise data management, intelligence, and governance. Data modeling’s power to visualize metadata makes it essential in a data democracy.
Cloud Access and BI Technologies
Remote work has accelerated the adoption of cloud data access technologies. Indeed, everywhere access on any device is the backbone of democratized data. Without cloud access, data users spread across geographies and the organization would again be dependent on the data masters in IT.
In addition, modern Business Intelligence (BI) Products such as Microsoft Power BI put more power in end users’ hands. These tools offer everyone in the organization—from BI professionals to business users—powerful, self-service analytical and enterprise BI tools that drive better, faster decision making.
Power BI users enjoy amazing data-exploration experiences that look and work like the other Microsoft technologies they use every day. Numerous data connectors enable access to popular cloud and on-premises sources such as Excel, SharePoint, Azure SQL Database, Dynamics 365, and Salesforce.
Data Leadership and the Democratization of Data
The democratization of data, a rational response to the data explosion, highlights the need for data leadership at executive levels. As the Chief Data Officer (CDO) role spreads and matures, more data will find its way into more hands.
And, through data valuation, businesses that quantify the value of their information can better use those assets to generate more revenue for the company.
Finally, a comprehensive data ethics strategy supported by robust data governance tools ensures that data is not misused. Considering today’s data-savvy consumers, expanding data regulations and the revenue impacts of poor policy, ethics will keep the data flowing and the enterprise growing.
Democratization of Data in the NBA
In a prominent example, the NBA’s Miami Heat democratized organization data with stellar results. Their data sharing initiatives grew season ticket sales by 30% and cut operations costs by $1 million.
To make every game and team interaction memorable and increase fan engagement, the Heat organization relies on insights gained through Microsoft Dynamics 365, Microsoft Power BI, and Microsoft Azure. With these tools, the managers and staff can make sense of data and streamline operations.
“Microsoft has the best end-to-end cloud solution, including data integration, security, AI, and end-user visualization and analysis,” related the Heat business manager. “We have insight, accountability, transparency, and the ability to democratize data throughout the organization—we’re empowering everyone to make better decisions.”
When a game starts, decisions must be made quickly from locations across the venue to optimize foot traffic, boost sales of food, drinks, and merchandise, and give fans the best possible end-to-end entertainment experience. Because Power BI is mobile, it can push key metrics directly to employees’ phones.
“With Power BI, we’ve moved way beyond spreadsheets,” he says. “Data is always available, always current, and it serves as a single source of truth for everyone.”
Achieve Your Data Democracy
With proper governance, the democratization of data drives outstanding business results. Count on the data experts at Messaging Architects to deliver data democracy enabling tools and expertise. Start with solid information governance to discover, catalog, and protect organization data and inform potential data constituents across the enterprise.