- Data democratization empowers users by granting them control over their data, allowing them to understand its usage and potentially benefit from its insights. This transparency translates to businesses as well.
- By implementing data democratization strategies, organizations can avoid data overload and unlock valuable opportunities.
- Data democratization itself has three pillars: data analysis (identifying data origins and ownership for accountability), data sustainability (secure and accessible solutions for both privacy and usability), and data governance (clear guidelines for access and usage).
- Unified data management complements this by creating a central system for data. This eliminates data silos and fragmentation, making information more accessible and reliable for everyone. This, in turn, fosters collaboration, better decision-making, and a data-driven culture that fuels innovation and success.
Imagine having unbearable tooth pain one morning and immediately making a dentist appointment for the next hour. When you arrive at your dentist’s office, the receptionist calls you into the examination room after having you fill out a physical form with your information. The dentist looks at the sore spot, sends you to another facility for an X-ray, and advises you to take painkillers until you get the X-ray results. You visit the clinic your dentist has advised, provide your information, and then bring the results back for additional assessment. Your dentist suggests a procedure that will need you to visit another hospital and give them access to your data and medical history.
Consider your diagnosis, course of treatment, and the locations and platforms on which you disclose your data.
Do you know the location where this data is stored?
How is it protected?
Why are clinics and hospitals keeping your data on hand? This information could be utilized for medical research or analysis to create a new treatment. Alternatively, the information might be utilized to study customer behavior.
Empowering Data Ownership: Strategies for Data Democratization in Business Operations
The fact that modern consumers are unaware of how and where their data is being used is alarming. Your information is exposed to data breaches that could compromise your identity and cause you harm. Stewards occasionally use the data they collect to create various financial benefits.
Each individual has ownership rights over their data, giving them a stake in how it is used and the possibility to make money off it if it is used to derive financial benefit.
Data democratization gives owners access to their data to get the most value outside the IT department. With data democratization, data owners can fully own their data. Data management strategies for the companies that store their clients’ data must contain a plan toward data democratization.
The top three ways that data managers can incorporate Data Democratization into their data management strategies are as follows:
1. Data Analysis:
The digital age has transformed businesses into data repositories. According to IDC, the global datasphere is expected to reach a staggering 175 zettabytes by 2025. This vast data sprawl, however, can be a double-edged sword. If the data contains sensitive information, redundant, obsolete, trivial (ROT) information, cold or hot data, or both, it is necessary to determine the source and true owner of the data. The first step toward democratizing data is for businesses to identify the data source, which can be done with this data analysis.
This initial step is crucial. Understanding where the data comes from, whether it’s internal systems, customer interactions, or external sources, helps us assess its accuracy and relevance. Additionally, pinpointing the data owner – your company, a customer, or another entity – ensures compliance with data privacy regulations. This process of source and ownership identification lays the foundation for data democratization, making this valuable asset accessible and usable across the organization.
2. Data Sustainability:
Data security is paramount after valuable insights are extracted. Depending on the type of data and its intended use, data may be generated and stored in one or more places, while in other circumstances, it may be sourced/created and stored in multiple places. To decide which data in a distributed model requires access, it is essential to know what critical data is kept in Data Lakes or other IT-managed systems. According to a Cloud Storage Research 2023 study, the global cloud storage market is projected to reach over $376.37 billion by 2029.
Data democratization thrives on balancing accessibility with robust security. For massive, frequently accessed datasets, a hybrid cloud model offers the best of both worlds: on-premise security with cloud scalability and flexibility. Data owners control access with permission-based systems. Enhanced security combines on-premise measures with cloud disaster recovery benefits. Improved interoperability within the hybrid cloud allows data to flow seamlessly across applications, fostering collaboration and knowledge sharing.
3. Data Governance:
Data governance acts as the guardrail for data democratization. An effective plan outlines how data is accessed and processed, ensuring authorized users have the information they need. This delicate balance empowers employees while safeguarding sensitive data. Governance establishes clear guidelines for data classification, prioritizing access to the most relevant information for different groups. There must be a clear understanding of what data should be available & accessed or deleted or inaccessible from group to group to avoid data overload and other information security risks.
Data democratization is a transformative shift in how organizations leverage information. It empowers employees across departments to access and analyze data, unlocking valuable insights that fuel better decision-making and improved outcomes. However, the sheer volume of data generated today can be overwhelming. This is where unified data management steps in.
Unified data management acts as a central nervous system for your organization’s data. It eliminates data silos, fragmented storage systems, and inconsistent processes. By implementing standardized practices, unified data management makes data more accessible, understandable, and trustworthy for everyone, regardless of technical expertise. This paves the way for a truly democratized data environment where everyone can contribute to data-driven success.
To learn more about how Data Dynamics can help you chart your move toward data democratization, please visit www.datadynamics.com or reach out to us at solutions@datdyn.com or (713)-491-4298.
