Article

Shyam Viking
Shyam Viking 11 January 2018

How to unlock the true potential of your business with Big Data Democratization?

Data is growing by leaps and bounds, and it is driving this new world of digital transformation. In each Nano seconds, individuals as well as organizations are generating a humongous amount of data in both structured and unstructured formats, leading to a piling up of at least 2.5 quintillion bytes per day.

This big data is highly significant for organizations that are looking to maintain a competitive edge by analysing these vast quantities of data and deriving insights out of it. 

Data is the new “oil” and the benefits it brings should be shared freely with all types of users in an understandable format with all the security and legal bindings in place. This data could be further refined or consumed for appropriate data–driven decisions.

To nurture a data-driven culture, every organization must follow the principle that data is for everyone, and it should be acquired, processed for leveraged the value, and after that, it needs to be shared in a structured and reusable format, for delivering the tangential benefits. There is no silver bullet solution for implementing data democratization in an organizational environment. It doesn’t happen in isolation with a framework built, data lake implemented, and a group of users or line of businesses making use of it.   It is a process and has to be embedded and called out into the regular Big Data Development Life Cycle. It requires the right blend of people, process, and technology to arrive at the innovative, valuable business decisions derived from Big data. To bring shape to this entire life cycle of data democratization, new practices like DataOps (Data + Operations) could catalyseze the ability to democratize, which mostly focuses on streamlining the goals of the business and bringing in more collaboration across teams. In a data driven organization, all these initiatives need to be monitored and mentored by the Chief Digital Officer (CDO).

Data Democratization is changing the way data is consumed, analysed and applied in an organization. However, some of the major challenges with data democratization lie in sharing the data without breaking the legal and privacy policies of an individual or organization. Organizations that are ready to embark on the journey of Data Democratization needs the strong support of the people, technology, and processes guided by the right strategies and implementation plans.

Original article published here.

Please login or register to add a comment.

Contribute Now!

Loving our articles? Do you have an insightful post that you want to shout about? Well, you've come to the right place! We are always looking for fresh Doughnuts to be a part of our community.

Popular Articles

See all
How to Review a Website — A Guide for Beginners

How to Review a Website — A Guide for Beginners

A company website is crucial for any business's digital marketing strategy. To keep up with the changing trends and customer buying behaviors, it's important to review and make necessary changes regularly...

Digital Doughnut Contributor
Digital Doughnut Contributor 25 March 2024
Read more
The Impact of New Technology on Marketing

The Impact of New Technology on Marketing

Technology has impacted every part of our lives. From household chores to business disciplines and etiquette, there's a gadget or app for it. Marketing has changed dramatically over the years, but what is the...

Alex Lysak
Alex Lysak 3 April 2024
Read more
How to Understand Your Customer Needs Through Social Media?

How to Understand Your Customer Needs Through Social Media?

Social media is generally known to be a tool of online communication that is used to easily share information and bring together people with similar ideas on the internet. But brands use them as a marketing tool. And...

Manisha Sukhyani
Manisha Sukhyani 29 August 2017
Read more
Sales and Marketing Collaboration: A Recipe for B2B Success

Sales and Marketing Collaboration: A Recipe for B2B Success

In the world of B2B, the age-old rivalry between Sales and Marketing often overshadows the potential for a fruitful partnership. Yet, when these two departments align their goals, strategies, and efforts, the results...

Zsofia Raffa
Zsofia Raffa 12 September 2024
Read more
3 Reasons Why Building Social into Marketing is a Significant Competitive Advantage

3 Reasons Why Building Social into Marketing is a Significant Competitive Advantage

Understanding the role of social media in your business is important; however, before you get caught up in tactics first ask yourself “Is my business social?” If not, or if you aren’t sure, here are 3 reasons why...

Anna Fox
Anna Fox 31 October 2024
Read more