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.