Benefits of Data Democratization
In every company, some data should be kept for the daily operation of the company. All the important information of the organization should be made available to all employees for the company to meet its target fast. If all workers in the organization are allowed to access the companies data and information, they will learn and feel motivated to help the firm achieve its set objectives. Thus it is advantageous to allow all employees to access the company's data. Many firms used to prefer that their data and information should be accessed by the only specialist like the IT officials and the top managers. This was found to have several cons for the company was relying on some employees who when were absent everything could stop leaving the company with only one option which is to hire a specialist from outside to access and analyze the data for them. This is why many organizations today opt for data democratization. The process whereby all employees are allowed to access the firm's data for analysis and reporting their finding is known as democratization. The democratization has got many benefits to the company; these benefits are as follows. You'll want to know more about this.
The main benefit of data democratization in a firm is that most employees are empowered with skills in data analysis and interpretation. When access to data and other information is left open to all employees in the company, the employees get to learn about data analysis and interpretation. This will benefit the organization, because it will not have to rely only on the IT department for data analysis and interpretation for many employees will have learned the skills.
The second merit of practicing data democratization is that as the organization grow, it will not need to employ new data analysts. Companies grow as years change. As the firm will grow, the volume of data that it will be handling also will increase. So if the business relied on few data analyst, it would have to employ more people. But the business was practicing data democratization it will not have to employ new data analyst because most the employees will have the skills to analyze the data. Do check out https://blog.thefirstmile.io/the-case-for-data-democratization-data-scientists-cant-keep-up-nor-should-they/ for useful info.
The third merit of data democratization is that the secrecy of the organization is kept from leaking outside the company. All companies try by all means to prevent their secrets from reaching their competing firms. As companies allow all members to access their data, they want the employees to learn and have skills in data analysis so that they will not have to hire a specialist from outside who can leak their secrets to a rival firm.
These are the merits of opting for data democratization. Learn more about it here: https://youtu.be/9zXprfBqlyQ
