The ever-expanding volumes of data being generated from multiple internal and external sources is increasingly challenging most organizations. Figuring out how to analyze, interpret, and use the data to gain market advantage is a key challenge all businesses are facing.
Data democratization means removing all the bottlenecks that restrict access to the data, providing an easy way to organize, understand and access it. The ultimate goal of data democratization is to expedite the decision-making process and identify new opportunities by getting the right data to the people who need it when they need it.
There isn’t a “silver bullet” approach because every business has a unique set of circumstances, but there are a number of common challenges that need to be understood before a holistic strategy can be formulated. The enabling technologies are also immature and evolving fast, making the situation even more difficult for businesses to take the first step.
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