In this Information Age, businesses have been inundated with all types of data from various sources—social, machine, and transactional data. Despite the rapidly growing flood of big data however, access to information primarily remains with those who have the technical capability to analyse the data.
Now, as more organisations realise the power of data to transform a business, many have recognised the need to make data more accessible to others. Hence, the conversation on data democratisation. In this post, we discuss what it is and why it could be beneficial to your business, why access to data was previously limited to a select few, and what you can do to implement a data democratisation strategy that equally addresses both risks and benefits.