Data access for everyone in the organization - Are you crazy?
Where does data live in your organization, and who controls it?
These may be some of the most important questions to ask within your enterprise today.
The pace of change is accelerating in the business world. Technological disruption has become a day-to-day reality, not a sometime event. And failure to keep pace is a very real threat. The lifespan of large business organizations is getting shorter in measurable ways: At the current turnover rate, half of the companies in the Standard & Poor’s 500 Index today may be gone from it a decade from now.
These disruptive currents demand that corporate leadership become more nimble, business processes more flexible, individual employees more engaged. Data can help do this. The technology that’s eating away at the old way of doing things is also bringing new tools to the business enterprise. Machine learning and other forms of artificial intelligence (AI) have brought a level of sophistication to the analysis of large data sets that was, until very recently, unimaginable. AI-enabled tools make it possible to automate processes we could never automate before. The same advances that are making life hard for organizations that resist change are making things easier for an enterprise that wants new ways to more accurately forecast demand, for example, or create more effective sales incentives.
What’s needed, as a first step, is broader access to the data that can be found today across every aspect of the modern business enterprise. Broadly speaking, data democratization is the sharing of data for new purposes — providing everyone access to the data that is relevant to their roles and easy to understand. The use of a cloud-based platform that uses real-time data can assist companies to develop instant performance insights that can quickly identify bottlenecks, recommend corrections and improve delivery performance, without gatekeepers that often create a bottleneck to the data. The goal is to recognize the individual and where they are in the organization and provide them access to the relevant data at any time to assist them in making informed decisions in real time.
Data is, of course, everywhere, and increasingly, it’s being democratized. We used to tell Facebook not to collect our location data when we weren’t using the app. Now, we tell it to collect real-time location data in the background and let us know when a friend is nearby.
Think about the wealth of digital information shared in a simple Uber transaction: the customer’s location, how fast the car is moving, pricing options, the first name of someone sharing your ride. All these bits of information are rocketing around to make this one specific service work better. And Uber, of course, collects all that information and, with its own AI and its own sophisticated algorithms, makes the entire enterprise work more effectively.
As much as we’ve become completely accustomed to the ever-expanding use of data in our everyday lives, we’ve moved much more slowly to get this same democratization of information in most workplaces. It doesn’t have to be that way.
For more information from KPISOFT on the democratization of data and AI-enabled analytics, Get in touch: Jay.firstname.lastname@example.org.