Why do Organisation need to Democratize Data?

Since the beginning of the information age, the power of data was controlled by a few data analysts with specific skills since the rest of the workers did not have the capacity to use them effectively. Despite this, many other roles were benefited from data because data could make the best decisions based on the information that was provided

The democratization of data helps companies in the way they manage, distribute, and consume data. Typically, helping the organizations make a mindset shift for financial gain.

In addition, the main benefits are the eradication of bottlenecks, empowerment of workers, increased productivity, transparency and full data visibility.

The change in mentality is important, but the democratization of data requires an investment that is encompassed in three parts.

Budget: As in any project that a company is responsible for, this too ?long term investments are important, which can be a hindrance for the company.

Training: One of the most important points as employees need to know how to use different types of tools and processes that they are to follow. For this, companies must initiate training and key seminars on the novelties that may be used in the sector so that employees are comfortable, committed motivates to use them to the best of their ability.

Tools and software: Companies must choose the best means to guarantee greater accessibility and good interpretation of the data. The different tools must be correctly installed and must be aligned with the KPIs. The KPI or Key Performance Indicator concept refers to the measurements that are needed to synthesize the information on the efficiency and productivity in each of the actions taken by the company. KPIs are also quality indicators.

democratization of data offers us several advantages such as obtaining valuable information, measurement of variables and results, analysis of information and the effects of a proposed strategy and making appropriate decisions.

There is a wide variety of KPIs, but the most used and well-known are for marketing. These indicators help us to improve results, although they must be specific, objective, quantifiable, measurable, realistic, concise, consistent, relevant, continuous and periodic.

Depending on the type of strategy we take,and the means used, we can use different types of indicators. One of the currents that has become more important is online marketing and it focuses mainly on

·?????social networks - counting the number of followers, comments, mentions, etc.

·?????web analysis - keywords, follow, nofollow, quality, traffic, etc.

·?????and the general ones - conversion, click rate, level of interaction.

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For deciding which to use, it is necessary to previously know what topics we want to study and what data we want to obtain, becomes essential for obtaining real and useful data. After that, we need to set realistic goals, in order to choose the KPIs that are best suited. After choosing the KPIs, it is vital to analyse them periodically and, subsequently, evaluate the relevance of the information obtained.

When creating a strategy based on the democratization of data, it is necessary that the data is critical for the company. The first step is to unite the data with the interests of the company and, normally, the organizations that succeed are those whose decisions based on data are integrated into their strategies and innovation plans.

?Subsequently, a data-centric culture needs to be created and is one of the most critical parts of transforming the normal business into a data-driven organisation. After that, it is essential to take advantage of the information obtained and, finally, invest in the required technology and infrastructure.