In times of digital transformation, there is a concept that is rising in importance across innovation-led businesses. This concept is Data Democratisation. Companies of all sizes are searching for ways to make data quickly and safely available.
But what does “Data Democratisation” actually mean? Forbes made it easy to understand when they stated that “Data Democratisation means that everybody has access to data and there are no gatekeepers… for people to understand the data so that they can use it to expedite decision-making and uncover opportunities for an organisation.” In the real world, however, other aspects come into play. Forbes’ statement is more of a vision than an actual plan.
Companies often find the need to meet the vision of Data Democratisation with different levels of openness, and on such a dynamic journey, there are 3 requirements;