With an estimated $17.7 trillion in value at stake as projected by McKinsey, organizations are driving a cultural shift towards data democratization to enable informed decision-making.
Democratization of data entails enabling access to data and deploying relevant tools and technologies to expedite data-driven decision-making at all levels of the organization. Empowering employees to use data for everyday tasks helps create a legion of 'data citizens' and takes organizations on the path to being data driven. Beyond centralized data management, data democratization helps organizations address inefficiencies, bottlenecks, and trust issues arising from data silos.
Data democratization meets an organization's need for agility, transparency, and accountability. It enables employees across functional areas and domains to contribute to business value creation. This PoV explores the impact of data democratization in reshaping aspects such as customer experience management and AI-driven innovation, and provides insights on the architectural shift necessary to support smarter decisions and enterprise innovation.
