Depending on who you are, hearing the word “data” can mean the myriad digits that together create the basis for a website or application; or the information the average end user requires to make a purchase or sign up for a business course.
Traditionally the domain of data scientists, analysts and tech developers, data has become a mine of precious information that can move companies in new directions and even disrupt entire industries.
TD Global’s job is to take your organisation through the process that starts with “code” and ends with “profitability”. In other words, we marry the correct data from your legacy systems and create a platform from where the right people can access the data at the right time and in the correct context. This is what data democratisation is: Extrapolating the precise data you need to service a particular market, or gain information about that market for use as a business growth tool.
Who owns your data?
Until recently, data was coddled in the hallways of the IT department; those gatekeepers who ensured it was collected, monitored and backed up. Anyone needing information to make a business decision had to jump the hoops of IT to reach the golden beast – and hope there was someone immediately available to explain it to them.
Fortunately, with the rapid growth of data as a business tool and analysts who are able to extract its value, that scenario no longer exists. However, what we have now is data that is more easily understood by more people but that requires certain processes to make it accessible to the right people in a secure and speedy manner.
TD Global believes that using data for decision making, customer service, sales and unlocking opportunities is game changing for any business. But first, organisations must review the processes required to democratise their data and ensure its usability and safety by its key users. This means looking at all aspects: Challenges, possibilities and company culture, all of which our experts at TD Global will walk you through.
Challenges to overcome when democratising data
To face the barriers to data democratisation head-on, challenges must be highlighted, discussed and solutions found to ensure data works for you. Here’s what the TD Global process of overcoming any hurdles looks like:
Personnel pushback: Concerns about data integrity are real, and management needs to be taken through the process of data modernisation (cleaning and updating); data governance (security and responsibility); data monetisation (what your data can achieve); and the value and challenges of giving access to a large group of users. This stage requires explaining the framework of data protection and sharing; as well as training all appropriate staff members for full buy-in, compliance and efficiency.
Inclusivity: While many organisations have seen the value of breaking down data silos, some still exist, where only executives or IT personnel have access to data, rendering those who use it helpless to make on-the-spot decisions based on the data. Once your data is secured and analysis available, TD Global will ensure the right people have access to the right data when they need it.
Analytics: TD Global ensures that each client has the appropriate tools to assist in data analysis. This means extrapolating the most meaningful sections of the data your business has collated, to unleash the power and value of the information, creating either new revenue streams or expanding market share.
Taking the TD Global data democratisation journey
While data democratisation is still a relatively new process, the TD Global specialists will ensure your organisation’s journey starts with the proper preparation; moves through the process methodically; and provides a dynamic platform from which you start to see the results of data sharing almost immediately.
By allowing employees – and outside users where appropriate - at all levels to access insights from your data, the process of evolving from legacy data to democratised data can be revolutionary for your organisation. Ongoing governance, maintenance and modernisation to ensure clean, usable and legally compliant data is part of the journey that TD Global will take with you or do for you.
With the vast amount of data being created every day by businesses and individuals, Big Data is a key driver of revenue globally. However, without streamlining it and making it accessible – physically and intellectually – to all who need it, valuable data could keep your business static. Freeing up your data to enable growth and positive change can revolutionise the way you do business and with whom.