The world-renowned technology research firm, Gartner, predicts that, ‘through 2024, 50% of organizations will adopt modern data quality solutions to better support their digital business initiatives’. As businesses consider the options for data analytics, it is important to understand the impact of solution selection.
Wise business owners and managers are taking on the challenge of implementing data democracy, digital transformation (Dx), and Citizen Data Scientist initiatives. The reason is simple! These businesses understand the benefits and the advantages of providing augmented analytics access to business users, thereby improving fact-based, timely decisions and improving the planning and forecasting process. These initiatives also optimize resources and allow the business to do more with less – which is something every business needs!
The focus of this article is on Data Democratization within the business enterprise, but the concepts and approaches involved in implementing this type of initiative are worth considering for any kind of major change within an organization.
The trend toward analytics is growing globally. Even the smallest business is jumping on the bandwagon, and with good reason. With market changes, shifts in customer buying behavior and the need to spend wisely, businesses must make data-driven decisions if they are to be competitive and plan logically for growth.
What matters most in your business? Don’t say everything, because there is no way you can place strategic focus on every aspect of the business and, although all of your goals and objectives should be aligned, there are, in fact, a smaller number of things hidden within your business that will impact your success if they are not attended to and that will give you the most benefit if you spend a bit more time organizing and planning activities and business processes around these things.
Small and medium sized businesses (SMEs) often find it difficult to balance the day-to-day need for data with the cost of employing data scientists or professional analysts to help with forecasting, analysis, data preparation and other complex analytical tasks.
