Benefits of data democratization

Eighty-one percent of business leaders say data democratization is a key initiative over the next 12 months, according to our 2020 Data democratization report. Businesses across the U.S. are granting data access to a wider range of roles because it’s now essential to adapt to today’s environment.

It’s no secret that we have become fully digital over the last year. For businesses, there has been a learning curve to sustaining high performance while working from the comfort of our home.

Data democratization can help.

Ninety-nine percent of business leaders say they see benefits once data democratization is underway. Our 2020 Data democratization research report uncovered those key benefits and why you want to start your program today. Let’s dive in.

1. Seamless work from home experience.

Starting with the most obvious change from this year: Nine out of ten say data democratization is more important than ever with large amounts of employees working remotely. If you are working remotely then you know that it is crucial to have business information at your fingertips, regardless if you are in IT, marketing, or sales. This brings us to the next point.

2. More empowered employees.

Our research unveiled that the majority of business leaders believe almost every employee should be using data insight to improve their performance. Bringing us to the idea that enabling your employees with relevant data points equips them with the resources to improve performance, which in turn, empowers your team.

3. Improved operational efficiency.

When your team is empowered, even when working remotely, you will notice a streamlined operation. Think about it: When a wider range of roles have access to key information—say, marketers can access enriched consumer insights—they have what they need to personalize their marketing campaigns. With that consumer data, they can also have effective conversations with sales and other departments to align customer-centric practices.

4. Faster decision-making.

With access to reliable and relevant data, decision-making becomes second nature. Data acts as evidence that can predict the future with a higher possibility of success than a gut feeling. Imagine how efficient and effective your organization would be if decisions were underpinned by facts across all departments. Not only could you excel operations and deliver an exceptional customer experience, but you can do all of this digitally and in the way of shifting market.

5. Better customer experience.

Data democratization gives your business the necessary resources to deliver an exceptional and seamless customer experience, from in-store to online. When customer-facing departments like customer services and sales have access to accurate customer contact data, they can easily reach customers and prospects through preferred channels. In turn, this crafts a holistic brand experience for your customers.

Over half of businesses are already underway with data democratization—and reaping the benefits. Now is the time for you to democratize your data across your business to roles far and wide.