Is your business data hard to get to, like it's locked away and only a few people have the key? That can really hold your business back. Imagine if everyone on your team could easily use all the data you create and collect to make better decisions, faster. That's what data democratization is all about, and it’s a powerful tool. In today’s blog we briefly discuss how it works.
Think about it. Historically, information is power that is unfortunately often hoarded by a select few. Did you know that the ancient Library of Alexandria—one of the largest and most significant libraries of the ancient world—aimed to collect all the world's knowledge? While an admirable goal, access was still limited. Today, technology allows us to provide more knowledge to more people, faster than ever.
Simply put, data democratization means making data accessible to the average non-technical user within an organization, without requiring them to go through a would-be gatekeeper (like the IT department or a data analyst). It's about empowering your team with the right tools and understanding to use data effectively in their daily roles.
This doesn't mean a free-for-all with sensitive information, as that would be horribly short sighted. Instead it uses strong governance and security while also providing relevant data in an understandable format.
Imagine your sales team being able to instantly see which products are trending locally, or your marketing folks understanding customer behavior in real-time to build successful campaigns. Picture your operations manager identifying bottlenecks before they become major issues, all because the data they need is at their fingertips. That’s the power we're talking about.
For small and medium-sized businesses, the agility that comes with data democratization is invaluable, but how do you set it up? Unlike large corporations with dedicated analyst teams, SMBs need every employee to contribute to their full potential. This is how it works:
Navigating the path to data democratization can seem overwhelming, given all the parts that need to align for it to work properly. Fortunately, that’s where Preferred comes in. We provide proactive business technology support and can work to set up a comprehensive BI platform that can really help your business. From setting up the right infrastructure and selecting user-friendly tools to ensuring your data is secure and your team is trained, we're here to help you unlock the immense potential you can gain when you use your data correctly.
Are you looking to put your data to work for you? Give Preferred a call at 708-781-7110 to have a conversation about ways we can help your business thrive.
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Daily Herald Suburban Business 2024 Best Places to Work Honorees The Daily Herald Suburban Business has announced the names of 51 companies, in 5 categories of competition, that are honored as the 2024 Best Places to Work in Illinois. This statewide survey and awards program was designed to identify, recognize and honor the best places of employment in Illinois, benefiting the state's economy, its workforce and businesses.
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