Data: The Industry’s Virtual Fossil Fuel
In modern times data has become a precious commodity. The institutions that possess the most data can make better decisions, revamp performance, and ultimately prosper. While before, it was only accessible to those with an IT background, the days of constricting this valuable resource to data silos (i.e., data warehouses, data lakes, etc.) are fortunately coming to an end.
Macro and Micro Levels of Data Use
When data is only accessible to those with IT backgrounds, it can be detrimental on a macro and a micro-level. On the macro level, one should understand that the technology and the data that makes it useful is the way of the future. No matter what career field you are in, data is integral to driving high performance and access to opportunities. Essential performance indicators guide even middle and lower management decisions. This separation creates a digital class divide. The technologically proficient wield data to their benefit, whereas those lacking proficiency drive blindly.
On a micro level, business decisions can suffer from every angle if left in the dark. Data is now available to everyone in an organization. Valuable data that could have been collaborated on by multiple departments or individuals to achieve keen, business improving insights are lost to the virtual waste bin. Additionally, cohesion within the company suffers from a lack of everyone being on the same page.
Forbes describes data democratization as this:
How Does Data Democracy Affect You?
Democratizing data ensures anyone in the industry can use and understand the available resources. More specifically, people now have the unique option to create opportunities for themselves. This resolution allows everyone to share in the riches of the information age, and not just those with a higher level understanding of IT.
The rise of data democratization allows for company-wide collaboration, achieving:
- Better decisions
- Diverse actionable inputs
- Overall enhanced execution on campaigns and projects
For example, Google is already practicing similar methods by allowing all employees to access its codebase, also enabling their most innovative minds to collaborate and birth ideas that otherwise never see the light of day. Furthermore, through data democratization, a well-informed company can dominate the competition through informed decision making.
Are you taking advantage of data democracy, and what tools are you currently using? Qutee is the first platform that fully embraces data democratization in a revolutionary way. Qutee not only empowers audiences by providing them the opportunities to easily access data, but it also provides a way to truly understand trends without professional training or IT experience. This is the beauty of data democratization, and how Qutee is helping it to thrive.
Find out more about how you can join the revolution by scheduling a free demo with Qutee experts today!
