Data democratization using the cloud data stack

Most companies claim to be data-driven companies. However, in reality, analytics projects and the use of new technologies still remain unresolved. Segregated records and data that cannot be acted upon negatively affects customer relationships and the interests of the company.
ⓒ Getty Images Bank

The culprit is that outdated technologies or outdated methods often prevent data analysts from accessing the data they need. There are too many processes that cannot acquire new knowledge or identify weaknesses. A common source of failure in information analysis lies with the staff of each domain. Many teams do not recognize or know how to use this knowledge as their responsibility in their respective areas of responsibility.

Successful customer-centric brands prove every day why they must overcome this mindset. If everyone in the company can query, interpret, and use data as a decision aid, they will actively seek knowledge, and the company will automatically move toward innovation and customer focus.
To do this, you must first collect all relevant data, process it for analysis and make it available to all teams and departments in your company.

Currently, the best way to do this is to use the so-called Modern Data Stack, which combines three technologies:

  • Automated data pipeline
  • Cloud-based warehouse
  • Modern business intelligence tools

The combination of these three technologies not only removes the biggest hurdle to data processing (consolidating all relevant data from numerous fragmented sources, time-consuming and laborious), but also eliminates the enterprise-wide dashboard viewable and usable by all employees. Data can be visualized with a board.

Once companies overcome this hurdle, the remaining question is how and for what purpose this data will be used. The next step is to unlock the full potential of your employees and demonstrate the benefits of data. The three essential steps are:

1. Data for Response

Almost all business decisions are data-related, but surprisingly, many employees believe that “my job has nothing to do with data.” When employees don’t have a clear sense of responsibility for their data, it’s hard to know whether they’ve missed an opportunity, where a problem has arisen, and how they can drive future success.

The first thing managers need to do is show them that data can help them do their jobs more efficiently. First, you need to ask each department what the most difficult part and what the ideal outcome would be. This is the easiest way to show that the data contains the answers to both questions in the next step. Soon, employees will not only see answers to their existing data-related questions, but will start asking new ones.

2. Data as a product

People unfamiliar with data often treat data as an abstract concept, but data is actually a product. As with any product, you need to buy it, maintain it, use it, and achieve a high return on investment (ROI). Showing that data can provide answers to a company’s strategic questions at an early stage opens new use cases. In this way, the use of data can be extended in the same way as a regular product. A good indicator of ROI is the daily dashboard access of active users and the reports they generate.

The more people you work with data, the more questions your company can answer and solve. However, this requires a high level of independence. Therefore, the underlying technology should enable data analysis, visualization, and interpretation as intuitively as possible. If up-to-date and relevant data can be easily accessed and presented, employees will be able to independently use the data more actively in their work.

3. Data as a Language

Data interpretation capabilities are key to creating a common language that fosters unconventional thinking and drives innovation. The saying that practice is the only way to perfection applies here as well. The more opportunities employees have to deal with the data and use it for strategic purposes, the better. When employees are empowered to manage their day-to-day operations based on data, data becomes an essential tool, ideal for marketers and customer service representatives or financial advisors.

Meetings devoted to problem-solving turn into brainstorming sessions about the future, and data-driven decision-making becomes a natural course of action for every employee in the company. [email protected]


Source: ITWorld Korea by www.itworld.co.kr.

*The article has been translated based on the content of ITWorld Korea by www.itworld.co.kr. If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!

*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.

*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!