What is data democratization and why does it matter?

Data democratization is an evolving process aimed at empowering everyone within a company to make data-informed decisions, extending beyond merely providing access to data. It requires the right skills, tools, and a company culture that encourages daily data engagement. While democratization offers benefits such as team empowerment, waste reduction, improved discovery, and outcome orientation, it also poses challenges related to data security, privacy, and interpretation. To successfully implement data democratization, organizations must focus on tools, training, culture, and continuous improvement. It doesn't replace data analysts but instead redefines their role to focus on strategic tasks and coaching. The process requires careful consideration of objectives and potential risks, emphasizing a gradual approach for effective integration.