As we have explored in previous articles (here and here), data is a vital asset in today’s digital world – changing the way we live, work, and interact with each other.

It is essential in order for businesses and organisations to make informed decisions – where they may have previously relied on gut instinct alone. However, for a long time, data was only accessible to a privileged few with the resources and technical know-how to collect, process, and analyse it.

Dr. Hal Varian, Chief Economist at Google:

“The ability to take data—to be able to understand it, to process it, to extract value from it, to visualise it, to communicate it—that’s going to be a hugely important skill in the next decades.”

Who has the right to access this data in an organisation?

The democratisation of data is the process of making data more accessible to a wider range of people within an organisation or business. It’s about breaking down any barriers that exist in preventing people from accessing, analysing and using data to its ultimate potential – including accessibility, data literacy, real time data insights for up to date decision making, and user friendly tools.

Carly Fiorina, former CEO of Hewlett-Packard:

“The goal is to turn data into information, and information into insight.”

So why is it important that ALL people have access to data? Because those that hold the data and can interpret it are the ones that can use it to make innovative decisions.

Just some of the benefits from data democratisation are:

Better Decision-Making: Employees at all levels can use data-driven insights to make informed decisions.

Faster Innovation: When more people have access to data, innovation and problem-solving increase.

Increased Efficiency: Reduces bottlenecks where only a few individuals control data access.

Greater Transparency: Encourages accountability and informed discussions within organisations and society.

Data democratisation simply makes sense because with all minds working on the future of your company through the interpretation of data equals greater potential for bold and creative pathways forward.

Want to know how Square Holes can help you transform your business through data? Head here.