How the power of data is decentralising decision making
The radical transformation enterprises have been subjected to in recent years is entering a new stage as Steven Schneider, CEO of computer software company Logi Analytics, explains to João Marques Lima.
The world is data and reliance on it is only set to deepen with the big data and business analytics space set to top $203bn in revenues by 2020, up from 2017’s $145.32bn, according to IDC.
In the enterprise layer, organisations have realised the importance of this new asset to their business and experienced some of its benefits such as increased risk awareness, real time decision power and cost savings.
Yet, data is kept in some scenarios under tight protection, even from those within a given company to whom a certain data set could improve their performance, warned CEO Schneider.
The need to convert that data protectionism into a valuable and correct use of data within an organisation is what is now speeding adoption of data analytics tools in the enterprise sector. This is the democratisation of data.
“Expectations of end users of applications has changed over time to where they now require more analytics as part of the applications that they use. And now the basis of competition is end-user self-services. “Consumers are demanding more and more analytics as part of the applications that they use every day.”
Making data available
Schneider explained that more people within an organisation need access to data and information to do their job effectively and over time that data will start moving from the top 5% of people in an organisation that work with organisational data decision making, all the way down throughout the organisation where everyone is getting access to it, decentralising decision making.
“The best way to deliver information all the way through the organisation is as part of the applications that people use every day because it is in the context of where they work and it can help to drive user adoption.”
Although, while some C-level professionals might be unsure about democratising data in the company, for CIOs this is not a struggle at all, Schneider said.
“I think it is a business-driven initiative and that most business units take it on their own to deliver it and where CIOs struggle is how to control that and how to apply risk and governance control to that. Frankly in many cases after it has already happened.”
This article originally appeared in the Data Economy magazine. To read more on data centres, cloud and data, visit here.