18 Factors To Consider When Deciding About Data Democratization

Simply put, data democratization allows many more—even all—team members in a business to access collected data for use in building processes, making decisions, crafting metrics and more. While data democratization can certainly drive innovation and lead to employee empowerment and engagement, it is not without significant challenges and even risks that leaders must be ready for before making a final decision on how—or whether—to implement it.

Knowing both how data democratization can boost a business and how it could create risks or obstacles can help leaders make the right decision(s) for their company’s unique situation. Here, 18 members of Forbes Technology Council discuss potential benefits and cautionary considerations for companies thinking about implementing a data democratization strategy.

Beyond the benefits and cautions related to the democratization of data, it is important to build out use cases with real scenarios. When we consider generative data created by simulation or artificial intelligence, it prompts questions, including, “Do we understand the conditions and sources of new data? Are there downstream policies that need to be inherited?” Building use cases always reveals omissions and directions. – Jim Barrett, Edge Total Intelligence

To read more about this discussion, visit the Forbes website.

About Forbes Councils

Forbes Councils is a collective of invitation-only communities created in partnership with Forbes and the expert community builders who founded Young Entrepreneur Council (YEC). In Forbes Councils, exceptional business owners and leaders come together with the people and resources that can help them thrive.

For more information about Forbes Technology Council, visit their website at forbestechcouncil.com.

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