Data democratization is so much more than “granting access to or sharing survey data.” It is a process of empowering team members to access, work with, and understand customer survey data and as a result, make data-informed decisions that drive innovation.
In a 2019 research study* conducted by NewVantage Partners, executives from brands such as, American Express, Ford, General Electric, and Johnson & Johnson all admitted that they were falling behind in their organization’s data democratization efforts. In fact, 72% of those surveyed said they didn’t feel they had created a data culture yet and 53% responded that they weren’t treating data as a business asset. These responses showcase that many organizations recognize the importance of data democratization; however, they sometimes struggle with how to implement a data-driven culture across their organization.
At KnowledgeHound, when we speak with brands about our search-driven analytics experience, we always ask them about the Data Democratization challenges they face at their organization. Their responses include:
- “Teams outside of research and insights don’t have access to the data they need.”
- “We spend too much time answering ad hoc questions from our stakeholders.”
- “We don't trust other departments with our data.”
- “We really don't know what data exists.”
- “We are decentralized, so we don't need to share.”
- “We don't have access to their data, they don't have access to our data.”
When data is siloed in the research and insights function, key decision makers often make consumer-focused decisions based on gut instead of data. They do not have time to wait, they don't know what data already exists, or they do not understand the data analysis they are receiving. Oftentimes the insights team might not have a way to share the data in a format that business leaders across the organization can easily understand.
Bernard Marr, bestselling author of “Big Data in Practice'' said, ”When you allow data access to any tier of your company, it empowers individuals at all levels of ownership and responsibility to use the data in their decision making.”. If the current situation encourages team members to go around data in order to get things done on time, data democratization creates team members that are more data-driven.”
At KnowledgeHound, we also believe it is essential that organizations provide the right tools to enable everyone, across all business functions, to not only work with and understand their company’s consumer data - but to also make data democratization a part of their company culture. And here’s why:
- Data democratization empowers individuals at different levels and in different departments to leverage consumer data in planning and decision-making.
- Approachable access to data creates opportunities to gain new insights by allowing people with different expertise and skill sets to access the data.
- Friendly analysis inspires employees to innovate based on customer survey data.
Let’s take a look at how different departments might use customer survey data:
- Marketing departments use consumer survey data to create engaging, better-converting content and more effective ads or to inform the strategic direction of the business based on customer needs.
- Product teams use data to innovate on new and existing products, change features or introduce an entirely new line that satisfies various consumer needs.
- Customer success teams work with data to deliver a better client experience.
Every product and customer-focused decision should originate from consumer data that the insights team has uncovered. The insights team simply needs an easier, faster and more approachable way to share it. That’s where we come in. At KnowledgeHound, we believe your insights are meant to be shared, how and when you want to share them.
Our powerful, consumer-grade search brings previously unapproachable data to life for everyone that can benefit from your survey research, eliminating bottlenecks and bypassing silos in your organization.
We also know that data democratization can cause concern that employees outside of the insights function might misinterpret data and make bad decisions. That’s why we’ve put access controls in place to give you confidence knowing the right data is in the right hands. This means you can set the access guardrails so colleagues can use your newly-uncovered insights to inspire your brand’s next big innovation or market strategy.
Complete, accessible data should always inform decision-making, and we make it easy for you to share your analysis with the right people in your organization at the right time.
Deploying a data democratization process opens up a world of possibilities to teams who may not previously had instant access to relevant consumer insights, while ensuring sensitive insights are not freely circulating around your organization. These insights bring you closer than ever to your next big innovation and competitive advantage.
To learn more about how KnowledgeHound allows you to easily and safely democratize your survey data analysis, visit: https://www.knowledgehound.com/product.
*Statistics from the Big Data and AI Executive Survey.