Democratization of Data vs. Democratization of Technology – Why Does It Matter To You?

The perspective from which businesses implement technology is an ever-changing process. In a blog just earlier this year, The Role of IT in 2022: Embrace Democratization of Technology, we went over this evolution, and what it actually means for the “boots on the ground” in your IT department. Today, we take a closer look at the democratization of data and technology, and break down these two separate(albeit connected) phases.

Data democratization and customizability for your users

Data democratization is not a new concept, but let’s touch on some of the finer points as to how it plays a part in the grand scheme of things. Data democratization is how we ensure that all employees have access to the resources needed to perform their duties…all without direct input or assistance from IT. With data democratization, an employee’s final product is simply a narrative created by the data collected through the process. IT’s part to play is this:

• Ensuring that they have access to the data they need, all without giving access to restricted or unrelated information
• Making data easily and quickly accessible from the cloud
• Ensuring that all sources and source material are working integrally

This phase is already underway; IT departments already connect users to the data they seek, but by implementing more controls in their processes, actually accelerated these steps. Through the COVID-19 pandemic, when the number of remote workers reached an all-time high, workers needed self-service options to adapt to the new norm.

This was a sensible phase. A large portion of workers already know what to do with the data once collected. They simply needed to be empowered by IT to take advantage. If this idea took, IT could be removed from the process altogether. A good thing too…IT departments are generally overwhelmed and overburdened by tasks, but now have ample time to asses and address them.

Technology democratization: Enabling users to develop the tools they need to succeed

Data democratization was a quantum leap in how businesses can collect and utilize data, but the next phase, democratization of the technology that allows users to develop these tools, is already gaining momentum. Today’s workplace requires the resources to develop systems and platforms in-house, all with the intention of making the consumer experience better, and their own jobs easier.

Perfectly logical, right? If a user is aware of their goal, why shouldn’t they have a say in their SOP? Regardless of whether you work in a team setting or as an individual, all associated parties should have access to the technology they need to perform at their fullest potential.

Why the distinction between data and tech democratization matters

The understanding of these two phases for IT leaders is a must because they’re the ones dictating the democratization. It’s important to fully comprehend the pros and cons of the methods surrounding the democratization process. Some of the data in your systems is sensitive, and relinquishing control to others can be worrisome; however, allowing them into the fold can be beneficial to them your IT department. After all, combining forces to brainstorm is a great way to improve processes.

Read how technology democratization revolutionized this global private equity firm

With $70B+ in assets this financial services firm has already made a name for themselves, but they didn’t realize there was an easier way they could be operating. HSO implemented the Microsoft Power Platform, a collection of tools meant to streamline and consolidate all facets of your business operations.

These changes democratized data by allowing the investor relations team to attain a comprehensive grasp on their data, but while doing so launched the company into full democratization of technology. After realizing the benefits provided by Power Platform the firm is now approaching all technical challenges in this way. Read the entire story of this transformation.

Want to know more? Contact us to find out how the HSO financial services team can support you as you guide your firm through the democratization process.

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