Data and Content Democratization
Toward driving your business: what you should know in today’s tech trends.
In the data-driven, modern economy, democratization is more than a buzzword. In fact, the democratization of both data and content is hugely important for businesses, allowing for scaling, agility, and innovation on an unprecedented scale.
Across the digital world, 2.5 quintillion bytes of data are created every day. These vast reserves of information equate to a goldmine of business insights. However, tapping into them requires context, know-how, and the big tech essential to data-driven success.
Elevate your business through an understanding of open information and knowledge tools. Data and content democratization are your first steps to a larger world of operational improvements.
Data democratization is, simply put, the process of opening up data access for use across an organization.
Here’s what you should know:
What Is Data Democratization?
Data democratization is, simply put, the process of opening up data access for use across an organization. Why? Data is information, and information can assist every aspect of business operations.
With data democratization, it’s possible to tailor analyses to meet all of an organization’s needs. From marketing to human resources, data represents various insights and actionable strategies. Democratization helps ensure this potential is integrated into a company’s culture, resulting in a maximization of data usefulness.
Colorado companies like Ibotta are finding out the benefits of data democratization as they build such an integrated culture. For them and others like them, the process starts with employee education. Training in user-focused data platforms enables entire teams to operate from the same page via opened-up data silos and business intelligence platforms.
You too, can apply data democratization to your internal business processes. With employee education and the proper tools, the benefits of a data-driven culture are yours for the taking.
How to Apply It
Data is made accessible through the use of certain processes, platforms, and business practices. Via their utilization, you can build an information infrastructure capable of supporting your organization.
The first of these is the breakdown of data silos into a broader pool of data. This requires comprehensive data governance policies and the means to analyze them. That’s where data and metrics catalogs come in.
To start democratizing your data, break your silos wide open. Not too open, of course. You have to protect access to any sensitive information and encrypt any identifying data that could harm your customers, employees, or business should it be compromised. However, you need your data in a single, collected pool ready for analysis.
Such a broad data pool is sometimes referred to as a “data lake.” Here, you can host all your gathered information in both structured and unstructured forms, ready to be accessed at any time, depending on the needs of your team.
There are a wide variety of tools you can use to assemble data lakes. You can employ cloud-data management and hosting services or build a secure lake in-house. Regardless, security and accessibility should be points of focus for your approach.
Data and Metrics Catalogs
After you have your data lake, you’ll need tools for finding and analyzing data.
Your data catalog will be a go-to source for this as a collection of metadata. Search and management features will allow you to draw up the information you’re looking for as you further structure information for downstream analysis.
A metrics catalog, then, is a more carefully crafted store of the specific Key Performance Indicators (KPIs) you want to track. This can be layered over your other data tools to provide unprecedented transparency of business performance. With a metrics catalog, KPIs became accessible and analyzable to every department in an organization, creating ultimate data democratization.
With platforms like TikTok and YouTube taking off as highly competitive digital mediums, advertisers are pivoting to these tools.
What Is Content Democratization?
With the opening up of data and software to anyone with the dedication to use them, we’ve seen amazing strides in content creation. In fact, the creator economy is estimated to be around $100 billion in value, boosted by the digital activity of the COVID-19 pandemic era.
Now, content democratization is transforming business altogether. With platforms like TikTok and YouTube taking off as highly competitive digital mediums, advertisers are pivoting to these tools. Open to everyone, these platforms offer the potential to reach out and network directly with influencers and customers.
Another Colorado company, Brandzooka, has made content democratization its business model. By helping marketers target audiences with video marketing in an accessible fashion, they give small businesses a leg-up in the digital economy. Your business can build accessible marketing by leveraging alike tools and platforms.
How to Apply Democratization?
So how do you tap into content democratization? It all starts with the tools that are available to you right now. The digital economy is rich with options for developing videos, images, and other graphics to be shared on the web and in traditional media.
Content Creation Tools
Let’s begin with content creation. Smartphones are a powerful solution in this regard, especially because most adults own one. These connected, intelligent devices typically come equipped with cameras and microphones capable of recording increasingly high-quality video and photos.
From here, there are endless applications to choose from and third-party advertising platforms (like Brandzooka) to help. Choose your content creation tools, then optimize for success on social media.
Social Media Optimization
Social media is the ultimate medium for content democratization. On it, you are only limited by the size of the audience you can attract. Doing so requires taking the proper steps, however, such as managing posts with consistent and repeatable designs.
Then, ensure the information you are presenting is accurate. We live in an age of information and misinformation, and spreading falsehoods will ultimately come around to hurt your business. Spot misinformation in your own content by double-checking sources, fact-checking information, and exploring the validity of your data.
Transforming Your Business with Democratization
With data and content democratization, your company is better positioned to grow and thrive. Build up your business with an approach to information and outreach that is both accessible and highly adaptive. Other Colorado businesses are doing this to great success. Start now, to experience the benefits of democratization for your company.
Noah Rue is a journalist and content writer, fascinated with the intersection between global health, personal wellness, and modern technology. When he isn’t searching out his next great writing opportunity, Noah likes to shut off his devices and head to the mountains to disconnect.