Without data democratisation, making business decisions across departments may effectively be an exercise in assumption, guesswork, and hope. However, with data democratisation, businesses can draw meaningful conclusions and make educated choices by having all data accessible and available in a digital format to all that need it.
In the context of marketing, campaign and digital heads should depend on properly-managed and digitised or ‘democratised’ data for tactical decision-making in campaign set-ups, execution, and for benchmarking performance.
The lack of crucial, accurate demographic data, from ideal target audiences and common buyer journeys to conversion rates, could make or break a marketing campaign’s success. When big data is stuck in cold storage, in divided departments, its potential is not only untapped, but by keeping it inaccessible, businesses may be actively sabotaging their own efforts to deliver results.