The need for data democratization
Data democratization refers to the process of making data available to all relevant stakeholders to consume as is or add further value. This is critical for all businesses as it forces agile, data-driven decision making and helps them to remain competitive using actual metrics and data-centric strategies, as well as providing monetization and innovation opportunities. Let's take a look at a few concrete examples:
- Healthcare and manufacturing: A new category of medical imaging device has been introduced into the market. A lot of vendors and hospitals buy these devices. The images, their quality, and their predictive power in aiding doctors to detect the onset of tumors and cancers based on certain positions and circumstances generate data points that need to be analyzed to see what positions and settings lead to the best diagnosis. The more data, the better the analysis and the quicker the feedback loop to provide to the manufacturer to...
