It was found that 74% of business users still use Excel to exchange and manage data, while 69% of users rely on email attachments to exchange and manage data. Furthermore, only 10% of business users reported using a data catalog for these purposes. These formats of data access and exchange present many data quality issues for businesses.
The Importance of Data Lineage and the Use of Software Solutions
Data lineage is the process of tracking the origins and changes made to data throughout its lifecycle within an organization. In the context of democratizing data, it’s an essential process that allows organizations to trace the journey of data from its source to the final use, providing transparency and trust in the data usage. Knowing the lineage of data allows organizations to understand where data came from, who has accessed it, and what changes have been made to it, which is key to ensuring data accuracy and integrity, and making informed decisions based on the data. Having a clear understanding of the data lineage is important for organizations that rely on data-driven decision-making and need to comply with regulations like GDPR or HIPAA.
To implement data lineage, organizations can use specialized software that automates the process of tracking and documenting data. These software solutions typically have the capability to collect, store, and analyze data lineage information in a centralized repository. They also have the ability to map data flows and dependencies, as well as provide a comprehensive audit trail that enables organizations to trace data back to its origin.
These software solutions may also include data lineage visualization capabilities, which allow organizations to view data lineage information in a graphical format, making it easier to understand and navigate. Additionally, many solutions also include data governance and compliance capabilities, which allow organizations to automatically enforce policies and ensure that they are adhering to regulatory requirements.
Data Democratization: Unlocking the Full Potential of Data for Business Success
Data democratization is the process of making data easily accessible to all members of an organization, regardless of their role or level of technical expertise. This enables all members of the organization to access and analyze the same data, promoting better and more efficient decision-making.
Data democratization is essential for companies because it allows them to make better use of the data they collect and generate. By breaking down data silos and allowing all members of the organization to access and analyze data, companies can improve communication, collaboration, and decision-making across different departments and teams. This can lead to increased innovation and efficiency, resulting in improved business performance.
Furthermore, democratizing data allows for more effective and efficient compliance with data governance and regulatory requirements. When data is not easily accessible, it’s challenging for organizations to ensure data accuracy, integrity, and compliance. By providing access to all members of the organization and by implementing data lineage, companies can easily track and audit data, which is especially important when dealing with sensitive or regulated data.