The Importance of Data Democratization

The biggest mistake I see: treating "data" as just the data team's job. After working with 100+ brands, this siloed approach to data is way too common. Here's the typical setup: - A couple of lonely analysts buried in dashboards/spreadsheets - Marketing teams waiting weeks for data pulls and "analysis" - Execs frustrated w/ slow (or no) decision-making The alternative? "Data democratization" (sorry for that buzzword) Every team member should have practical data skills. Data capability shouldn't be locked behind a specialized "data" team. Rather, it should be accessible to your entire org. Here's how to democratize data in your organization: 1. Create simple, visual dashboards for each team. Focus only on critical metrics. 2. Invest in basic data training for everyone (not just analysts). Excel/Sheets, GA4, Looker Studio, Statistics 101. 3. Break down jargon. Ban acronyms and technical terms. 4. Assign clear metric ownership to teams (not just individuals) 5. Start meetings with data discussions, not just reports (aka look at the reports before the meeting) 6. Set up self-service tools/data access so teams can answer their own questions 7. Catalog the data. Where it lives, what's included, how to access, who "owns" it. Bonus points if you can load it in the same place (data warehouse, reporting tool, etc) --- Ps, you'll prob hear these objections... - "Our team isn't technical enough" → Start with visualization tools and focus on question-asking skills, not technical skills - "We can't trust everyone with data" → Create guardrails and governance (not walls and gates) "We need specialized expertise" → Sure, but the data team should be enablers and coaches, not gatekeepers The most successful organizations I've worked with have data teams that focus on upskilling and enabling others rather than hoarding knowledge. Is this easy? No. It takes top-down focus and real change management. Is it worth it? Absolutely. If you've made it this far, I'm curious: 1. What activities have you seen make the biggest change toward data democratization (please someone suggest a better word 😅 ) 2. Any rec's on paid/free data courses? ...and if you're struggling to build a data-driven culture but aren't sure where to start, happy to talk. #dataanalytics #marketinganalytics #dataculture #measure

It's hard to be a data driven leader when we are reliant on humans to keep the data accurate and current. Most leaders agree that they don't trust their data. They will state things like . . . 🚩 They are unsure of the data source 🚩 They have access to partial data sets 🚩 They are reliant on subjective data with minimal standardization 🚩 They will reference the data is out of date and no longer relevant 🚩 They don't know who is responsible for maintaining the integrity of the data I speak with senior executives often who claim that their CRM is their source of truth but yet they will still make the claims above. If we are going to be able to make business decisions with relevant, accurate, current and cohesive data, then we need to advocate for data democratization. Here are just a few things you should be asking yourself and your teams: ✅ What is the time span on data relevancy? ✅ Do all stakeholders have access to use this data? ✅ Do we have data governance in place to validate the data? ✅ Are there ways to automate data updates to avoid manual inputs? ✅ Are you able to use all of this data in a unified manner to ask strategic questions? ✅ Do you have access to all of the data currently being collected on your customers? My big focus right now has been on data. Not more tech. Not new process. Not different people. We need to know what the data is telling us and lean into it. While there is always room for qualitative AND quantitative data, all of this still remains true. Without rich insights, we cannot be effective. Start here. This is your foundation. You can't build a house on sand.

Data is the lifeblood of any successful organization. But it's not just about collecting data. It's about turning it into actionable insights. As CFOs, we have a unique opportunity to champion a data-driven culture across the entire organization. Here's how I approach it: 1. Develop meaningful KPIs: We work with each department to identify key performance indicators (KPIs) that truly measure their success and align with overall business objectives. → It's about finding the metrics that matter, not just tracking numbers for the sake of it. 2. Empower with data analytics: We implement user-friendly data analytics tools that allow teams to access, analyze, and interpret data relevant to their roles. → It's about democratizing data and empowering everyone to make informed decisions. 3. Create insightful dashboards: We develop clear and concise dashboards that provide executives with a comprehensive view of business performance. → It's about telling a story with data, highlighting key trends, and enabling strategic decision-making. When everyone understands the impact of their work, the organization thrives. And understanding impact starts with the numbers.

How do you know (and measure) if your data democratization efforts are paying off? ⬇️ 1️⃣ Data Accessibility KPI Percentage of employees with access to key data sources. Metric Track the number of employees with access to data tools and platforms compared to the total number of employees. Impact Ensures data is readily available to those who need it, fostering a data-driven culture. 2️⃣ Data Utilization KPI Frequency of data tool usage. Metric Monitor the usage logs of data analytics tools to see how often employees are accessing and using data. Impact High usage indicates that employees are leveraging data for their work, enhancing decision-making. 3️⃣ Data Literacy KPI Percentage of employees trained in data literacy. Metric Track the number of employees who have completed data literacy training programs. Impact A well-trained workforce is better equipped to interpret and use data effectively. 4️⃣ Decision-Making Efficiency KPI Time taken to make key business decisions. Metric Measure the average time required to make significant business decisions before and after implementing data democratization. Impact Faster decision-making indicates that data accessibility is streamlining the decision process. 6️⃣ Innovation Rate KPI Number of new initiatives or projects driven by data insights. Metric Track the number of new projects or innovations that are initiated based on data-driven insights. Impact Increased innovation suggests that data democratization is fostering creativity and new ideas. 6️⃣ Business Performance KPI Key business metrics such as revenue growth, customer satisfaction, and operational efficiency. Metric Compare business performance metrics before and after data democratization efforts. Impact Improved business performance highlights the tangible benefits of making data accessible. 💡By monitoring these KPIs and metrics, you can effectively measure the impact of data democratization and ensure that your efforts are driving meaningful results. #DataScience #BusinessIntelligence #DataDemocratization #DataGovernance #DataAnalytics