The increase in the usage of technology has also influenced the explosive growth of data. And there is no sign of it stopping. shows no signs of stopping.
With so much data around, techies and business owners have started recognizing the importance of data as a very valuable asset for companies. Besides, organizations have also started to invest in advanced data analytics to spot business opportunities and derive insights.
To make more and more end-users accessible to these capabilities, companies have started to employ business intelligence and self-service analytics. Self-service business intelligence tools enable business users with different backgrounds in statistical analysis. They can be from analytical rookies to tech-savvy business intelligence pros who can easily access and analyze corporate data without help from any IT team. Besides, self-service business intelligence has the capability to bring more agility and improve time-to-insight all the critical metrics in the competitive landscape of the business.
In this blog, we will learn more about self-service analytics, and how data governance is used to drive it.
What is Self-service Business Intelligence (BI) or Analytics?
Self-service business intelligence tools enable employees in your company to analyze every bit of the business data and present the information correctly from that analysis without the help of the business intelligence or IT team. When any organization offers self-service BI, it enables the employees to optimize their decision-making capabilities by offering them a single source of truth within the environment of business intelligence.
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Benefits of Self-Service Business Intelligence
Self-service business intelligence tools offer amazing benefits to all companies in the market, involving timely reports that can improve the decision-making process and eliminate the requirement for data analysts or IT team members. Besides, when the company has people who know everything about self-service BI, it can help them promote collaboration across your company and streamline data reporting.
1. Users are Enable to Answer their own Questions
When it comes to analysts, it aims to answer questions that present problems. With the self-service BI, individuals of every organization get analytical tools in their hands. It gives them accurate answers to all their questions. The results that the individuals get from these analytical tools are more efficient and enable the users to answer their own questions and better-informed, faster decisions.
Basically, with the help of Self-service business intelligence, the users get enhanced productivity because of the streamlined reports and analysis. Besides, this process also eliminates dependence on the IT teams or data analysts for getting accurate reports.
2. Efficiency Enables Businesses Gain Competitive Edge
When the employees of the business can easily access, analyze, and report the data, they become more confident and agile in their decision-making process. Self-service business intelligence is a concept that enables organizations to have better and faster decision-making which eventually enables them to deliver an edge over the competition.
3. Decisions and Insights are Backed by Data
When the business is fast-paced, it requires an agile decision-making process that is completely supported by data. Self-service analytics drives action by offering business decision-makers access to the tools and data that they require to analyze important data as per their questions. After this, they can quickly report on informed decisions and analyses that can help businesses advance in all matters.
4. Allow the IT & Analyst Teams of the Company Focus on High-level Priorities
Self-service analytics frees the analysts and IT teams of the organization from the everyday requests for routine data gathering and reporting. It enables them to concentrate on high-level priorities. This completely takes away the burden from the IT teams.
What is Data Governance in Self-Service Analytics?
Data governance is a process that involves organizing important business data, defining its access permissions, securing it from threats, and determining the way an organization can use that data. It is a very essential process for business intelligence and data analytics, and that is why experts advise making it prevalent throughout the workflow of modern analytics.
Basically, data governance is nothing but a set of data management strategies, standards, practices, and policies that enables a secure and effective way of using a company’s data. Though this process relies on controls, it helps enterprises better support their data democratization process and offer analytics to the employees who require it.
What is the Purpose of Data Governance in Self-Service Analytics?
The main purpose of data governance is to ensure that any organization’s data is available, correct, consistent, complete, trustworthy, and secure. The data governance framework assigns roles, responsibilities, and ownership for the data to establish a perfect process for data monitoring.
These processes include data standardization, enrichment, cleansing, and monitoring. The result that the users get from this is unsullied and credible data.
This result can be the foundation of any successful analytics initiative. Besides this, the self-service users can easily trust the reports generated with these results as they know that the data is reliable.
How Data Governance Transforms Self-Service Computing?
Here are some of the top ways that data governance transforms self-service computing –
1. Empowers the Citizen Data Scientists
When it comes to data and analytics, data governance indicates rule-based and controlled usage of restrictions on one hand and on the other hand, it enables businesses to bring tremendous power to their users. Basically, it shifts the focus from IT experts to common users. Through effective data governance policies, companies can offer perfectly monitored freedom in business intelligence and data analytics without compromising the quality of the data.
2. Drives Fast Adoption
When any business experiences the best results with the help of a perfect data governance framework, it will bring a “tell-all” approach into the market. All the users would talk about the quality results they received from this approach. This can drive other organizations to quickly adopt self-service platforms.
Main Governance Features for Self-Service Computing
Here are some features that most businesses prefer to have their self-service analytics platforms:
- Accurate reporting
- Customizable administrative features
- Version control
- Role and permission-based access to business data
- Easy migration of data without data locks
- Single loop authentication for data access
- Collaboration tools for discussion of the reported content
- Clear display of data lineage
As seen in this blog post, self-service analytics is gaining more and more attraction from organizations. It is a simple-to-use yet powerful framework that offers easy access to data and encourages a huge number of companies to derive insights, generate relevant reports, and capitalize on the capabilities of analytics.
But to have a successful self-service analytics platform for your company, having a perfect data governance plan is required. Data governance will allow businesses to have a clear strategy and technique that can help them achieve high-quality input data that can result in an accurate and trustworthy outcome.
Feature image Credit: Bankinfosecurity