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Are Data Silos Undermining Digital Transformation?

Data-Informed Decisions are Needed for Digital Transformation

The needed understanding of data-informed decisions is because high-quality data is at the heart of all digitalization initiatives, from delivering invaluable insights to and uncovering latent operational efficiency strategies. And that’s the reason organizations’ must get careful about the creation of data silos.

Today  73.5% of most leading companies are data-driven in their decision-making. In almost every organization, data is collected from diverse sources to analyze and make business-critical decisions. And while these sources may number in the thousands and millions, having data silos building up across an organization is a natural outcome.

Despite modern-day databases and repositories being more robust, it is hard for them to completely ward off data silos, preventing them from realizing the true potential of their digital transformation initiatives.

The Data Silos Problems and Other Blocks to Digital Transformation

As a matter of fact, 89% of IT leaders today view data silos as one of the leading obstacles to digital transformation. The formation of silos are often a result of a combination of factors, including mergers and acquisitions, disconnected teams, interdepartmental dynamics, lack of data control, etc.

To prevent the formation of data pockets across organizations, enterprises must cultivate a data-sharing culture rather than a data-owning one. Eliminating silos begins with a cultural shift, necessitating a change in perspective that starts at the top in an organizational hierarchy. Enterprises can adopt several strategies to eliminate such data silos and prevent them from perpetuating.

Following Is a List of Ways to Keep Data Silos at Bay

Foster an Environment of Data Sharing

Various teams in a company hold data close to their chest, as data is knowledge, and knowledge is power. Various verticals typically work with exclusive jargon and processes pertaining to their own departmental goals. Each team sees itself as somewhat remote and distinct from the others, and segregated workspaces compound this spirit of disharmony.

All this leads to a sense of ownership and reluctance to share data with other teams among individual groups, which may harm the organization’s larger interests. Instead, organizations can nurture a culture of sharing and enabling a free flow of information. In doing so, they must also address the concerns of each group about data sharing and guarantee a mechanism to maintain data integrity.

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