The article also suggests the use of privacy enhancing technologies (PETs) to address privacy and security concerns, the establishment of data stewardship teams, hiring or training team members to analyze data, adopting a data mesh approach, and starting with digital transformation. Other strategies include leveraging cloud-based data platforms, setting up a shared data lake, hiring a chief data officer and chief AI officer, democratizing data, implementing a semantic data layer, and leveraging federated learning.
Key takeaways:
- Breaking down data silos in businesses is crucial for making informed decisions and avoiding significant missteps. This can be achieved through various strategies such as treating all data as an enterprise asset, increasing the value of data sharing, and investing in a centralized data platform.
- Adopting uniform naming conventions and data governance best practices can ensure data consistency and clarity, thus transforming data into actionable insights.
- Creating a culture of open data sharing across departments and addressing privacy and security concerns can also help in dismantling data silos.
- Other strategies include establishing data stewardship teams, hiring or training team members to analyze data, adopting a data mesh approach, and leveraging cloud-based data platforms.