Data used to be seen as a source of power. Now there is such a surplus of data that companies unable to fully contextualize the onslaught of information are falling by the wayside. As value is placed less on the data itself and more on the analysis gleaned from the data, data democratization has become essential in today’s business world. 

In order for a company to truly internalize this new view of data democratization, the change needs to start with and be embodied by the chief executive officer, according to Prakash Nanduri (pictured), co-founder and CEO of Paxata Inc.

“It is really important from day one to start a culture where you’re not going to have a small group of exclusive data scientists,” Nanduri said. “You can have those people, but you need to have a broader democratization focus. So what I have seen is many of the siloed, small, tight, mini science projects end up failing.”

And the reason they fail is usually either because their business outcomes were not defined clearly from the start or because their efforts were not scalable.

Nanduri spoke with Jeff Frick (@JeffFrick), host of theCUBE, SiliconANGLE Media’s mobile livestreaming studio, during the Corinium Chief Analytics Officer event in San Francisco. They discussed cultural shifts regarding data, data governance, and data democratization. (* Disclosure below.)

Disrupt yourself to save your job

Clinging to the past is never a wise move in the technology industry, where tides of innovation are rapidly changing the workflow and the priorities of a company. “What you thought 10 years ago was your job security, that is exactly what’s going to likely lose your job today,” Nanduri said.

Instead of guarding the data voraciously and making employees wait for weekly reports to trickle down the chain, companies would do well to start sharing the data with their openly, Nanduri explained. This would allow them to be the heroes of their own work and feel like they can contribute in meaningful ways. It will also attract and keep top talent.

“If you do not disrupt yourself, somebody else will,” Nanduri concluded.

Watch the complete video interview below, and be sure to check out more of SiliconANGLE’s and theCUBE’s coverage of the Corinium Chief Analytics Officer event. (* Disclosure: Paxata Inc. sponsored this segment of theCUBE. Neither Paxata nor other sponsors have editorial control over content on theCUBE or SiliconANGLE.)

Photo: SiliconANGLE