DATA-DRIVEN TRANSFORMATION JOURNEY THROUGH DATA DEMOCRACY: A CASE STUDY OF A SWEDISH BANK

Abstract

Nowadays, data has emerged as a resource of prime importance, and an insightful use of it in a data-centric workforce can provide continuous competitive advantage. In their journey of becoming data-driven, many organizations invest in underlying resources and adjust business models accordingly. In the academic literature, the importance of becoming data-driven and utilizing the data analytics tools in achieving the transformation vision has been widely discussed and explored. Nevertheless, when it comes to data democracy and opening the data within organizations, there is still a noticeable gap. The significance of this paper relies on the relevance of empowering organizations toward creating the right instruction on how to achieve data democracy in their data-driven transformation path. By focusing on a case study, this work reveals, among others, the correlation between the benefits from empowering different players of the organization with the needed data knowledge, and the acceleration of the digital transformation journey.