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[REPLAY] Product Talk: Using AI to enhance the data marketplace search experience
Watch the replayA data silo (also called an information silo) is a collection of data created by one department or system that is inaccessible to the wider organization. This isolation means it cannot be used by other departments or business units – who may not know that particular data even exists. Siloed data may also duplicate other datasets or only be available in formats that are incompatible with other systems.
Data silos are created for four main reasons:
Traditionally organizations follow a departmental structure, with different teams (marketing, customer service, finance) all operating in isolation, without feeling a need to work together.
Often different departments have invested in different technology systems, which may serve their own purposes but do not easily integrate with other systems across the business. Data is therefore trapped in these systems and cannot be shared.
Allied to organizational structures, many departments have developed their own cultures and ways of working, including policies and processes on how they collect, refer to and use data. Rather than working for the good of the company, teams can see other units as rivals, leading to a lack of collaboration or willingness to share data.
Expanding by merger or acquisition brings new departments or units into a business, which have their own systems. These can create new data silos, with information unable to be shared with others.
Data silos have two main negative impacts – they add to costs and prevent agility and collaboration.
While the actual financial costs of data silos will vary dependent on the organization and its structure, they fall into four categories:
As well as adding to costs, data silos also impact businesses by preventing innovation and collaboration, in five ways:
Removing data silos is essential to getting full value from information and enabling the whole organization to use data more effectively, while reducing cost and improving productivity. Overcoming data silos requires a mix of technology and cultural changes:
At a technical level, organizations should look to integrate all of their data sources and systems together, ensuring that they interoperate.
Simply integrating data does not guarantee that it will be in common formats, complete or meet corporate guidelines. Effective data governance policies and systems are required to ensure data quality and compatibility
To encourage data sharing and collaboration, companies need to break down barriers between departments. This requires cultural change and a focus on showing the benefits of collaboration across the business.
Data has to be easy for everyone to access seamlessly, without requiring expert skills or support. Implementing a self-service data portal with an intuitive interface will democratize access to all relevant data, encouraging sharing and breaking down silos.
GRDF, the main natural gas distribution network operator in France, capitalized on knowledge sharing as soon as 2014, when the company launched a portal for internal data sharing. The portal is now accessible to all staff and certain external partners. In this customer story, you will learn about: Breaking data silos: anyone holding data can now make it accessible and shareable in a centralized hub. Quality data: Putting in place a shared tool for both technical and non-technical employees, across the company, allows management to share its data sharing vision more efficiently.
Today’s enormous growth in data volumes brings a new challenge for businesses – how can they harness and use this data at scale? Organizations are therefore looking for solutions that can transform their data assets by making them available and useful, accelerating and improving performance to benefit the entire business.