What does "data democratization" refer to in BI?

Data democratization in the context of business intelligence refers to making data accessible to all employees within an organization, regardless of their technical skills or positions. This concept emphasizes the importance of empowering staff at all levels to utilize data in decision-making processes, fostering a culture of data-driven insights.

When data is democratized, employees can engage with data without facing barriers, such as restricted access or the need for deep technical expertise. This not only enhances collaboration and innovation but also leads to more informed decisions across the organization. By removing silos and enabling widespread access to data, organizations can harness the collective intelligence of their workforce, leading to improved business outcomes.

The other options are misaligned with the principles of data democratization. For instance, restricting data access to only data scientists contradicts the very essence of democratization. Standardizing data formats, while beneficial for data integrity and consistency, does not specifically address the accessibility of data. Similarly, developing complex algorithms for data analysis pertains to the technical aspects of data handling rather than the accessibility and utilization of data by all employees.