There are a number of major trends that are starting to shape the landscape of media intelligence this year, 7 of which are mentioned in our recently published white paper, The future of news in media intelligence. Today we’re going to focus on one of them in particular, that being data democratization.
Data democratization refers to the continuous drive to make data and analytics accessible and usable for everyone within a company, rather than being the exclusive domain of scientists and engineers. Research conducted by McKinsey suggests that companies that adopt this approach are 40 times more likely to see a positive impact on revenue from their use of analytics.
One of the key drivers of data democratization in media intelligence is the growing need for various departments within organizations to have access to specialized content. News APIs, for example, have long been a way for tech-savvy users to access global news content and find relevant information. However, with the movement towards data democratization, there has been a corresponding development of easy-to-use interfaces (UIs) that allow non-technical end users, such as market and competitive intelligence analysts, to harness the power of AI and NLP to extract insights from this data.
One of the most significant benefits of this shift towards data democratization is that it eliminates the need for non-technical users to rely on the technical expertise of their colleagues to create sophisticated news monitoring queries without code. This means that non-technical end users can quickly and easily extract insights from media content without needing to know how to code or to rely on others for assistance.
Another benefit of data democratization is that it allows for a wider range of data to be analyzed, including data that would have been previously considered too difficult or time-consuming to process. With easy-to-use UIs, non-technical users can now extract insights from unstructured data such as social media posts, video transcripts and audio recordings, allowing for a more comprehensive understanding of media sentiment and trends.
Data democratization can also lead to more agile and efficient organizations, as it eliminates the need for data to be filtered and processed through a single department or individual.
Data democratization is a trend that is set to have a significant impact on media intelligence in 2023. By making data and analytics more accessible and usable for everyone within a company, data democratization can drive greater insights and revenue, as well as promoting more agile and efficient organizations. It also enables a wider range of data to be analyzed, allowing all users regardless of their role or expertise to access the information they need in order to make more informed decisions.
At AYLIEN, we’re helping organizations democratize their data through our news intelligence platform, Radar. It’s the easiest way to access the world’s news, with AI-powered search and filtering capabilities that anybody can create in seconds, and no coding required. Try it for yourself now by signing up below for a 14 day free trial.
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