Organizations are continuously looking for methods to differentiate themselves from rivals and preserve market relevance by investing in data as an asset. Businesses must detect valuable signals from the ever-increasing amounts of data collected to make timely choices. Employees must be data literate and skilled to identify insights, trends, and patterns that are important to solving business challenges. However, data literacy as a mindset change cannot be an afterthought; it must be prioritized by leaders to infuse the essential abilities into an organization’s culture. For example data literacy software can help in increasing the skills of employees.
What Exactly Is Data Literacy, And Why Is It Important?
Data literacy is defined as the ability to comprehend, investigate, use, make decisions with, and communicate utilizing data. Literacy also entails assuring data-driven critical thinking and gaining the skills necessary to make that a reality. We must learn to think critically, debate successfully with data, and understand what data is relevant—our decisions and investments rely on it. Organizations’ capacity to develop a strong Data Culture and get value from their data is limited or prevented in the absence of a data-literate workforce. Investing in new technology, architecture, tools, and processes without investing in employee skills and expertise does not produce the advantages and differences that organizations and communities desire.
Employees with data literacy or data skills can use ways to create meaning from data and convey their findings to enhance sales performance, operational operations, and other areas. They may ask the proper questions in pursuit of goals, acquire and link the right facts to their inquiry, establish the reliability of the information, and use this knowledge in relevant business contexts.
Data Literacy Efforts Provide Significant Advantages
Organizations that engage in data literacy and upskilling across all departments, particularly those with more developed projects, find significant advantages such as enhanced customer experience, better decision making, higher employee satisfaction and retention, and more. Here’s a sneak peek at what’s in the whitepaper:
- The Value Of And Expectations For Data Capabilities Are Increasing. Basic data skills are no longer only for analytics teams; they are now required in practically every department—IT, marketing, product, HR, finance/accounting, and others—and have become the most crucial talent for success. Decision-makers regard data skills to be the most crucial abilities for employees to succeed in their everyday work, with 82 percent of executives expecting staff to have basic data literacy. Flexible data-governance solutions can offer guardrails for the ordinary company employee who is new to utilizing data to promote greater data exploration and analysis.
- There Is A Mismatch Between Data Training Requirements And Execution. While both decision-makers and workers believe that data skills are critical for employment success, there is a dispute over whether people are receiving appropriate training. Furthermore, there remain unanswered problems concerning how to assess if an individual is actually “data-literate.”
Many businesses are presently facing a huge barrier on their road to unlocking the value of their data and developing a data-driven culture, with executives underestimating their workers’ training needs or not understanding how to start data training efforts.