How Data Literacy Playing a Vital Role in Today’s World
The greater your data literacy is, the better your results will be. I see it every day in my work with companies all over the world that organizations that do not improve data literacy among their people will fall behind because they will be unable to effectively utilize the critical business resource of data to their advantage.
In this article, I’ll explain what data literacy is, why it’s important for any organization, and how to promote it.
What does it mean to be data literate?
Data literacy refers to the ability to comprehend, work with, analyze, and communicate with data. It’s a skill that demands employees at all levels to ask the proper questions of data and machines, as well as produce knowledge, make decisions, and transmit meaning to others.
It isn’t only about digesting information. You must have the confidence to challenge evidence that isn’t performing as it should in order to be educated.
Literacy facilitates the analysis process by allowing for the consideration of the human element of critique. Organizations are searching for data literacy not just in data and analytics professions, but in all occupations. Companies that spend heavily on data literacy programs will outperform their competitors.
Why is data literacy important for every company?
According to the International Data Corporation (IDC), even though spending on big data and analytics products is expected to exceed $200 million by 2020, 50% of organizations will still lack the data literacy and AI skills needed to generate commercial value.
It makes no difference how much data your company acquires; it’s useless unless and until it’s put to good use. Before data can be used to generate meaningful insights, it must first be analyzed. Incrementors solve all your data techniques with their strategy.
Poor data literacy is one of the biggest hurdles to the CDO’s performance and a company’s capacity to develop, according to a Gartner Annual Chief Data Officer (CDO) Survey. To fight this, Gartner forecasts that by 2020, 80 percent of organizations will have dedicated programs in place to address their employees’ data gaps.
Data literacy is what literacy was in the previous century for the twenty-first century. It will help you gain momentum and achieve your goals. It is critical for everyone in an organization to understand why data literacy is so crucial. Employees should be able to use data to impact both their daily actions and large-scale choices.
It can help every employee reach their goals, do their jobs better, and contribute to overall corporate performance if implemented correctly. And, by allowing everyone accesses to the data, you can automate and expedite your processes by eliminating the need for data scientists to interpret the data for people who know their business. The bottleneck has been eliminated.
Furthermore, personnel who are data literate will know how to handle data responsibly, reducing the incidence of data breaches (employees are currently responsible for 40 percent of security breaches).
How can data literacy be promoted and built?
Create a data literacy education program CDOs should implement data literacy training programs in order to meet the lofty goals of D&A strategies and close skill gaps. It can assist them in creating an atmosphere in which learning D&A skills and developing data literacy expertise are ingrained in the company’s culture.
Begin by identifying native and fluent data speakers. Take a look at the business analysts, data stewards, and architects who can talk data fluently and intuitively. Also, look for qualified translators who can act as business group mediators.
Second, look for instances where a lack of communication prevents data from being used to its full economic potential. To discover gaps in data literacy, conduct assessments and use the results as a baseline.
When it comes to teaching groups about data, keep it lighthearted and open, and go outside the box for training options. Use games, quizzes, and other creative teaching methods in addition to slides and presentations.
Evaluate the success of your data literacy efforts
Employees and supervisors should be aware of the advantages of data literacy training. They should be able to answer the question, “What is in it for me?” with confidence. “How is the training acting as a link between my current or future role?” and “How does the training help in the connection to my current or future role?”
CDOs can use the following strategies to obtain obvious and measurable value from the planned training:
Examine the training’s objectives and expected outcomes to determine the success criteria for data literacy programs
After the training, require employees to learn on-the-job activities. Solicit regular feedback from employees so that the training is more relevant and meets current skill gaps and knowledge requirements.
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The requirement for professionals who can show data literacy will surely rise as big businesses and organizations become increasingly aware of the data. As a result, you should spend time improving your data literacy intelligence which might be a wise investment.
You can improve your data skills in a variety of ways. Volunteering for projects that expose you to your organization’s data and data team is a popular method.
You can develop a healthy awareness of how data is used within your company over time. Alternatively, you can take an online data science or analytics course that will teach you the fundamental skills you’ll need to succeed in your position.
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