By Umme Sutarwala - September 01, 2021 4 Mins Read
Generating data is easier that ensuring it is clean, structured and usable- hence actionable, valuable, and reliable. No one has yet “cracked” data. Even the most successful businesses are on a never-ending journey, which means that boosting data literacy across all members of the team is critical.
Despite the fact that data literacy is now a necessary skill in many organizations, Accenture in its 2020 report “The human impact of data literacy” discovered that just 21% of 9,000 employees felt confident in their data literacy skills.
In today’s business environment, data literacy has become critical for almost everyone. There is an increasing demand for employees with the capacity to understand data, develop conclusions, and ask relevant questions. These are skills that anyone can develop, and there is now a plethora of opportunities for individuals to up-skill and for businesses to support, boost capacities, and drive change. Data-driven decision-making significantly increases corporate success, as evidenced by the data.
Organizations are responsible for ensuring that their employees not only gain data literacy but also have access to data and the tools they need. Data decentralization allows everyone to make more informed decisions.
Computing power is brought closer to the data source via edge computing. Companies that are data-driven recognize the importance of this strategy and are empowering their “on the edge” staff by allowing them to access and share crucial data. Employees on the edge are leveraging data to execute their jobs better, from sales associates to delivery and repair workers.
Data literacy allows employees to not only do their jobs better but also to collect and share useful data, which increases the company’s data wealth and improves the user experience.
Here are five strategies to assist executives and businesses increase their data literacy:
CEOs have traditionally turned to analysts to translate data trends, and data analytics has not always been the domain of the C-suite. Senior executives, however, can help to develop a data-driven culture throughout the organization if they become data literate.
Data analytics should be taught to all employees, including hard skills like statistics, data retrieval, reporting, and technology navigation, as well as soft skills like interacting with customers, understanding data patterns, and utilizing them to resolve issues.
Frontline employees who apply their data literacy abilities to improve the customer experience, assist co-workers, or contribute to corporate growth through data analytics should be recognized publicly and rewarded with bonuses, paid time off, presents, and other incentives.
Although data analytics is no longer limited to the IT department or data scientists, they continue to play an important role in its process. It’s critical that all employees communicate their data goals to IT, allowing data science teams to optimize the data by cleaning and structuring it as required.
Businesses that take data analytics seriously frequently establish centers of excellence, which are made up of power users and data-driven individuals. This method is effective in evangelizing the rest of the organization.
Successful businesses are increasingly reliant on data in all forms to inform their every action and strategic business decision. To make the most of this valuable resource, every employee, regardless of their position, should learn to read data, communicate the message it contains, and act on it for a successful business outcome.
Umme Sutarwala is a Global News Correspondent with OnDot Media. She is a media graduate with 2+ years of experience in content creation and management. Previously, she has worked with MNCs in the E-commerce and Finance domain
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