In a world where every organisation is on a journey to become data-driven, to digitalise, to automate…
How adept are your staff and stakeholders with data? How data literate is your organisation? Does data inform the corporate decision-making process in the proactive way that modern business needs? Or is it just seen as an overhead, as a consequence of business process? Organisations setting out on the journey to digitalisation would be well-advised to invest in ensuring their staff can meet the challenges ahead.
Recent studies* show that data literate people have better career prospects and that organisations that have invested in the data literacy of their staff see their productivity increase by 6% - big claims but if your staff are set up to see the opportunities instead of the difficulties, everything becomes simpler.
Data literacy is the ability to understand, infer and communicate using data, responsibly.
All organisations are at a different stage of data literacy – even those that work in IT maybe don’t have the full range of skills that they need. Not everyone needs to be a data scientist or data engineer but understanding and communicating with data - that’s vital. And it’s the first step of a longer journey to embed data expertise across all business functions.
It can’t be ignored that the lack of data literacy is at the root of all data issues – if creators or users don’t understand what they can achieve with data, why would they make the effort to collect and manage it appropriately? Why would they bother to learn to use anything beyond MS Excel? Value comes from appreciation that insight ultimately drives action so our ability to understand, infer and communicate with data should be front and centre to all of our transformation plans.
VIQTOR DAVIS are passionate about all things data; we’ve been in the business for 30 years. Our experience covers everything from the deeply technical to advisory and everything in between. We have experienced first-hand the issues that arise from a lack of data literacy and are keen to address this and have developed a unique approach…
*MIT/Sloan Business School 2020