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Data Literacy: : Data-driven Decision-making Markedly Improves Business Performance
Businesses say that a skills gap is making it difficult to find qualified workers, according to McKinsey. 87 percent reported a problem in finding workers.
The top sought-after skill from businesses is ‘Data Literacy’, according to a Forrester study.
Shreeni Srinivasan, director at Sungard Availability Services, said that “it is crucial in today’s world where data is omnipresent. Data literacy can empower employees to make fact-based analytics decisions that are more grounded in reality than the ones made on instincts or gut feeling.”
Miro Kazakoff, senior lecturer at MIT Sloan, said that “in a world of more data, the companies with more data-literate people are the ones that are going to win. Data literacy has always been a requirement in successful organizations. It’s just that data illiteracy is more obvious now — or data illiteracy just causes more damage now than it used to… Data-literate people make better decision. What’s changed is that companies need decision-makers to make better decisions faster than ever before. That requires more people to be data-literate.”
Jennifer Day, vice president at Tableau, said that “it becomes very inspiring when you can show your organization the data and insights that you found and what you did with that information. It takes that leadership at the top to make a commitment to data-driven decision making in order to really instill that across the entire organization.”
Josh Bersin and Marc Zao-Sanders, writing for Harvard Business Review, said that “data literacy has become important, for almost everyone. Companies need more people with the ability to interpret data, to draw insights, and to ask the right questions in the first place. These are skills that anyone can develop, and there are now many ways for individuals to upskill themselves and for companies to support them, lift capabilities, and drive change. Indeed, the data itself is clear on this: Data-driven decision-making markedly improves business performance.”
