The key to realizing the opportunity of data is to unlock the potential of people within the organization. We have identified five key steps to consider when planning a data literacy strategy.
- Set your data expectations. Define what you want your data to do and how it will deliver tangible value for your organization.
- Create a roadmap to achieve your goals. Understand the state of data and identify the investments needed to empower employees to fulfill business goals.
Start with an objective evaluation of your employees’ data skills. Our research found that some business leaders overestimate the capabilities of their workforce to work with data.
- 75 percent of C-suite level respondents believe that all or most of their employees have the ability to work with data proficiently.
- 50 percent of middle management respondents feel that all or most employees have the right data abilities.
- Arm your employees for data-driven working. Invest in solutions that reduce data cleansing and accelerate data analysis, monetization and productization.
- Close the data literacy gap. Improve employees’ self-confidence to ask the right questions and assess the recommended insights through data literacy training.
We found that employees who identify as data-literate were at least 50 percent more likely than their data-novice peers to say they feel empowered and trusted to make better decisions.
- Create a culture of co-evolution. Regularly assess data tools for all roles to ensure that they continue to deliver based on user requirements.
Education and empowerment will be the true determining success factors in a data-literate world.
With only less than a quarter of the global workforce reporting that they are confident in their data literacy skills, business leaders must invest in data upskilling to help improve their employees’ use of data and strengthen their data-driven culture. It will also enable organizations to accelerate time to insights, create new streams of revenue and fuel data-led growth.