Data literacy is the ability to explore, understand, and communicate with data. Closing the analytics skills gap, it helps companies build a thriving data culture, and more.
Organizations are collecting and processing more data than ever. However, the ability of workers to understand, analyze, and use that data for better decision-making and advancing enterprise goals has not kept pace with technological growth. Smart companies recognize that empowering employees by improving data skills is crucial for digital transformation and the creation of a data culture. Truly data-driven organizations offer opportunities for data training and development beyond traditional data-focused roles. Organizations that invest in data literacy and upskilling at scale across all departments see dramatic benefits, including improved decision-making and productivity as well as greater employee satisfaction and retention. Employee satisfaction benefits were particularly high – employees who were highly satisfied with their organization’s data programs were 10 times more likely to be highly satisfied with their organization overall and nearly twice as likely to say they were likely to still be at their organization in two years.
- Data literacy efforts yielded dramatic benefits. Increased innovation, greater customer experience, better decision making, reduced costs, improved retention, and increased revenues topped the list of benefits. High-maturity programs reported benefits 10% to 50% higher than low-maturity initiatives.
- Data skills are recognized as paramount for all workers. Decision-makers and employees in every department consider basic data skills the most important skills for employee success. By 2025, nearly 70% of employees are expected to use data heavily in their job, up from 40% in 2018.
- Training suffers from a lack of resources and companywide strategy. Many organizations rely on department-level initiatives or directly offload upskilling responsibility to employees. Departmental leaders are twice as likely as employees to say the organization has supplied the data skills workers need, showing a major disconnect. Fewer than half of employees surveyed have been offered data training.
Chosen excerpts by Job Market Monitor. Read the whole story @ Data Literacy | Tableau