03.06.2023 Executive Data Bytes – Building Data Literacy within your Organization

Executive Data Bytes

Tech analysis for the busy executive.

Welcome to another edition of Executive Data Bytes! This week, we are finding the easiest ways that you can improve data literacy within your organization.

Focus piece: “Data Literacy: What It Is and Why It Matters”

Executive Summary

Data literacy means more gains with fewer pains. This Precisely blog explains that, in order to achieve data literacy, organizations must overcome barriers to data literacy and engage in a program of data democratization.

Key Takeaways

• Data literacy is the ability to read, write and communicate data in context. This includes understanding data sources, analytical methods and techniques applied, and the ability to describe the use case, application, and resulting value.
• Poor data literacy impedes an organization's digital transformation and its ability to compete in an increasingly digital-first business environment. Organizations that achieve data literacy reap significant rewards.
• Only 25% of workers feel that they use data effectively in their jobs. Even fewer (just 21%) feel confident in their overall data literacy skills.
• In order to build data literacy within your company, it's important to create an environment where it can flourish.
• It is essential for companies to create a data literacy program that provides the necessary tools and training organization-wide. Allowing employees the time they need to practice data skills and become proficient at using data to make daily business decisions.

Focus piece: “Data Literacy Skills Every Organization Should Build”

Executive Summary

Modern businesses must treat data as their prime asset to thrive and prosper in the global business landscape. This article by Dataversity outlines several data literacy skills that management teams can emphasize throughout any organization to help employees become data-literate.

Key Takeaways

• To achieve data literacy and analytics skills, all employees should be familiar with creating, using, and communicating data across all critical business processes.
• To get employees trained in using business intelligence, managers should explain how decisions are made using data.
• Mix and match teams of data analysts, data-literate employees, and novices for data-enabled problem-solving. Dedicated time and data resources must be provided to nurture the data literacy skills of new employees.
• Employees can benefit from cross-departmental data literacy programs that provide first-hand knowledge of how data is being used across the organization.
• Data literacy is one piece of the bigger picture that includes the overall data maturity of an organization. It is important to adapt the data literacy assessment tests to meet the varying data competency needs and requirements of departments or work roles.

Focus piece: “4 simple ways to improve data literacy across your organization”

Executive Summary

Data is only as useful as your ability to understand it correctly, and a team that understands data makes better data-driven decisions. You can learn four easy ways to improve data literacy in this Pluralsight article.

Key Takeaways

• Data literacy allows you to demonstrate the impact of your work and draw conclusions about why a new strategy worked or didn't.
• Whether you host a talk at lunch or send out valuable information in a Slack message, teaching data literacy at your company will have big benefits.
• A wider variety of perspectives can strengthen your data and the validity of what you take away from it.
• Data literacy empowers team members to be more successful in their roles and makes cross-functional collaboration easier and more impactful.

Talk With Data Literacy Experts

Who We Are

Data Products partners with organizations to deliver deep expertise in data science, data strategy, data literacy, machine learning, artificial intelligence, and analytics. Our focus is on educating clients on varying aspects of data and modern technology, building up analytics skills, data competencies, and optimization of their business operations.