What exactly is data literacy and why is it so important right now?
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Digitalization has resulted in more data collection than in prior generations, and Covid has underlined the necessity to analyze data at a rapid pace. Businesses no longer want to wait a week for a report; instead, they want real-time or near-real-time actionable data in order to make better decisions.
Whether it is academic institutions trying to decide about opening schools or companies trying to sustain business due to global supply chain disruption, the pandemic has presented some unique, ongoing challenges for getting better at consuming and interpreting data. But not all data is created or understood equally.
There are several definitions of data literacy (DL) and it is constantly evolving. My version is having a certain proficiency and comfort with data usage in both personal and professional life.
We live in a smart world with data all around us. Have you gone to shop for a new microwave or washing machine? Whether it is our microwave or washing machine or garage door opener, the most minimal thing all these modern devices can do is to connect to WIFI and generate data. There is no shortage of data we collect and store, but what we do have an shortage of people able to understand the data.
Most of working population did not have formal training in data literacy. Hence, there is anxiety around the volume of data collected and increased expectations about data usage in everyday lives and at work. It is no different than financial literacy, which has been around longer. Just earning a paycheck with no budgeting or investing will result in an uncertain future. Similarly, collecting data without planning how to use it results in losing a competitive edge in the current market.
Technology is constantly evolving and new ways of doing things are constantly introduced. Not everyone is keeping up with the pace. People’s unease around math and statistics is prevents them from making informed decisions and harnessing the power of data. AI-generated art just won first place in the Colorado State Fair, highlighting the integration of data in our daily lives and the importance of gaining some level of data proficiency.
Just creating dashboards and investing in digital solutions will not result in business value.
There is a data-understanding gap between people in technical and non-technical fields, causing different perspectives about data. The goal of data literacy programs is to reduce and eventually eliminate such gaps.
A common myth about data literacy is that it requires a lot of training, or the ability to code in R and Python, or everyone becoming data scientists. As a result, launching a data literacy program and hoping everyone will follow along is not a realistic expectation.
The following are some strategies for leading a successful enterprise data literacy program:
As the world around us becomes increasingly digitized, succeeding in data literacy in their professional lives indirectly assists people in their personal lives.
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Sangeeta Krishnan is an engaging business intelligence and analytics leader who possesses a winning blend of subject-matter expertise and practical experience from a variety of industries. Most recently, she joined Bayer as North American Analytics Lead for mass sales. She has worked with Fortune 500 organizations, not-for-profits, and everything in between, helping various organizations build their operations and monetizing data products from the ground up. Krishnan is a public speaker, content creator having articles published in industry journals, and was recognized as a Finalist of the Women in IT Awards 2018 (USA) in the Data Leader of the Year category. She is the author of Thriving in a Data World (Business Expert Press, December 2022).