There is a lot of talk these days about “data literacy,” but few people take the time to understand what the term means. As data is seen as the backbone of companies, organizations must help employees use data correctly. Employers must be taught how to make the most of these investments for them to fully benefit from them.
Data literacy skills are preferred by most employers to job applicants. The study showed that only 21% of U.S. employers thought a degree was an important consideration when considering a candidate for any job. In contrast, 64% of U.S. companies are looking for candidates with skills.
What is Data Literacy?
Data literacy can be defined as the ability to work with, read, analyze, communicate and interact with data. It involves all levels of workers and allows them to make the correct inquiries about data and machines, build their knowledge, make decisions, and share significance with others.
You see, it’s not just about understanding data. To be educated, one must have enough confidence to question data that doesn’t behave as expected. Even though it is possible to know everything, it is extremely unlikely. Also, it is impossible to recognize anomalies in large volumes of data. Or perhaps literacy may help the analysis process.
The study concluded that companies are increasingly looking for data literacy across all occupations, and not just in data and analytical positions. A study shows that companies that invest in data literacy programs more aggressively will win than those that do not. Data Literacy Index has shown that companies that have higher rates of data literacy are valued at 3% to 5% more.
Data Literacy: The Reasons
Most organizations have at the very least one data analyst to mine information for them, but data literacy happens when there are many employees with access to relevant information.
Learning data literacy is a complex task that requires several components. It includes technology and tools, but employees also need to be able to think about data. They should understand how it can be valuable and what it shouldn’t. Additionally, data literacy might require a culture of data appreciation by everyone as an essential vehicle for decision-making.
Data Literacy Training should be encouraged and promoted. Individuals, who aren’t familiar with data terminology, how to use it, and what the terms mean, will be difficult to spread data culture.
It is similar to traveling to distant places without being completely prepared.
When data is presented to employees, they should be able to see, control, and communicate with it. Excel is often used by many because it’s familiar. However, keeping data in Excel as a desktop application can be restrictive and cause irregularities. Even though the data is identical, it can lead to inconsistent results and information loss.
It is very useful to have a common platform for sharing, analyzing, and viewing data. This provides everyone with a single source, ensuring that they have the most current data. With centrally managed data, it is easier to enforce governance and security policies.
Other essential elements of data culture are strong analytical and statistical skills. Data visualization can simplify complex data. It also allows for simple human exploration of data to uncover answers to questions. If you can communicate in the language data and can be familiar with data, then a person who doesn’t know the statistics can now speak with the one who does?
Essential element of data culture is the willingness and ability to learn. We must be willing and able to admit our mistakes and learn from them. Another aspect is helping others spread knowledge and understanding. Data storytelling, which can help to unlock the creative mind and make complex data more understandable, is another element.
The Business Intelligence Industry has been in good health for quite some while. Automation is an improvement. Despite the fact business intelligence and analysis procedures have always been computer-driven processes, they continue to evolve and increase in importance every day. A second question emerged: What is the future role for data analysts?
This is where data literacy can help. Many experts believe that the human factor will still be important in the analysis process, regardless of how advanced the automation is. This is perhaps why people are intensifying their efforts. The future of business intelligence is visible, and we can all see how it will look. However, data literacy is essential for everyone.