A data literacy skillset is the ability to read, comprehend, create, and communicate data as information.
Similar to literacy as a general concept, it focuses on the skills required for working with data.
By becoming data literate, we can use the massive amounts of information at our disposal to make fact-based decisions. Data literacy is not limited to data scientists or analysts. As a matter of fact, data is a subject that encompasses a wide range of skills, tasks, and responsibilities.
It isn't about coding and complicated tools or programs, but about mastering four important skills:
Considering how important alphabetical literacy was for society centuries ago, Data literacy has been called the most critical 21 st-century skill. It is the most essential skill for working reliably and critically with analytics and their insights. Within an organization, everyone who make decisions, reports, or recommends policies should be able to use it.
A lack of data literacy costs employers an equivalent of 5 productive days per employee. Translating to billions of dollars in lost productivity per employee each year.
There is no doubt that companies are collecting more data than ever before, and it has been proven that smart data enables companies to make better decisions, gain visibility, streamline processes, increase productivity, and drive higher profits. As a result, data literacy has become a core competency for all employees.
But even if organizations have recognized the benefits and the necessity of a holistic data understanding, upskilling an entire workforce doesn’t come easy. Therefore, it's not surprising that most organizations are still struggling to equip their workforces to effectively use all this data.
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