Data Literacy is significant for to understand how to analyse their performance from the perspective of growth, improvement in efficiency and revenue.
Digging data is easy, but drilling actionable, reliable and useful insight is not. Hardly a few companies are there that have been cracking data. They have been frequently mapping success through data analytics, which is aimed at improving data literacy amongst all team members.
It is simply because information-driven organizations have been providing an easy access of data to managers & executives that they need, which eventually make positive waves by improving performance and revenue. A 2020 survey by Sapio Research has also proved it stating that 80% of decision-makers incline to data for making positive changes corresponding to analytics-driven insights. But, this percent reduced to 74 when it comes to an access to employees.
In short, it is data literacy that is significantly responsible for improving in business and multiplying ROI.
Data Literacy
Data literacy is a deep understanding of data that tells where a particular set of data comes from, how to communicate with the information underlying it and where to use the error analysis in this data science for exploring decisions that are better. You can conclude around why a particular strategy clicked well and another just failed. In addition, you have an amazing way, revealing where you have done mistakes and how you can dice with risks.
Data Literacy Boosts Growth & Revenue
It is figured out that the enterprises, which have more data literate employees, understand that data literacy is to discover failsafe decisions. It is simply because this literacy is no longer just a legacy of the managers or administrators. The executives also have the clarity as being a part of that intelligence journey.
Although you have AI-driven analytics, which automates database structuring upon fetching relatable details, yet you are not going to get to flexible and actionable decisions without some level of literacy about what the extracted information conveys. You cannot optimize pricing strategies. Neither can you put the intelligence into action, which eventually leads to the loss of money, time and efforts.
Benefits
A very famous beverage company reportedly plugged to BI, as its manual reporting process was insufficient and incapable for accessing real-time sales and performance analytics.
A Forrester Research survey has made a surprising revelation that 90% of surveyed data and analytics decision makers observed spectacular growth in the usage of data insights in decision making as a priority.
However, just 48% of decisions were stemmed out of the quantitative research & analysis. So, there is still a great scope of improvement.
Different Ways of Improving Data Literacy
All these methods underscore how data literacy can help you to improve scalability and revenue much more than ever. You have a crystal clear picture of what you can do to have a failsafe production, which deep analytics tell you all about.
Digging data is easy, but drilling actionable, reliable and useful insight is not. Hardly a few companies are there that have been cracking data. They have been frequently mapping success through data analytics, which is aimed at improving data literacy amongst all team members.
It is simply because information-driven organizations have been providing an easy access of data to managers & executives that they need, which eventually make positive waves by improving performance and revenue. A 2020 survey by Sapio Research has also proved it stating that 80% of decision-makers incline to data for making positive changes corresponding to analytics-driven insights. But, this percent reduced to 74 when it comes to an access to employees.
In short, it is data literacy that is significantly responsible for improving in business and multiplying ROI.
Data Literacy
Data literacy is a deep understanding of data that tells where a particular set of data comes from, how to communicate with the information underlying it and where to use the error analysis in this data science for exploring decisions that are better. You can conclude around why a particular strategy clicked well and another just failed. In addition, you have an amazing way, revealing where you have done mistakes and how you can dice with risks.
Data Literacy Boosts Growth & Revenue
It is figured out that the enterprises, which have more data literate employees, understand that data literacy is to discover failsafe decisions. It is simply because this literacy is no longer just a legacy of the managers or administrators. The executives also have the clarity as being a part of that intelligence journey.
Although you have AI-driven analytics, which automates database structuring upon fetching relatable details, yet you are not going to get to flexible and actionable decisions without some level of literacy about what the extracted information conveys. You cannot optimize pricing strategies. Neither can you put the intelligence into action, which eventually leads to the loss of money, time and efforts.
Benefits
- Easily Know The Problem
A very famous beverage company reportedly plugged to BI, as its manual reporting process was insufficient and incapable for accessing real-time sales and performance analytics.
- BI To Counter Challenges
- Easily Enable Self-Servicing
A Forrester Research survey has made a surprising revelation that 90% of surveyed data and analytics decision makers observed spectacular growth in the usage of data insights in decision making as a priority.
However, just 48% of decisions were stemmed out of the quantitative research & analysis. So, there is still a great scope of improvement.
Different Ways of Improving Data Literacy
- Educate as per employee’s profile
- Literate as per need
- Offer workshops
All these methods underscore how data literacy can help you to improve scalability and revenue much more than ever. You have a crystal clear picture of what you can do to have a failsafe production, which deep analytics tell you all about.