Data Trends and Prognosis 2022

Since 2020 we assist the impact of COVID-19 on advancing digital transformation. This high-speed digitization conducted to a boom in the amount of data organizations are creating. As companies and organizations look to recover the value of this data in 2022, new technologies will be acquired to upskill the workforce and new ways of work will be adopted.

The response to changing customer behaviour and making first-of-a-kind decisions in a new environment of many unknown factors is leading to a critical importance in the ability to read, analyse, work, and communicate with data - known as data literacy.

Unfortunately, the absence of data culture is a crucial barrier in an organizations roadmap to becoming data driven. Nevertheless in 2022, it´s to be predicted that Chief-Data Officers will focus on the key building blocks of data culture, which means appropriate data governance, data literacy programs and the support of a data driven mindset.

The process of fostering data literacy is not about using the latest technology or training individuals to become data scientists or “experts”. It´s far more systemic than that and it involves reaching a culture of curiosity, collective problem solving, consistent questioning and testing of insights as central to every business decision. The advantage of improving data literacy throughout the company are both short-term and long-term. Noticing in the first changes an employee satisfaction and retention and by upskilling their teams with data and analytics skills meeting an important need to retain their talent longer.

It is to expect that driven by the C-suite´s concern over their companies lack key skills, organizations will be pursuing to invest steadily in learning and development programs in 2022. Organization should take advantage of the appetite and consider data literacy an imperative for the development of future workforces for two main reasons:

• A data literate company is more agile, composed, and innovative.
• Employees want and expect training and support for improvement of their skills

Also, will a new generation of tooling upgrade the data team´s productivity since several productivity tools emerged in 2021 and will remain popular in the years to come. These kinds of tools minimize the need for manual work and allow data scientists to perform higher value tasks. A multitude of data generation tools have also been ascending. The capacity in creating balanced datasets at scale is particularly interesting for data hungry organizations.

Large data science teams might also find collaboration tools like Qlik and Microsoft Power BI. These provide the foundation for high-performance and flexible solutions to ensure easy data handling and deliver valuable insights.

There are many organisations that can help transform your business into a world-class data organisation. Informatec is an expert in Guided Analytics and Self-Service BI with Qlik, Cloud-based analysis service with Microsoft Power BI. Informatec understands the need and has taken it a step further to help organisation truly build a modern data driven organization. Having these capabilities on hand and in-house, the iVIEW Data Automation Framework is a Qlik-integrated toolkit which allows you to easily scale your current BI solution and create data capability within your business by:

• Removing the complexity of code – iVIEW Dataflow
• Mastering the management of the KPIS needed for analysis – iVIEW Library
• Empowering businesses to visualize data their way – iVIEW Designer

These tools allow data scientists to cooperate non simultaneous in data exploration. Training is vital for boosting data literacy, but investment in skills development need to be as significant as you might expect. Overall, the effectiveness in using data is in understanding and being clear on the problem there is to solve.

By understanding the commercial and strategic goals you have investigate to explore, analyze and examine the right pools of information to take the business closer to its desired future. Qlik found that 61% of employees report that feeling overwhelmed by data has contributed to workplace stress. A simple benchmark survey repeated over time could uncover some positive findings in relation to this theme of reducing workplace stress, for instance.

Opening discussions between different departments and motivate collaboration is a natural way to increase systemic thinking about data literacy and encourage collective problem solving. But it’s not only about “bringing teams together”. Investing in the right tools to catalogue the data can facilitate cross-organization access.

Evaluating products like iVIEW Library, iVIEW Data Flow and iVIEW Designer helps facilitate this need.

There’s no doubt that data literacy is a essential skill for the future. Believing that and putting in the investment, however, are two different things, particularly when it requires cultural and behavioural change alongside upskilling and a reorganization of culture. While every organization has different objectives and approaches, success comes when everyone is empowered to think outside the box, use data to gain new insights and make smarter decisions, and when a culture of curiosity, intellectual humility and data decision-making becomes a strong part of the tissue of the organization.

In conclusion, data really does become a language of business that everyone speaks.