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"Data is the new oil" - almost every company has come to this realisation.
The range of mature, powerful analysis and reporting solutions available to extract this ‘new oil’ is diverse. But it is also becoming increasingly clear that no single technology is capable of establishing a corporate culture that is driven by data. No matter how high the degree of automation, business intelligence software will always play a supportive role that cannot unfold its full effect without human intelligence.
Employees are needed who are capable of collecting, managing, evaluating and applying data in a targeted way. The main focus here is not on technical specialists - data scientists - but above all on employees of the specialist departments. They need to be in a position where they can work and make decisions with the support of data.
This includes formulating data-related questions, to critically scrutinise data and to interpret data analyses properly in the their respective work areas. The Data Literacy required for this describes the core skills that these employees must have today, in order for the digital transformation to succeed. Data Literacy includes a range of individual skills - from creating basic awareness to ethical and legal issues.
Canadian researchers at Dalhousie University in Canada have identified a total of 22 competencies with associated skills, knowledge and tasks and grouped them into 5 competence fields.
Data literacy competence according to Ridsdale et al. - Knowledge Synthesis Report
A competence model can be derived from this that encompasses interlinked content and process areas. In turn, these require know-how in the company.
Gesellschaft für Informatik - Digital Competences in Higher Education (DE)
So far, however, these data skills are not sufficiently present in companies. According to a study by the Wharton School and the IHS Markit Institute, 92 per cent of corporate decision-makers appreciate the importance of a data-competent workforce - but less than 20 per cent support their employees in strengthening their data skills.
Automation, robotics and artificial intelligence create fundamental changes in the way we live and work. And data is the universal language of this fourth industrial revolution.
The Data Literacy Index
Companies are under pressure to invest more in human resources rather than in technologies and solutions, as has been the case in the past. They need to hire employees who possess these skills. Or choose the much more realistic and sensible approach in light of the prevailing shortage of skilled staff in this area, and ensure that the existing workforce becomes data-competent through appropriate training and education measures.
To help build Data Literacy, companies should consider 5 important tips. Discover more in our whitepaper!
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