The common maxim today is that data is the “new oil” that drives the economy. Companies gather and store increasingly massive volumes of data, which comes in all shapes and sizes and from a slew of different sources.Data-driven decision-making needs a holistic approach, which includes company culture, infrastructure and access to centralised data across the organisation.
This begs the question – why? One major reason why companies are falling short when it comes to becoming fully data-driven businesses is a lack of data skills. And if workers are equipped with the skills they need to handle data properly, this can all change. Known as data literacy, this skill gives employees the ability to read, create, communicate with and understand data, and is a critical step in any company’s path to becoming data driven.
More importantly, it helps staff members make data-driven decisions that benefit the business, its operations and its bottom line.
Source: News Formal (newsformal.com)
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