DATA LITERACY

The capacity to explore, comprehend, and communicate with data is known as data literacy. It includes the ability to use, interpret, and make decisions using data as well as the ability to communicate the importance and value of that data to others. According to a poll, businesses that make large-scale investments in data literacy and skill upgrading, particularly those with more established efforts, gain greatly in terms of decision-making, innovation, productivity, customer and employee experience, and other areas.

Basic data literacy is seen as the most crucial competency for success by both decision-makers and staff members in diverse divisions. While everyone acknowledges the value of data skills for the success of the workforce, there is disagreement over whether or not employees are receiving sufficient training. Forrester discovered a disconnect between the need for and actual application of data skills training, which is hurting firms' ability to compete.

What is Data Literacy?

Before we define data literacy let’s define what literacy is and expand that definition to data literacy. Literacy can be defined as the ability to identify, understand, interpret, create, communicate and derive meaningful information from printed or written words.

We don’t need to be data scientists to understand or work with data, but all of us do need to possess and be confident in our data literacy skills, i.e. — the ability to effectively read and comprehend the data and information that is presented to us. We need to analyze the data to find insight within. With good actionable insight, we can make data-driven decisions and empower people. Finally, we need to develop skills to communicate effectively with data.

To derive meaningful information from data, we need to look at the data and understand it. Data Literacy gives the ability to question the data quality, data integrity, the analytical methods or formulas used that led to the result, and to question the statistics behind it.

Asking these kinds of questions, assist us in developing curiosity about the data that will be consumed within or outside the business organization. We need to have a critical eye toward the data and the answer provided for the questions asked and their usefulness.

Data literacy is a skill that helps us to answer the following questions that assist in delivering high-quality data that is truthful to its nature.

Do you trust your data?

1. Data Literacy is the ability to question if my data is accurate.
2. Data Literacy is the ability to question if my data is useful.

Do you trust what you see?

1. Data Literacy is the ability to understand how aggregations were calculated.
2. Data Literacy is the ability to understand basic statistics.

Do you trust what you create?

1. Data Literacy is the ability to use facts to communicate complex ideas, without misleading your audience.
2. ?Data Literacy is the ability to use all the facts, including missing data.

Why does data literacy skill need to be developed across an organization?

In today’s era of data and digital transformation, the responsibility of skills development has shifted from academic institutions to business organizations, where various development programs are flourishing. Companies like Bloomberg, Guardian Insurance, and Adobe now have data science and digital academies that are focused on helping employees in all disciplines learn how to analyze data.

Challenges-

• Dismiss data because they are unable to comprehend it.
• Cultural Challenges.
• Complexity ( human thinking ).
• No common language.

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