The right Data Literacy plan makes uncertainty your ally

Does it seem like 2024 is starting with more uncertainty compared to previous years? Charts like FRED certainly support that feeling. Economic fluctuations, policy shifts, and geopolitical events dominate headlines, making it essential for organizations to quickly adapt.?

In times of great uncertainty leaders have to scrutinize every investment in strategic initiatives. Whether to risk making the investment or get caught sitting on the sidelines. In today's VUCA world, leadership’s short term tactical decisions can be just as challenging as long term strategic ones.

This can impact Data Literacy (DL) programs where the decision to invest can be impacted by the levels of uncertainty and risk.

Spending Approval May Get Tougher

We anticipate that some executives will keep budgets tight through the first quarter of 2024 and perhaps into the second quarter. Large scope programs and anything that negatively impacts productivity may get deferred. This can put the launch date of your enterprise DL programs into question.

So, while it may seem like your roadblock is a lack of approval to spend money, is that the real issue and is there something you can do? After many years of crafting training budgets and implementing large programs, I can share a few practical ideas.?

Phased Approach: Making Uncertainty an Ally

Acknowledge the uncertainty by derisking the investment. Instead of seeking approval for the entire DL program’s funding, consider a phased implementation roadmap that matches partial funding with tangible business results in each stage.

Match phased investment with potential ROI

Design each phase of your roadmap to deliver ROI:

• Outline a specific theme for each phase
• Show 3-4 key outcomes that have tangible benefits
• Identify selected stakeholders impacted by each use case
• Provide a clear cost estimate
• Set realistic start and end dates with shorter time horizon

Here is an example of a Data Literacy Roadmap.....Click to continue reading