Whether you are aware, or you are not, data is being produced at a hyper rate and in massive quantities all around you, from all the wireless devices, and the ever growing number of IoT devices.
What is all this data for? What can you do with it?
There are many uses for this overabundance of data, but I can tell you one thing, how an organization makes use of their data can set themselves apart from their competitors. Data literacy within an organization is important, because it can empower its members to do their job with much more efficiency.
Who wouldn’t want that?
The type of efficiency I’m talking about consists of improving employee engagement, helping to gain competitive advantage, improving decision making, gaining insights faster, and achieving better return on equity and sales.
What is data literacy?
It’s the ability to read data and understand it, work with it and determine how it can be used, analyze it, and question it.
When looking at the data, it is important to always be a skeptic and have a solid grasp of the source of your data. Hunt for correlations and patterns in the data as it can tell the story of how your organization operates. Once you get the story, use it to improve your work methods and construct a more efficient team with more accurate results.