In today’s fast-paced and increasingly digital business environment, data has become the lifeblood of companies; it drives growth, innovation and competitive advantage. The question is not whether data is important or not, but rather how well an organization can harness its power. This article explains what data literacy is and highlights the importance of making data-driven decisions, shedding light on what is required to achieve this objective.
Data literacy refers to someone’s ability to read, understand and effectively communicate data. Just as traditional literacy enables people to read and understand written texts, data literacy equips individuals to interpret data, extract valuable insights and make informed decisions. This isn’t limited to data scientists or analysts; instead, it’s a fundamental skill that should be widespread across an organization.