As an HR manager, you know that your workforce is your greatest asset, and investing in their development is crucial for the success of your organization. Data literacy is no exception. A data-literate workforce can make informed business decisions, identify growth opportunities, and communicate insights effectively across the organization. They can increase productivity and efficiency, mitigate risks, improve customer service, and leverage technology more efficiently, leading to higher customer satisfaction and increased competitiveness.
Not investing in data literacy can limit your organization’s ability to make data-driven decisions, negatively impacting your bottom line and competitiveness in the long run. A study by Accenture found that organizations with a high level of data literacy have a 23% higher return on assets and a 12% higher return on sales compared to organizations with a low level of data literacy. McKinsey states that companies that effectively harness data and analytics can see a significant increase in productivity, with the potential for a productivity gain of up to 60%.
The solution is simple: train your employees on data literacy. Access to high-quality data, a well-designed training program, and continuous learning opportunities are essential. But most importantly, senior leadership support and commitment are crucial for creating a culture that values data-driven decision making. Don’t miss out on the chance to give your employees the tools they need to succeed and make your organization thrive in a rapidly changing business environment.
DAIN Studios and with A1 Group will show you how a Data4Business training initiative helped the A1 employees define clear pain points, pitch data use case ideas to senior management, and work in teams on real use cases to, thus increasing the data literacy and the business success of the entire organization.