Be Data Smart!!

Context

Data driven decision making is on the rise in enterprises across the spectrum. It is natural as everyone has realized that there exists a gold mine of information available inhouse. This can be used for achieving optimization in operations, process efficiency, increased productivity and more. But, to achieve this some hurdles must be surmounted. Firstly , there is an incredible amount of data to be dealt with and secondly collecting data is not the same as understanding it

Critical skill gap and low data literacy  is what causes delays in implementing digital transformation and data analytics initiatives in many teams.

Data Literacy

Having the ability to understand, share common knowledge of and have meaningful conversations about data – Gartner

Clarity and understanding are critical for any innovation. Data driven innovation is no exception. Understanding the data available and communication of data as information is at the core.

Data literacy starts with understanding of all the stages in the data ecosystem viz

• Collection
• Management
• Reading Data – theory and analysis
• Reporting and Presentation

Today chief data officers have the responsibility of not just formulating effective data strategy in enterprises but also to quantify and track progress of people to build an effective data literate workforce.

Culture

If data and its effective use and analysis becomes a part of the daily operating model, then it benefits the enterprise in its entirety.

Democratization of data science from shop floor – to top floor should be the objective.

This means that all levels of the enterprise, the stakeholders understand the concepts involved in data collection, filtering, quality, and representation. This will help the enterprise move from experience and or person driven decision making to fact basis.

Possible Strategy

Of course, as is the case with any transformation, the data literacy initiative also needs to be taken up step by step.

The literacy program can drive data adoption by upskilling the taskforce in workforce. A micro-lesson-based program approach, which is designed to be self-paced can significantly push adoption. Also, secure cloud-based access means stake holders can plan their learning as per their convenience without disturbing their work schedule.

A typical program structure can cover the following areas

Of course, it cannot all be theoretical. Practical implementation on actual use cases helps in accelerated understanding and adoption.

Implementation methodology – A 360 approach

A sprint-based approach to lead from strategy to business impact.

Finally, the last stage is the Optimization stage.  

This involves governance aspects like monitoring, measurement, and continuous improvement to optimize performance.