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Data literacy: A key component to drive the businesses in the Industrial Revolution 4.0

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In the latest times, we are seeing many changes and advancements in the technologies. Every aspect is changing daily which is instant and quick. In the current living style, everyone is being a part of literacy and aiming to read, write, analyze new things, and it’s evident in the recent survey analysis too. Keeping this apart, let’s think of something more efficient and everyone should know and be literate in it as well. Every organization is bringing up its business by performing some analysis and taking the right decisions for enhancements and growth improvements in the organization. Alteryx and the business intelligence tools pave their way to perform data analytics. One can understand the concepts and undergo Alteryx training and certification to gain in depth knowledge.

Did you ever think of how the analysis is done and how they can achieve their goals and objectives? Yes, the teams in the organizations use data which is the most important aspect to run the analysis. Don’t you think that it is important on how to analyze the data and become a data literate as well? I would say it is crucial to learn about data as the world is running around the data. Using the data and its analytics, all the organizations have come up with their approaches and strategies that would become a reason for the development in the fourth industrial revolution. 

In certain research and analysis made by researchers, it is found that only 10-11% of US employees are aware of data literacy. The modern world has already paved the way for the digital revolution and the industries are on the edge of the revolution. The fourth industrial revolution is defined to be the path to change from the technology to be competitive across all the aspects and industries in the world. The achievements will be gained by those individuals who are evolved and emerged with the data skills.

With the past industrial revolutions and the coming revolutions, we have seen a drastic change in the technologies, developments, and implementations across the world. To answer the questions with the technological transformations and analysis, many tools have come up that are designed and developed to answer the issues or resolve the issues that the teams, employees, customers, everyone around this world. Not only tools and developments, but there is also much that we need to be cautious about in this shifting world of the living.

All the requirements are changing, the technology is changing, everything and every organization is looking for a change. In recent years, we have come cross tremendous changes in the data intelligence industry. The automation level has gone away up.

With these modifications, changes happening, do you if it is right for the business to be left behind? Is it good to leave the organizations without any development or changes?

I don’t think so. There is an answer to the questions we have. As data is the term and everything that is booming and transforming in all kinds of the modern world, it is essential to utilize the data to make the right decisions for business developments. Hence, as data is everything now, it is important to develop the data skills within us. Be it, men or women, anyone can be a data scientist, a recent survey has revealed that women are most of the data scientist professionals Every organization that is purely into the implementation of transformational activities, initiatives, then the team will invest its focus on building an approach and strategy of data literacy in the organization. Such organizations will look for individuals who are into data analytics with data-related skills. 

Giving an in-depth knowledge to the employees, providing internal training on how to make use of the analytical tools can surely help an organization to deal with the data related to the organization. Alteryx tools and their forums like the Alteryx community are the experts in data science analytics that help in providing the latest and different ways of working with the data. As per a study that has been done in 2019, it is revealed that 95% of the respondents have pushed the reason to be with the people working on it for not analyzing and meeting the requirements. How can we think it is possible to get all the requirements to be done without the knowledge of the subject

Over the last 10 years, this was the thing that happened in every organization and then there came up a resolution that has some integrated tools with the best compatibility and accountability. Not everyone evolved into these data analytics and data intelligence tools, but at least a few of them have started their new era of beginning. Now, we can surely tell that data science and data intelligence is going to rock its way with full-fledged improvements and opportunities diving your way.

I can say success comes your way or to the organization when data is considered as the essential key component. Data literacy is the most important component that drives your organization by collaborating with multiple teams with the potential to deliver the best results that are keen on the organization.

In the past, crude oil or simply oil is called one of the most valuable resources. Now, do you think it is the same? I don’t think so. It is because I do not see any advancements in the world because of it. But I can tell that data is one that has become a valuable resource as everything runs and works on data these days. I hope you understand the importance of the data, data analytics, and business intelligence with my comparison.

In simpler terms, explaining data literacy is defined as the ability to read, write, work, analyze, and communicate with the data. All these operations are done within the organization to empower all the levels of the works, enhance their skills, build knowledge helping to take decisions precisely. Data literacy is important for a better transformation of your business. 

In the context of big data, the individual has to know the mathematics and statistics to perform any kind of data analysis. As said prior, the organizations will surely look for individuals with data-related skills and analytical skills.

Let us have a review of some of the abilities that are included in the Data literacy skills.

  • Firstly, a data analyst or the individual with the skills should have a knowledge of which kind of data is the most appropriate to use for a particular function or purpose.
  • An individual should have the interpretation skills wherein he/ she has to interpret the data visualizations, usually being the graphs or charts that represent the data in the organization.
  • He/She should have the ability to think over and over about the information gained during the analysis of the data which is one crucial skill to be considered.
  • An individual should know the different tools of data analytics, methods to be followed along with their nature of use.
  • An individual should be capable of identifying when the data is misused or misrepresented with his analytical skills that would help the organization falling into threats.
  • When the individual builds with the data literacy skills, then it is the responsibility of him to give an idea and explanation about the data to the people who lack data knowledge. This process of spreading the learning and skills in data or business intelligence is called Storytelling.

As we all know, when there is scope to learn and implement in the right way, everything goes well. Where do you think there is a scope to learn about data? I would say, it could be with the training sessions within or outside the organization. As many of the organizations are trying to teach and implement a lot related to data, we should also be aware of the strategies and methods that they are using to build up the data literacy skills and the ways to improve the knowledge. Let us have an idea about it too.

  1. Know who is the clear owner of the data: The organization should have an idea of who is the owner of the data at every level in the organization. It needs to gather information about the different team members with their skills and analyze who is build up with the data literacy skills to a high extent so that they can share the knowledge with their peers at any point in time. Establishing communications is one best way to learn more from each other.
  2. Make the right choice of the tools: It is important to analyze and understand which tools suit the better to run your analysis and workforce. You should have a clear understanding of the visualizations that you see related to the data. Hence, making use of the tool that you could understand better is a good sign rather than feeling inconvenient with the toughest tools and utilizing most of the time in understanding them.
  3. Teaching: Every organization should aim for establishing a program to enhance the knowledge to their employees with related to data. It could be a part of the onboarding process as well so that they will get an understanding of how the organization abides and works on the data and related activities.
  4. Encourage and include the questions raised about data interpretation: Everyone has a different level of thinking. It could raise many different questions relating to the data. These questions can be raised and answered in the forums or discussion meetings which could bring up different perceptions and ideas. This will in turn help in making precise decisions by the organization. I would say to encourage and create such sessions that would spread the knowledge among each other.

Data literacy is the biggest and important word in Business Intelligence. Data Literacy means the ability to run and manage the data analytics. It is a big scope for the organizations to make Data literacy at the top of the bar, adding to the priority list as it would help in building the strategies and developmental methods for the betterment of the organization. 

For the organizations that are trying to see the growth in a short span of time, data is not optional. It is a necessity that helps them in driving the insights of the organization and make the necessary plans to build the organization efficiently. If the organization does not hold the individuals with good data skills, then it would be a tough time for the organization to meet the business requirements and enhance the business paving a way for the competitors to be on the top in the market.

Business intelligence uses a completely different approach to data analysis which can be compared easily. When the first of projects have been developed and implemented, they used the tools that are focussed on the data modeling, data warehouses, etc which could not give the user a better analysis of the data. With the advancements in the latest technologies, it has turned out to be the opposite completely. In the data modeling related projects, less time and money are used with less user interface whereas, with the latest modeling, it has turned to be different by giving more time for user interface designing leading to the best decisions to be taken by the organization.

Conclusion: 

Data literacy in Business intelligence and business analytics will surely help you in setting the right knowledge with the best career. Developing data skills is the aspect that the individual or an aspirant or an organization should focus on. I hope you have got an idea of how data is representing this world and the organizations. Now that you are aware of the key importance of data literacy and how it helps the organizations, I would recommend you to build up the data literacy skills. This will indeed help you in attaining the right path to your career as this will be booming in the coming future.

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