Research shows that data-driven organizations are more successful, but employees often lack needed data literacy skills.
According to a 2020 survey by Sapio Research, 80% of decision-makers believed opening up access to data has a positive impact on their organizations and 74% said employees have access to the data they need. But 53% of respondents reported employee resistance to using the data.
Meanwhile, research has consistently shown that data-driven companies are more successful. A 2019 survey by McKinsey & Company, a management consulting firm, showed that companies where employees consistently use data in decision-making are one-and-a-half times more likely to report revenue growth of more than 10% in the past three years.
The difference comes down to data literacy.
“It is crucial in today’s world where data is omnipresent,” said Shreeni Srinivasan, director of enterprise analytics and applications delivery at Sungard Availability Services. “Data literacy can empower employees to make fact-based analytics decisions that are more grounded in reality than the ones made on instincts or gut feeling.”