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What is data literacy: data literacy in the company, machine learning and artificial intelligence.

12 April 2022

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SUMMARY

By 2030, data literacy will be a key skill in the world of work. The ability to know how to analyze and exploit data will be decisive for the various company activities and to be able to enrich the business of a company.

What is data literacy? Data literacy in the company

Data literacy is the ability to identify, archive, organize, use information In Italian we can translate it with “data literacy”, That is the ability that people have to interpret them correctly and to express concepts through them. By selecting the most relevant information, a specific event or phenomenon can be told.

In the current landscape, it is particularly important to know how to understand the data available and extract value from it. It’s about a relevant competence within companies, which increasingly rely on professional figures related to data (such as data scientists or data analytics), but which day after day increasingly involves the type of transmission of information within of a specific working reality.

Data literacy: the most requested professional competence by 2030

According to a report by Qlik, a US software company, in collaboration with The Future Labs, 85% of executives believe that data literacy will become the most requested skill on the job market by 2030 and that it will be considered a strategic requirement on a par with the ability to use a computer. In the space of eight years, therefore, according to this accurate analysis, data literacy will represent a real engine within companies.

On the other hand, 58% of managers believe that this skill will help them to maintain an important role at work. A novelty of great impact also on an economic level, because business leaders would be willing to offer a salary increase of 26% to candidates in possession of “data analyst” requirements. It could be a change of pace for the market of the future and we could see a revolution in terms of jobs and technology, also because this process could go hand in hand with the increasingly massive introduction of artificial intelligence.

The benefits of data literacy in companies: the reasons for leveraging analytical skills

Accurate data analysis, whose size and heterogeneity is increasingly growing, allows to accelerate the development of decidedly innovative analytics projects. For a company it can be useful for know their customers better and anticipate their behaviour, but also to create new products and services, without forgetting the possibility of increasing the efficiency of business processes.

Data literacy is important in a company because data management, in its various facets, can help to base the security of its production chain on machine learning. A business can improve its productivity and competitiveness by directing marketing through automated campaigns or by providing customer support through artificial intelligence.

When data analysis and big data become crucial for a company’s business, then data literacy becomes indispensable. Associated with data science, it enables workers to ask the right questions and interpret data, communicating its meaning to others and having an added value in making the best possible decisions.

Data literacy ensures the advantage of responding quickly in an increasingly competitive market environment, where consumer needs have now reached the highest levels. Employee skills and the possible transversality of data literacy, which must become accessible to different company figures, can be a crucial lever for success. In fact it is a tool that improves management decision making ..

The growth of data literacy in the company and the skills of workers

According to the Qlik report, data usage has doubled in the past year and their importance in decision-making processes. 89% of executives expect everyone on their team to be able to explain how data guided their decisions.

Business leaders believe employees’ daily practices will change and become increasingly collaborative, also thanks to the support of artificial intelligence that will help them make better decisions (according to 84% of respondents) and be more productive (83%).

But currently, only one in five employees believe their employer is providing the right tools for a more automated and data-driven reality. At the same time it should be noted that40% of executives expect their organization to hire a Chief Automation Officer within the next 3 years.

This percentage even rises to 99% if we refer to the next decade and here, therefore, we can say that data literacy will be the most requested skill on the job market in 2030. Not just hiring senior figures, as they will need support during the transition. 58% of employees say that data literacy will help them maintain a prominent position in the near future.

The characteristics of data literacy

  • Business intelligence. A set of processes and tools that allow companies to group data from different sources and extract strategic decisions.
  • Data visualization. It allows you to build predictive models, modify data, create complex queries and analyze unstructured data.
  • Self-service data analytics. Use of tools that allow business users to independently manage the data query process.
  • Data quality. Clean up and manage data, allowing systems to integrate all related data in order to offer a complete view of the business reality. The reliability of the decision-making process depends on the quality of the data.

“We often talk about how employees should understand and make the most of artificial intelligence and how it will change and complete their role, but we must first and foremost help them develop the skills that allow them to add value to the output of these intelligent algorithms. . Data literacy will be key to extending workplace collaboration beyond peer relationships. Creativity and critical thinking will be the key to truly exploiting the intelligence of the machine ”.

Elif Tutuk, Qlik VP of Innovation & Design

The power of data literacy and the strength of XCALLY, the omnichannel software

Thanks to the continuous development of advanced technologies in the field of Machine Learning, AI and Big Data, INGO is able to offer products designed specifically for contact center management , such as XCALLY, the omnichannel software used in over 70 countries by 10,000 users.

By exploiting artificial intelligence, it allows you to generate bots to satisfy customer requests by interpreting their intentions. It also offers the possibility to access customer information stored in the CRM system, integrates the help desk processes with the ticketing system and allows you to make the platform even more performing by integrating the services you need.

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