Hello, and welcome to the newest edition of the Decision Intelligence Digest, your monthly rundown of the best, most interesting, most useful information published about decision intelligence.
It’s September! A time when many around the world are settling back into their academic pursuits. Class is in session, and today’s topic is … data literacy!
It’s an important, and sometimes overlooked, aspect of business that will impact how successful any data and analytics initiative can be within a given organization.
Gartner has put a lot of thought into data literacy in recent years. From an article headlined A Data and Analytics Leader’s Guide to Data Literacy:
As data and analytics strategies become integral to all aspects of digital business, being data-literate — having the ability to understand, share common knowledge of and have meaningful conversations about data — can enable organizations to seamlessly adopt existing and emerging technologies.
So, you can’t be data-driven if you don’t speak the language. And yet, many people tasked with making important business decisions don’t speak the language of data.
In the words of Piyanka Jain, data science expert and author of Behind Every Good Decision: How Anyone Can Use Business Analytics to Turn Data into Profitable Insight, “Data is the new currency, it’s the language of the business. We need to be able to speak that.”
Thankfully, technology can help. In fact, David Menninger of Ventana Research sees data literacy as important only when tied to adoption. Speaking about the general lack of data literacy at large organizations, David says this: “My theory about why this situation exists is that analytics are hard to use. They require skills that many people do not have.” However, technology can close the gap for many roles and responsibilities:
[W]hile training may be appropriate as a goal for some personas, I think we can do better for other personas. Rather than train the workforce to do their work in a different, more “data literate” way, why not enhance analytics and adapt them to the way people work?
That’s a smart observation. In fact, it’s shaped our approach to building the Pyramid Decision Intelligence Platform. Pyramid’s VP of Product Marketing, Deepa Sankar, recently published a blog called Redefining Augmented Analytics: How Pyramid Delivers Integrated and AI-Driven Self-Service Experiences. By our definition, “Augmented analytics enables organizations to speed up their journey from data to decisions.”
With the right application of AI and other modern technologies, augmented analytics can bridge the data literacy gap, at least for some people.
As always, thanks for reading our newsletter. Now, scroll on for more recommended reading!
We are thrilled to welcome some fresh voices to the blog this month. Don’t miss these great articles!
An Ontario-based importer, exporter, and distributor of food commodities, Export Packers has been around for over 80 years. Learn how this innovative organization is becoming more data-driven.
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Thank you for reading the Decision Intelligence Digest. If you would like to learn more about Pyramid Analytics, the Pyramid Platform, or want to hear how others in your industry are changing their approach to enterprise analytics, let’s set up a time to talk.