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Panel: Learning and Development for the Data Driven Age

November 2021
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Earlier this year, the world economic forum released a report on upskilling for shared prosperity, it was a call to action stating that closing the skills gap could add up between 5 to 6.5 trillion US dollars to global GDP by 2030.

Now more than ever, the learning and development function has never been more important when it comes to raising data literacy and competencies throughout the organization. In this panel, Kerrie O’Sullivan & Sheil Naik from the Bloomberg Global Data team, and Marcus Robertson from NatWest Group, will discuss the importance of L&D for data-driven organizations, best practices designing digital-first learning experiences, and how they go about sustaining a learning culture in their organizations.

Key Takeaways:

  • The importance of learning and development for any data-driven organization.

  • The importance of data skills training—and best practices for designing digital-first learning experiences.

  • Best practices when aligning learning and development to business objectives, and galvanizing a learning culture.

Summary

In a time where making decisions based on data is vital, the discussion around learning and development has shifted significantly toward improving data literacy and technical skills. Industry leaders from Bloomberg and NatWest Group shared their insights on the current status of upskilling, underscoring the need to align data skills with business objectives. The panel discussed the challenges and opportunities in shifting learning programs to a digital-first approach and the important role of subject matter expertise in utilizing technological advancements. They highlighted the need for a cultural change where data literacy becomes a part of organizational practices, supported by executive and managerial sponsorship.

Key Takeaways:

  • Improving data literacy can contribute significantly to business success and employee engagement.
  • Shifting to digital-first learning environments provides flexibility and accessibility.
  • Subject matter expertise is important in applying technical skills effectively.
  • Support from executives is vital for successful implementation of learning programs.
  • Interactive and experiential learning enhances engagement and retention.

Deep Dives

The Current Status of Upskilling in Data-Driven Environments

With the rapid advancement of technology, the skills gap continues to widen, necessitating a focus on upskilling, particularly in the area of data literacy. The World Economic Forum has reported that closing this gap could add trillions to the global GDP by 2030. Marcus Robertson from NatWest Group emphasized the importance of aligning data skills with business outcomes ...
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, stating, "It's not just about having technical skills; it's about solving business problems." The need for organizations to cultivate a culture of continuous learning and development is clear. This involves not only technical training but also enhancing employees' ability to translate business challenges into solutions based on data.

Shifting to a Digital-First Learning Environment

The shift to digital learning, accelerated by the COVID-19 pandemic, has brought about both challenges and opportunities. Kerry O'Sullivan from Bloomberg highlighted the importance of creating a structured and accessible learning environment that supports digital transformation. The transition involves rethinking traditional training methods and embracing interactive digital tools. As Shell Naik noted, "We had to reconsider our programs to be digital first, which involved moving all our materials online and creating more interactive sessions." This approach not only caters to remote learners but also utilizes technology to enhance learning outcomes.

The Role of Subject Matter Expertise in Learning Programs

While technical skills like Python and SQL are essential, their true value is realized when combined with subject matter expertise. Shell Naik from Bloomberg stressed, "Your subject matter expertise is what makes you unique. Technology should be a tool to enhance that expertise." By integrating expertise with technical skills, organizations can cultivate innovative solutions and insights. This approach encourages employees to apply their knowledge in practical scenarios, thus enhancing their learning experience and contributing to organizational goals.

Building a Culture of Data Literacy and Learning

Establishing a data-literate organization requires more than just technical training; it necessitates a cultural change. Marcus Robertson discussed the need for executive sponsorship and managerial support in driving learning initiatives. "Support from executives is critical in aligning learning objectives with business goals," he said. This support helps in creating a learning environment where data literacy is not just a skill but a part of the organizational culture. Interactive and experiential learning methods are emphasized to engage employees and encourage continuous development.

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