How L&D Leaders are Shaping Data Literate Workforces

WebinarDecember 2021

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, organizations of all types are looking at learning and development as a significant lever for growth.

As organizations look to foster the future of skills of their workforce, data skills stand out as the differentiator between organizations that will lead in the digital revolution and those that will lag behind. In this webinar, we’ll describe what is a data-literate organization and address all the key data literacy competency areas and roles they should look to foster. Moreover, we’ll deep-dive into learning on DataCamp, and how Degreed customers can create a data-literate workforce with DataCamp training.

Key Takeaways:

Key data literacy competency areas and learning personas found in every data-driven organization
Examples of successful data literacy upskilling programs in action from a variety of industries such as insurance, banking, financial services, and more.
Creating a data-literate workforce for Degreed customers with DataCamp training

Summary

In today's rapidly evolving digital environment, it's evident that organizations need to cultivate data literacy throughout their workforce. As industries become more digitized, data generation has increased, presenting challenges and opportunities for businesses. Companies that excel in data literacy, such as Netflix and Spotify, use data-driven insights to innovate and lead in their respective fields. The importance of building data literacy in organizations is highlighted by recent surveys which suggest that while many companies invest in data initiatives, few achieve transformational outcomes due to cultural and skill gaps. The webinar discusses practical steps for L&D leaders to implement effective data literacy programs, emphasizing the importance of aligning learning goals with business objectives, creating a learning culture, and employing various educational methods. Additionally, the webinar explores the partnership between DataCamp and DeGreed, which provides comprehensive training resources to improve data skills within organizations.

Key Takeaways:

Data literacy is vital for organizational success in the digital age.
Align learning objectives with business goals for effective upskilling.
Create a collaborative learning culture suited to organizational needs.
Use various learning methods to accommodate different learning styles.
Support from executives is essential for successful data literacy program implementation.

Deep Dives

The Importance of Data Literacy

With digital transformation speeding up across industries, the ability to understand and us ...
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e data effectively is becoming a key differentiator for businesses. Companies like Netflix and Spotify illustrate how data literacy can stimulate innovation and maintain a competitive advantage. For instance, Netflix's use of data to customize content recommendations and marketing strategies demonstrates the power of data-driven decision-making. As Adele from DataCamp pointed out, "Data literate companies are winning in every industry." The ability to leverage data insights allows organizations to optimize operations, predict consumer behavior, and develop new products and services, emphasizing the need for widespread data literacy.

Aligning Learning and Business Goals

One of the most effective strategies for developing data literacy within an organization is aligning learning objectives with overarching business goals. This approach ensures that upskilling initiatives are directly tied to measurable business outcomes. For example, AXA XL's focus on providing employees with natural language processing skills to improve risk assessment processes is a clear example of the effectiveness of goal-oriented learning. By working backwards from a specific business objective, organizations can create targeted learning paths that not only close skill gaps but also drive tangible improvements in performance and efficiency.

Creating a Learning Culture

Establishing a culture that embraces continuous learning is essential for scaling data literacy programs. This entails promoting collaborative and engaging learning experiences that resonate with the organization's DNA. Methods such as hackathons, lunch-and-learns, and tech talks can make learning more interactive and enjoyable. Moreover, experimenting with different learning methods, including self-led, blended, and instructor-led formats, can cater to diverse preferences and enhance the overall learning experience. As highlighted in the webinar, the success of AI Singapore in upskilling a broad segment of the population highlights the importance of a diverse approach to learning.

Executive Support and Measurement of Success

Securing executive support is vital for the successful implementation of data literacy programs. Leadership support not only validates the initiative but also ensures that learning is integrated into the organizational strategy. The commitment from the top can inspire middle managers and employees to prioritize learning and development. Additionally, measuring the success of these initiatives requires creativity and collaboration. As seen in the Bloomberg example, innovative metrics such as tracking the increased use of internal data platforms post-training can provide insights into the effectiveness of data literacy programs. This approach not only measures skill acquisition but also links it to broader organizational performance.