The Learning Leader's Guide to Data Fluency

WebinarNovember 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 people, 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 fluent organization and address all the key data fluency competency areas they should look to foster. We will also break down crucial data roles L&D teams should look to cultivate and upskill and provide actionable steps to start your data analytics learning and development journey.

Key Takeaways:

What are the key data fluency competency areas found within every data-driven organization?
What are the data roles L&D leaders should cultivate and upskill to drive organizational growth?
Actionable steps to scale your data analytics L&D program

Summary

In the quickly changing environment of technology and business, data fluency has become a vital skill for organizations seeking to maintain a competitive advantage. As digital technologies keep disrupting traditional business models, the ability to use data for strategic insights has become a necessity. This webinar explores how learning and development (L&D) can act as a catalyst for increasing organizational data maturity. Focus areas include the importance of creating a data-driven culture, identifying core data fluency competencies, and implementing effective upskilling programs to fill existing skill gaps. Industry examples demonstrate how successful organizations use these strategies to improve performance and drive innovation. As Adele Nehme states, "Data culture isn't an option to succeed in data analytics initiatives. It is business critical." The session also stresses the need for executive support and a strategic approach to L&D that aligns with business objectives, ensuring a high return on investment and enhanced employee engagement.

Key Takeaways:

Data fluency is vital for organizational competitiveness in the digital age.
Learning and development can significantly enhance data maturity and skill sets.
Executive support is vital for successful data upskilling initiatives.
Personalized learning paths designed for different roles can optimize training outcomes.
Creating a data culture is critical for effectively using data-driven insights.

Deep Dives

Importance of Becoming Data-Driven

The transformation into a data-driven organization is no longer optional. In the face of ...
Read More

rapid technological advancements, companies must integrate data into their core strategies to remain competitive. Over the past two decades, industries such as finance, retail, and transportation have witnessed significant disruptions driven by data-centric startups like Uber and Amazon. These companies have successfully used data to innovate, reach new markets, and improve service delivery. Consequently, traditional firms are investing heavily in data science and AI initiatives. A survey by Vantage Partners revealed that 99% of Fortune 500 executives are prioritizing these investments. However, the challenge remains in realizing tangible business outcomes, as only 29% have reported significant transformations. The key lies in creating a data-driven culture that permeates all levels of the organization, supported by a strong upskilling strategy.

Creating a Data Culture

Building a data culture is a fundamental step towards achieving organizational data fluency. This involves cultivating an environment where data literacy is valued and encouraged across all departments. A data culture ensures that data scientists are not the only ones equipped to handle data. As Suryamanthopan Mohan Chandralal, a regional chief data analytics officer, states, "Data culture is business critical." It requires a shift in mindset where data is seen as a strategic asset. Organizations need to invest in building data literacy among all employees, enabling them to understand and use data effectively in their roles. This not only empowers teams to make informed decisions but also enhances collaboration and innovation. A strong data culture is characterized by high levels of trust, transparency, and a continuous learning environment that supports data-driven decision-making.

Components of Organizational Data Fluency

Data fluency includes several key competency areas vital for any data-driven organization. These include data literacy, business analysis, data analysis, data science, statistics, machine learning, programming, and data engineering. Each area plays a unique role in building an organization's data capabilities. For instance, data literacy ensures that all employees can make data-driven decisions and communicate effectively with data professionals. Business analysis ties insights to actionable business outcomes, while data analysis involves extracting meaningful patterns from large datasets. Data science focuses on generating scalable insights using advanced techniques like machine learning. Programming and data engineering underpin these processes by enabling automation and efficient data infrastructure management. Understanding these competencies helps organizations design their upskilling programs to address specific skill gaps and create a well-rounded data-driven workforce.

Upskilling Strategies and ROI

Effective upskilling strategies are essential for building data fluency within an organization. Aligning learning goals with business objectives ensures that upskilling initiatives contribute to the organization's strategic priorities. L&D leaders should collaborate with functional heads to identify skill gaps and design personalized learning paths that cater to different roles and personas. This targeted approach not only enhances employee engagement but also ensures that learning programs are relevant and impactful. Organizations like Airbnb and Bloomberg have successfully implemented such strategies, resulting in increased data competency and business performance. Additionally, creating a culture of continuous learning and psychological safety encourages employees to embrace new skills without fear of failure. As Adele Nehme highlights, organizations that prioritize data upskilling report significant improvements in performance, emphasizing the value of investing in data literacy and fluency as a strategic priority.