Corporations need to be insights-driven, buyer obsessed, and future match. This journey contains investing in information literacy or spending on tech. In 2022, 75% of US enterprise decision-makers responded that they’re adopting enterprise-wide information literacy, and firms are projected to spend 4.7 trillion {dollars} on know-how globally. But when tech execs assume that these investments alone will enhance insights-driven choice making… assume once more!
We aren’t transferring the needle on insights-driven choice makingAccording to Forrester information, information and analytics decision-makers report they made 48% of enterprise selections based mostly on quantitative data and evaluation in 2022, inching backwards from 50% in 2021 and 49% in 2020. Moreover, the variety of corporations reaching superior insights-driven maturity has stalled between 2019 and 2021. If elevated know-how spend and extra information literacy coaching isn’t transferring the needle on smart move making, what is going to? It’s time to rethink our folks, processes, and practices so enterprise groups can notice their full insights-driven decision-making potential.
Take an employee-first view of information literacy
Let’s look to the sector of psychology for some inspiration. In 1943 Abraham Maslow first launched the Hierarchy of Wants. The idea means that earlier than folks can attain self-actualization, a state by which one realizes their full potential to carry out inventive actions and important considering, they have to first fulfill a collection of fundamental wants, corresponding to shelter, meals, and safety. The absence or uncertainty of those fundamental wants over an prolonged interval disables a person from reaching & sustaining their full potential. One can’t attain the highest of the ladder and notice their full potential at work, if the decrease rungs, the extra fundamental home-care wants, are lacking.
Let’s return to the world of information. Think about the highest of the ladder is superior insights-driven maturity as a substitute of self-actualization. Take into consideration your organization- if you wish to climb the ladder to a state of data-driven selections, what rungs should you scale first? What wants should your workforce fulfill earlier than it will possibly notice its full decision-making potential? We invite you to hitch us on December 6-7, 2022 for this yr’s Knowledge Technique & Insights Discussion board the place we are going to introduce the Determinants of Knowledge Literacy (DoDL), an employee-first view on enhancing their insights-driven choice potential.
(coauthored with Analysis Affiliate Evan Megan)
