There used to time when customer reviews used to be collected with the endless surveys, going door-to-door unwelcomed. Technology has developed and found data has been an easy task. Data of current and prospective customers run freely on the internet for us to grab and use. The act of finding, collecting, building knowledge, and deriving conclusions from these data is called data literacy. We may have come across this term numerous times but decided to ignore it. But its high time to know what exactly is the relevance of data literacy and what benefit can it provide to build our analytical skills.
Let’s start with understanding what data literacy is. As stated before data literacy, we make a thorough search, research, and conclusion of the data we find on the internet. The era where companies used to hire on the basis of mugged-up knowledge is long gone. Companies, today, require employees that have high knowledge in data science, statistical skills, data visualization, and the analytical ability to make appropriate decisions with the data collected. The task isn’t that simple as it seems though, simply collecting and making conclusions won’t do the job. It is a process of how you sort the actual data from the false ones, refine it, and can acquire as much information as possible that can prove beneficial to the company while developing an idea. This increases your value as an employee and knowledge as well.
As a business, why would you give importance to data literacy? Mainly because you will need data to make business decisions. The trend of running around to find customers to make a review or search for opinions is long gone. Customer purchase trends and/or those (prospectus) searching similar products like yours can be found on the internet. But in order to make your visibility, you will need the analysts to do the job. Hence your employees must comprise all those that can help you find data of customers and their preferences in order to plan and make decisions.
This area and relevance of data literacy are really wide and the opportunity lying within is worth grabbing. If you search in the right place you can find, learn, and improve your worth.
