How Data Education is Driving the Potential Value of Corporate Analytics

Does educating workers in how to wield data and analytics make that much of a difference in the effects of analytical models and data-driven conclusions? TLDR: YES.

About 77% of top organizations consider data analytics to be a critical factor in their growth and success. For the benefits of data analytics to be maximized for an organization, work must be done using analytics in, and communicated across, all parts of the business. Not only does company-wide data education lower operational costs and save resources, but it has essential worth in improving any work done with data. With decisions increasingly becoming based in data, every team needs to have a deep understanding of what data is needed, being used, and how to reach goals with it as a tool.

When it comes to data transactions, knowing where and how to buy/sell data is a make-or-break factor in whether the data used/provided will be useful and if the analytical models produced have any merit or target the need they were built for. Among the many benefits of data training, educating employees in this area lowers the risk of failures (both short- and long-term) across projects or the entire company, improves performance and efficiency, and leads to faster and better decision making.

Effective data training is equivalent to the difference between handing a paintbrush to a toddler or Van Gogh – one can use it blindly while the other can create intricate things while deeply understanding the tool and process, giving the final product meaning and use. If workers aren’t educated in how to use that data where and how it will be most effective, it serves no purpose. Successful and innovative businesses of today and the future are batch training employees in handling data to capitalize upon this competitive advantage.