Data literacy is quickly going from buzzword and fad to a necessary part of business.
More and more businesses are relying on data to make major strategic decisions. You may think that big data is just for big corporations. You can’t be more wrong about that.
Companies of all sizes can use data literacy to understand consumer trends, analyze marketing efforts and, get the most out of their employees.
Would you like to know more about data literacy and how it can transform your business? Keep reading to find out.
What is Data Literacy?
For businesses, the definition of data literacy is the ability to collect and understand data that you’re collecting.
People are bombarded with millions of data points. Yet, many people don’t know what those numbers actually mean. When you’re data literate, you know what the most important metrics are and which ones aren’t.
Reasons to Adopt Data Literacy
Having a company culture that thrives with data literacy requires buy-in across your company. When you’re explaining the benefits of data literacy, you can use these reasons below.
1. Improve Marketing Efforts
Do you do marketing based on your ‘gut feeling?’ How does that work for you? Odds are, you get some things right and some things are way off target.
Data literacy gives you the data that you need to improve your marketing efforts. For example, you’re running a campaign driving traffic to a landing page. You look at the data and see that you’re getting a lot of traffic, but it’s not converting. You can then assume that you need to tweak your landing page to improve conversions.
2. Make Better Decisions to Beat Your Competition
Business is a highly competitive and sometimes cutthroat environment. You can leverage data literacy to beat your competition because you’re making smarter decisions.
When you have a data literate culture, your employees are empowered to make decisions based on numbers and statistics. They’re making smarter decisions and doing things faster. That will help your business outsmart the competition.
Airbnb was an early adopter of data literacy and it helped the company win in a very competitive environment. This article explains the full story of Airbnb’s success, check it out.
3. Take the Long-Term Approach to Your Business
Too many business owners are burned out because they spend their days reacting to situations and putting out fires.
Data literacy gives your company the space to make long-term strategic decisions across departments. With the data you collect, you can look beyond one particular moment and see patterns that happen over many months.
Data Literacy Can Help Your Business
Businesses are challenged to squeeze every penny out of their operating budgets to increase profitability. The way to do that isn’t just doing more with less, but it’s by being smarter with your decisions.
What data literacy does is that you can make much better decisions because you understand the meaning of the data. You know how to go beyond the surface of the numbers, and you look at the deeper meaning of it.
That allows you to make better decisions across all departments, from accounting to warehousing. Would you like more great business tips? Check out this article to deliver better customer service.
Data literacy is quickly going from buzzword and fad to a necessary part of business.
More and more businesses are relying on data to make major strategic decisions. You may think that big data is just for big corporations. You can’t be more wrong about that.
Companies of all sizes can use data literacy to understand consumer trends, analyze marketing efforts and, get the most out of their employees.
Would you like to know more about data literacy and how it can transform your business? Keep reading to find out.
For businesses, the definition of data literacy is the ability to collect and understand data that you’re collecting.
People are bombarded with millions of data points. Yet, many people don’t know what those numbers actually mean. When you’re data literate, you know what the most important metrics are and which ones aren’t.
Having a company culture that thrives with data literacy requires buy-in across your company. When you’re explaining the benefits of data literacy, you can use these reasons below.
Do you do marketing based on your ‘gut feeling?’ How does that work for you? Odds are, you get some things right and some things are way off target.
Data literacy gives you the data that you need to improve your marketing efforts. For example, you’re running a campaign driving traffic to a landing page. You look at the data and see that you’re getting a lot of traffic, but it’s not converting. You can then assume that you need to tweak your landing page to improve conversions.
Business is a highly competitive and sometimes cutthroat environment. You can leverage data literacy to beat your competition because you’re making smarter decisions.
When you have a data literate culture, your employees are empowered to make decisions based on numbers and statistics. They’re making smarter decisions and doing things faster. That will help your business outsmart the competition.
Airbnb was an early adopter of data literacy and it helped the company win in a very competitive environment. This article explains the full story of Airbnb’s success, check it out.
Too many business owners are burned out because they spend their days reacting to situations and putting out fires.
Data literacy gives your company the space to make long-term strategic decisions across departments. With the data you collect, you can look beyond one particular moment and see patterns that happen over many months.
Businesses are challenged to squeeze every penny out of their operating budgets to increase profitability. The way to do that isn’t just doing more with less, but it’s by being smarter with your decisions.
What data literacy does is that you can make much better decisions because you understand the meaning of the data. You know how to go beyond the surface of the numbers, and you look at the deeper meaning of it.
That allows you to make better decisions across all departments, from accounting to warehousing. Would you like more great business tips? Check out this article to deliver better customer service.
