Corporations wish to be insights-driven, buyer obsessed, and future match. This journey consists of 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 corporations 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’re not shifting the needle on insights-driven choice making
In accordance with Forrester information, information and analytics decision-makers report they made 48% of enterprise selections based mostly on quantitative info and evaluation in 2022, inching backwards from 50% in 2021 and 49% in 2020. Moreover, the variety of companies reaching superior insights-driven maturity has stalled between 2019 and 2021. If elevated know-how spend and extra information literacy coaching isn’t shifting the needle on good move making, what is going to? It’s time to rethink our folks, processes, and practices so enterprise groups can understand their full insights-driven decision-making potential.

Take an employee-first view of information literacy

Let’s look to the sphere 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 wherein one realizes their full potential to carry out artistic actions and significant pondering, they need to first fulfill a collection of primary wants, equivalent to shelter, meals, and safety. The absence or uncertainty of those primary wants over an prolonged interval disables a person from reaching & sustaining their full potential. One can’t attain the highest of the ladder and understand their full potential at work, if the decrease rungs, the extra primary 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 staff fulfill earlier than it will possibly understand its full decision-making potential? We invite you to affix us on December 6-7, 2022 for this 12 months’s Knowledge Technique & Insights Discussion board the place we’ll introduce the Determinants of Knowledge Literacy (DoDL), an employee-first view on bettering their insights-driven choice potential.

(coauthored with Analysis Affiliate Evan Megan)