Enable Better Decisions with Data Literacy

With all the data, analytics and AI, why isn't data science succeeding? See how embracing data literacy in this rapidly transforming world empowers better decisions.

Now more than ever, organizations strive to utilize data to be nimble, flexible and adapt with uncertain times. However, only 20% of enterprises have mastered the ability to turn data into insights to deliver business values. More than 52% of S&P 500 companies have gone extinct in last 15 years as their technology led “Digital Native” competitors have leveraged data to successfully displace them by disrupting the existing business model.

Despite having decades less of experience than their incumbent competitors, many ‘Digital Natives’ have a decisive competitive advantage: data is embedded into the fabric of their culture and business leaders have the analytical skillsets to collaborate closely with data scientists. They are Data Literate…all steps and constituents in the decision-making process are data aware and capable.

So how do incumbent companies respond? The right technology and tools are helpful but won’t do the trick alone. One approach is to put business leaders in the driver’s seat: get them involved in the data analysis while collaborating alongside data scientists throughout the decision-making process, to build solutions for sustained successes.

Herein lies the challenge: business leaders oftentimes expect results after sharing data with their team of data scientists, without informed ongoing dialogue about new discoveries. Data scientists, despite having the latest in-demand job of our times, are not magicians. Collaboration is a multi-directional street and without the skillsets, literacy and a culture built around data, a roadblock will cut team members off from each other. Data Science teams need to build business and communication skills. Business process teams need to elevate their data skillsets in order to interpret and discuss the data in a business context productively.

Cultivating data literacy by building experience and immediately applicable skills is critical to changing culture. How do business leaders, who may have never performed technical roles, develop the ability to productively engage in data science projects?

We will explore how to go about becoming data literate.

Gowri Selka is the former Head of Data Analytics and Corporate Technologies for Walgreens Boots Alliance, where she implemented integrated analytics platforms and led Walgreens' data strategy.
While Gowri led transformation programs, she experienced challenges in building a data literate workforce to implement turnkey solutions using emerging technologies. This challenge prompted Gowri to launch Volantsys Analytics, and her vision is to shift organizations to adopt emerging technologies to deliver business results through data and AI while up-skilling their workforce with data literacy and equip for future roles required in the ever-changing business environment. Gowri is Founder and Director of ChickTech Chicago-North. She is passionate about retaining women in the technology workforce and increasing the number of girls pursuing technology-based careers.

Roger Moore is a Lecturer at the University of Chicago where he teaches Leadership Skills in the Master of Science in Analytics Program. Most recently he was the VP, Analytics and Customer Operations at Entytle. Entytle provides a SaaS tool supporting customer installed base automated sales with AI and machine learning. Previously Roger was a Senior Director in the Chicago Office of Gartner where he was part of the leadership team for the Data and Analytics Practice. Roger has also worked at Sagence, Booz & Co, PwC, Diamond Management & Technology Partners and the Boston Consulting Group. Roger is active in the data, analytics and technology communities in the Chicago area. He attends and speaks at many MeetUps, roundtables and industry events.