Companies with mature data fluency competencies outperform competitors
Just as software engineering and the rise of developers drove growth and innovation over the past 20 years, DataCamp believes data fluency will be the big driver of growth over the next 20 years. According to the L&D leaders we surveyed, the perceived added value of data fluency spans all aspects of business, from providing competitive advantage and improving company performance, to improving individual productivity, increasing individual skill level, and automating processes.
And companies with mature data fluency competencies perceive even more added value in these areas than companies with immature data fluency. For example, 47% of companies with mature data fluency competencies see data fluency leading to improved innovation capabilities, versus just 18% of those with immature data fluency competencies.
« Those who have already invested see much more added value in providing a competitive advantage and improving innovation. »
Let’s evaluate the different outcomes for those who’ve already invested in data fluency versus those who have yet to invest. Are there any differences between how the two groups perceive the potential added value of data fluency?
Companies that have already invested in data fluency are seeing added value
We compared responses about the perceived added value of data fluency between companies already invested and those that have yet to invest. Those who already invested report having generated far more value in improving innovation capabilities, fostering employee engagement, increasing company performance, providing competitive advantage, and increasing individual skill levels than those yet to invest.
What companies that have already invested in data fluency will tell you
And that’s just the tip of the iceberg—there are so many opportunities that companies with immature data fluency may not even realize. For example, most companies recognize that data fluency can add value by automating processes and improving individual productivity, but those who have already invested see much more added value in providing a competitive advantage and improving innovation.