– Shared language
The results explain why we should examine a given analysis. Specifically, what we are trying to achieve by measuring a given event. In the example of the smartwatch, the intended result of the “stand up” notification is to improve our overall health and well-being.
Personas are important in understanding who a signal or analysis is directed towards and what that person will do with the information once they have it. The persona gives us a view of how a person works, what tools they regularly use, and how they respond to or use information. A user who has easy access to a computer will need a different type of analysis than a person on the go who typically consumes information through a smartphone or tablet.
Finally, data literacy relies on a shared language. When a company discusses key KPIs or other data elements, they need to have a common way to communicate them effectively. This starts with ensuring that the right business processes and key stakeholders are engaged to develop this shared language and is usually driven by a data governance function.
Embracing data literacy creates a culture in which decisions are supported by various forms of data. If key business decisions are backed by data, more emphasis is placed on capturing and reporting on this information, allowing companies to leverage the data for additional purposes. This includes inputs into machine learning algorithms for improved predictions and augmented decision making.
This brings us to the value of data governance within your business. Data governance is often seen as a necessary compliance detail, but this is only true if governance is not treated as an enabling function within the business. When properly implemented, it serves as the single source of truth for all data-related questions, enabling a business to accelerate decision-making through accurate data.
Ensuring data governance is an enabler requires three key business drivers:
– A well-defined charter to ensure that people understand the role of the group/team
– A well-represented and engaged set of stakeholders who take responsibility for their data stewardship role
– Clearly defined processes and policies that address how data changes should be handled
Once the three business drivers are established, a company can begin to create a shared language and common understanding to support its data literacy efforts. This can include using data catalogs to facilitate a collaborative data environment and jump-start efforts to create a shared data language in your business.
Driving future innovations
Driving innovation in your business can take many forms. As more businesses turn to collecting, integrating, and enhancing data to gain competitive advantage, they must first establish a foundation on solid data governance principles. This foundation supports global data literacy and puts more emphasis on data-driven decision making, which in turn leads to better data to take advantage of advanced technologies such as machine learning. to increase and guide decisions in the future.