Companies with poor data literacy would find it hard to achieve competitive growth

New Ideas in MarketingEssential news for marketers, summarised by YouGov
November 29, 2019, 2:18 AM GMT+0

50% of brands do not have the required AI and data literacy skills to achieve business value in 2020.

As per Econsultancy’s 2019 Digital Trends report, data analytics has gone beyond being a preserve of just those at the “bleeding edge”. Data analytics is now prioritised by a majority of organisations instead.

The article shares that companies operating at a higher level of data literacy could enjoy 3 to 5% greater enterprise value. Further, it states that organisations with poor data literacy may not be able to achieve competitive growth.

The author makes a case about the importance of data literacy for companies. A Data Literacy Project found that companies with higher data literacy scores can observe their enterprise value go up significantly.

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