A step-by-step tutorial for data professionals
In my recent articles, I noted that a big challenge for a lot of firms today is the vast amount of accessible data and their limited ability to make use of it effectively in decision-making. The core of this problem is especially human-driven. Due to this fact, there’s a pressing need to construct data literacy. If firms genuinely aspire to profit from even a fraction of the information on the market, they have to elevate their overall competence with numbers.
88% of our potential audiences may struggle to read numbers, charts, or computations.
Based on a world literacy study, merely 12% of adults worldwide are numerically literate. In theory it implies that 88% of our potential audiences may struggle to read numbers, charts, or computations.¹ That starkly contrasts the world’s literacy rate, which is currently over 86%.²
Remarkably, many societies overlook this issue. What’s more, quite a few individuals take pride of their innumeracy.³ Have you ever ever heard excuses like:
- I’m not a numbers person.
- Statistics have never intrigued me.
- Physics looks like sorcery to me.
Or the “ultimate” one:
- I’m more of a humanist.
Often, it isn’t a matter of lacking ability but as an alternative not having the suitable tools. Consider this scenario:
We’re attempting to cross the road. We observe traffic approaching from each directions. We must judge if there’s sufficient time for us to cross safely. And that automobile in the gap? How quickly is it moving? Is its speed increasing? Decreasing? Has the motive force noticed us?
In point of fact, crossing the road presents a posh probability challenge. Yet, we navigate it every day, often multiple times, and typically get it right.⁴
That’s just scratching the surface.
Take into consideration driving a automobile at 60 mph. What number of aspects come into play? When…