Companies across Europe worry that their data usage is being held back by inadequate data literacy, bias and human error. 67% of business leaders, who responded to Dun & Bradstreet latest survey, said that professional development must be given to employees so that they understand data-driven decision making. Additionally, recruiting is key.
Difficulty finding the right talent has become a major stumbling block for over a quarter of organisations (27%) looking to improve data literacy, the survey found.
But recruitment is just one piece of the puzzle. “It’s vital not to overlook the existing workforce,” said Anthony Scriffignano, Senior Vice President and Chief Data Scientist, Dun & Bradstreet.
“Instituting continuous learning, through a combination of supervised and unsupervised methods, ensures that competences stay relevant,” said Rikard Candell, Analytics Director, Dun & Bradstreet Europe
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Three quarters (77%) of the surveyed business leaders voiced concerned that human biases are currently having a negative impact on the production, analysis and use of data in their business. When data projects are unsuccesful, 22% of the respondents attributed failure to human error in data management.
Professional development can help mitigate these risks. “Leaders are responsible for fostering an environment where people develop the habit of acquiring new skills, including the senior team themselves,” said Candell.
This survey of 1,704 business decision makers was conducted by Censuswide in August 2021. The respondents came from organisations based in the UK, Germany, Austria, Sweden, Switzerland, Norway, Denmark, Finland, Poland and Hungary.
Download the new report:The Future of Data – A dive into the power of data