Decisions, decisions, decisions: the need for the right skills, tools and data

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The amount of data being created is skyrocketing and shows no signs of slowing. From 64.2 zettabytes of data being generated, captured, copied and consumed globally in 2020, the figure is expected to reach 180 zettabytes by 2025. 

It’s easy for organisations to become overwhelmed by the data deluge, but with the right data science and analytics tools employees can use the information being created to come up with important insights. Increasingly, individuals have a chance to demonstrate their grasp of data science and analytics before their careers have even begun. 

There is huge optimism that generative AI will help individuals transform data into impact. This is being reflected in the higher education space, with the online learning platform Coursera receiving 570,500 student enrolments for generative AI courses and projects last year.

Data has become fundamental in many ways – optimising processes, realising cost savings, reducing risk and more. As such, recruiters are increasingly seeking students who have the expertise to become the next data-driven decision-makers.

Enabling data-driven decisions

By itself, data doesn’t tell you much. But when it is collected, structured and analysed, it gives individuals access to the kind of information that transforms decisions into proactive, resolutions backed by facts and evidence. Recruiting and developing data-driven decision-makers is essential. Here’s how it can be achieved:

• Leverage the right skills. With data-driven decision-making becoming increasingly important, it is vital that students acquire the right skills. Some of the skills commonly seen among data-driven decision-makers include familiarity with statistics, data visualisation and information management capabilities. These can be acquired on a range of higher education courses, from statistics to data management.

  It’s also important for recruiters – in industry both and academia – to remember that the skills required of data-driven decision-makers can be found across the globe. Data is a universal language that transcends international borders. When looking for the next data-driven decision-maker, employers are likely to look beyond domestic markets.

• Leverage the right tools. Giving individuals access to the right solutions for collecting and analysing data is essential for the creation of data-driven decision-makers. Think carefully about your goals, your budget and the skills at your disposal. Then decide on the right tool for unlocking the best decisions.

  The rise in online learning has seen students play a key role in the digital transformation of higher education. They now frequently interact with statistics, dashboards and tables as part of their everyday learning, allowing them to demonstrate a comfort and familiarity with data to recruiters and employers. 

• Leverage the right data. Although a huge amount of data is available, not all of it will be useful. Assess the data at your disposal for accuracy, timeliness and relevance before you use it to inform your decisions. The best data-driven decision-makers will understand which data is useful and which is a distraction.

Data-driven organisations are 23 times more likely to acquire customers and 19 times more likely to be profitable. The most effective decision-makers are able to leverage data science and analytics to take their businesses to new heights. It’s essential we develop as many of them as possible.

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