By Ricardo Rocha, Marketing & Communication Director of Noesis
Data Literacy is the ability to access, read, interpret and demonstrate identified insights, and then act and make decisions based on them. But why are data so important for the strategies developed by Marketing professionals?
Basically, because they are the essence of the decision-making process in this area, we live in the age of analytics, to the detriment of "guesswork" or intuition. No longer are campaigns made just because we think they will have an impact, because they are disruptive or 'out of the box'. Decisions are made based on data, and the strategies implemented must be measured and evaluated.
However, the scenario does not seem to be the most positive. We live in a context of data illiteracy since 60 to 73% of corporate data is not analyzed, and less than 10% of companies are considered data-centric.
If the world's largest companies and those with the highest revenues are focused on data, which means that there is a growing gap between the most sophisticated companies in terms of data analysis and the generality of organizations, but it also means that there is a great potential for evolution.
For this to happen, it is fundamental that companies train their professionals in this area, democratize access to data in organizations, and avoid data silos or leaving the subject 'in the hands' of departments A or B.
And at a time when there is a general boycott of third-party cookies, the solution to continue to have access to reliable information and data seems to lie in the appropriate treatment of those that companies already have in their possession but do not work correctly. In addition, it is necessary to create actual data ecosystems that can complement the organization's existing data, such as data from official entities, business partners, market data, and public information, among others.
Today, data is one of the most valuable assets of a company, and in most organizations, this awareness that data is critical to their future and to their ability to adapt to an increasingly competitive and changing market is starting to be a reality.