Modern Data Literacy Program Design & Roadmap for a Financial Institution
GWI designed a modern data literacy program and roadmap for a financial institution, with the aim of helping them become a data-driven organisation.
Their vision is to be Australia’s bank of choice and they are committed to exceeding customers’ expectations on every occasion. They remain fiercely dedicated to maintaining the trust of customers and stakeholders, and to meeting industry regulations.
The organisation acknowledges the important role improved data literacy plays in achieving their vision and objectives. As a result, the bank engaged GWI to develop a data literacy framework to guide their data journey.
The context
Data Literacy Framework
According to Gartner, data literacy is “the ability to read, write and communicate data in context — with an understanding of the data sources and constructs, analytical methods and techniques applied — and the ability to describe the use-case application and resulting business value or outcome.”
Data literacy is highly relevant to every team member, regardless of their position. Staff were grouped into seven different personas ranging from Board Director to Customer Interaction Professionals.
To assess existing data literacy levels at the organisation, GWI developed a Data Literacy Assessment. The assessment results formed the basis for the organisational Data Literacy Framework, which provided the bank with a structured approach to developing a data literacy program tailored to specific persona groups.
The Data Literacy Framework outlines five data literacy categories and defines the target data literacy levels for each persona group across each of the categories.
This gives the organisation a clear idea of the current state of data literacy at the organisation and identifies the requirements to improve data literacy and support the achievement of their vision.
The method
Data Literacy Implementation Plan
GWI developed an Implementation Plan including a three-year Roadmap of activities to uplift data literacy capabilities across all persona groups.
The Plan includes data literacy training activities, uniquely tailored to each persona, that will empower them to reach the desired level of data capability.
Drawing on deep experience and industry best practices, GWI designed the Roadmap initiatives to embed and extend data skills among staff. It includes online courses as well as other practical and experiential opportunities to improve the use of, and trust in, data and insights.
The impact
What does success look like?
Through the successful implementation of the Data Literacy Program, staff will be empowered to uplift data capabilities and enhance the use of data in decision-making. The organisation will see an uplift in data quality and integrity, supported by consistent data governance and data management practices.
Through completing the Roadmap and training initiatives, staff have a clear understanding of data roles and responsibilities and will be able to communicate effectively with data to identify, manage and respond to risks if they arise. The increased use of data and analytics in decision-making enables improved customer, stakeholder and employee experiences and ensures ongoing compliance with regulatory requirements.
We are proud to have contributed to supporting the organisation in uplifting data capabilities and mitigating data-related risks. As the implementation of the program progresses, they will continue to reap the benefits of a data-literate workforce. They are empowered to achieve their vision of being Australia’s bank of choice and maintaining the trust of their valued customers.
Contact GWI to learn more about enhancing data literacy
Poor data literacy is ranked as the second-biggest internal roadblock to the success of the CDO’s office, according to the Gartner Annual Chief Data Officer Survey. Data literacy is integral to driving business value. Don’t let your organisation fall behind.
GWI’s unique experience in the Data Literacy space will guide your organisation on the journey to becoming a fully data-driven workforce. Get in touch today.
