A report from Multiverse, released on August 5, highlights significant productivity losses in businesses due to widespread data skills gaps. On average, employees lose roughly 25 working days per year on data-related tasks, with many lacking the fundamental skills needed for effective data use.
The report reveals that about half of workers struggle with data analysis, process automation, and forecasting. Euan Blair, founder and CEO of Multiverse, noted that employees often spend hours each week grappling with spreadsheets. The analysis, which included data from 12,000 employees across 18 industries in the U.S. and U.K., found that workers dedicate about 14.3 hours per week to data tasks, accounting for 36% of their workweek. However, 4.3 of these hours are spent unproductively due to skills deficiencies, wasting 10% of the workweek.
Despite the growing need for data literacy across all departments, only 39% of employers provide data training for all employees, according to a report by Forrester and Tableau. While 75% of leaders believe employees should learn data skills on the job, and 70% of employees are expected to use data by 2025, continuous upskilling remains limited. Barriers such as time, money, and lack of motivation contribute to this shortfall.
Looking ahead, executives are prioritizing upskilling in areas like cybersecurity, AI, and data training, as highlighted in a Skillsoft report. These focus areas align with positions where businesses face the most significant talent acquisition challenges.
