The importance of data literacy for CFOs

One of the key challenges holding back current CFOs from adapting to future mindsets and skills is their lack of clear strategy for leading change. Many CFOs understand the need to change but lack data literacy, which hinders their ability to build a vision for finance and understand the fundamentals of data. They struggle with executing and delivering change due to a lack of knowledge on how to assess technology and select the right systems. To overcome this challenge, CFOs should prioritize data literacy and invest in upskilling themselves and their teams, starting with tools like Excel's Power Query for data preparation and automation.