Data literacy is critical in making informed business decisions, as it empowers individuals to interpret and analyze data effectively. A data-literate workforce can distill insights from complex data sets, leading to better strategies and outcomes. This skill allows teams to make decisions supported by empirical evidence rather than instincts or assumptions. Companies that prioritize data literacy can leverage analytics for forecasting, performance improvement, and market trend analysis. Ultimately, fostering a culture of data literacy can drive innovation and enhance a company's competitive advantage in the market.