5 Essential Skills to Thrive in the Digital Economy

Technology is advancing rapidly, transforming the way we live and work. Today’s digital economy is replacing manual processes with digital ones. The way companies do business and the products and services we’re buying and using are shifting. Having the right skill set to continuously adapt to the digital economy is essential.

Technology isn’t just for engineers and coders anymore. In fact, studies have found that around 92% of jobs in the US require digital skills. However, The National Skills Coalition has found that one-third of workers don’t have enough foundational digital skills to thrive in today’s market. No matter the industry or occupation, there are essential skills that can help you thrive in the digital economy.

Digital Literacy

Digital literacy is the ability to use technology to achieve your goals. This could include navigating spreadsheets, managing social media, or understanding algorithms – it depends on your role. To be digitally literate, you should be able to confidently and creatively use technology to function in a digital economy.

How to Acquire Digital Literacy:

• Online Courses – Udemy, Coursera, and edX are different platforms that offer a variety of courses for all skill levels. Here is a list of 30 relevant platforms for today’s digital economy you can try.
• Bootcamps – Bootcamps are an immersive way to acquire digital literacy essential skills, typically with other learners. Universities often host bootcamps throughout the year.
• Self-Learning – A free and flexible way to acquire digital skills is by learning them yourself. There are plenty of resources online, such as podcasts, videos, tutorials, webinars, and eBooks.

Data Analytics

Data floods our world. It can be hugely insightful in today’s digital economy and the workplace, from tracking company growth to reducing costs. The problem is this data is often in different formats on different platforms, and these numbers are useless unless you know how to interpret and use them. Data analytics skills help you identify trends and patterns and use this information to make informed decisions.

How to Acquire Data Analytics:

• Formal Education – Universities and colleges are the traditional way to gain essential skills. They offer courses, diplomas, and degrees in data analytics varying in specialization levels.
• Certification Programs – You can complete online and in-person certification programs to master these skills. Coursera has a useful list of six popular data analytics courses.
• Industry Training – As there are so many different formats and platforms in today’s digital economy, receiving on-the-job data analytics training is also useful.

Soft Skills

You must be prepared to adapt and evolve to survive in today’s digital economy. This means that communication, teamwork, problem-solving, and empathy are essential skills. In fact, LinkedIn found that 92% of talent acquisition professionals value soft skills as much as hard.

Because of the way the workplace is rapidly shifting, soft skills are more important than ever. Employers want adaptable employees who can think on their feet and communicate effectively with teams in person and online.

How to Acquire Soft Skills:

• Workshops – Soft skills are something you can develop or strengthen through training. Some employers offer such workshops, and others are online.
• Networking – Social interactions, particularly professional networking at events and seminars, are a great way to practice soft skills.
• Mentorship – Mentors can guide your soft skills development through feedback and advice. These can be professional or personal role models.

Cybersecurity Awareness

With the digital economy comes growing cybersecurity concerns. Research shows that over 80% of US companies have experienced some type of cybersecurity attack. Most of what we do and share at work is online, using platforms like Microsoft Teams, Google Drive, and Dropbox. Cybersecurity awareness helps to protect your individual and the organization’s data. You need to know what you can and cannot do online, what the risks are, and how to identify them.

How to Acquire Cybersecurity Awareness:

• Online Courses – Online courses are a great way to acquire cybersecurity skills. Here is a list of free and paid courses you could try.
• Webinars/Seminars – Experts across different industries often conduct online webinars and seminars to share tips about cybersecurity. Scan social media for posts from industry leaders.
• Workplace Training – It’s likely that the company you work for will provide training so that you’re familiar with their unique security processes.

Specialized Skills in Emerging Technologies

Emerging technologies in today’s digital economy are helping companies solve problems, scale on demand, and be more adaptable and resilient. Having specialized skills in emerging technologies like AI, the Internet of Things (IoT), or machine learning can help you outshine other candidates.

Companies are struggling to find talent, but it’s not due to a shortage of people – it’s due to a shortage of essential skills. Niche specialties make you desirable top talent and give you a competitive edge.

How to Acquire Specialized Skills in Emerging Technology:

• Formal Education – Just like data analytics, educational institutions offer courses to specialize in emerging technologies and related essential skills.
• Online Courses – You can find niche skills courses online. Because these technologies are only emerging, employers may value these as much as formal education.
• Self-Learning – Many of these technologies are frequently changing. You can keep your skills up-to-date and stay well-versed by following online conversations, watching videos, and reading industry news.

Final Comments

Every job, business, and industry is impacted by the digital economy, and the advancement of technology isn’t slowing down. One thing that’s clear is that we need to take a holistic approach and focus on continuous learning.

As a member of today’s workforce, there are essential skills you need to thrive in the digital economy. Prioritize acquiring skills in digital literacy, data analytics, soft skills, cybersecurity awareness, and specialized skills in emerging technologies. Technology can seem overwhelming, but life will be much easier if we learn to embrace and work with it.