Are personal skills of a person more valuable or his/her educational background? Does it matter the industry?

Knowledge is authority (natural authority) and personal skills, especially in the Soft Skills sector are most important. The educational background is important but, the background means nothing if the foundation isn't the knowledge. Visiting the school or uni makes sense just if you walk there to collect knowledge. Be on the uni just to be there and to take the diploma means nothing if you don't collect the kniowledge!

From my experience it is usually your experience and personal skills that employers look for. Having a degree from a reputable institute is a bonus.