12 May WHY DOES TELLING A STORY WITH YOUR DATA MATTERS?
Why does telling a story with your data matters? Explain the importance of accurate data in today’s business environment.
Data Storytelling: What It Is Why It Matters
Telling a compelling story with your data helps you get your point across effectively. Here are four tips to keep your data from getting lost in translation.
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Organizations can do a lot more with their data if they understand it better than they do. While businesses continue to invest dollars in business intelligence (BI) and analytics tools they aren’t necessarily getting the information they need to improve business decision-making.
Data visualizationshelp by transforming complex information into something easier to understand. However two people can interpret the same data visualization differently. Notably data visualizations tend to answer what questions but they don’t tend to explain the why or provide other contextual information. Data storytelling does exactly that.
Data storytelling weaves data and visualizations into a narrative tailored to a specific audience in order to convey credibility in the analytical approach confidence in the results and a compelling set of insights that is actionable to the audience. said Ryan Fuller general manager at Microsoft and former CEO and cofounder of enterprise analytics company VoloMetrix in an interview. The narrative is the key vehicle to convey insights and the visualizations are important proof points to back up the narrative.
Executives managers and employees have always told stories as part of their everyday work experience but they are increasingly being required to use data to support their points of view claims and recommendations. The danger of course is data can be tortured into saying almost anything.
One of the biggest mistakes is trying to fit the data to the story which often results in a jumbled narrative that doesn’t arrive at a compelling conclusion said Francois Ajenstat VP of product development at BI and analytics solution providerTableau in an interview. Always start with the data then build your story around it rather than vice versa.
After speaking with experts in data science and analytics we’ve developed the following four tips to help guide your data storytelling.
1. General Storytelling Rules Apply
Effective data storytelling is a lot like storytelling generally. The data story should have a beginning a middle and an end. It should also include a thesis (or a hypothesis) supporting facts (data) a logical structure and a compelling presentation. Yet all too often those responsible for analyzing data are unable to present it in a way that’s meaningful to the audience.
A common mistake is spending too much time on the technical aspect or methodology and not providing much creativity in pointing out how the data can help the business said David Liebskind VP of analytics at consumer financial services companySynchrony Financial in an interview. While data visualization tools are effective the human element to provide context interpret results and articulate insights and opportunities is a critical factor to influence key stakeholders and generate dialogue to drive strategic decisions.
[From fashion to food to healthcare IBM’s Watson has many guises across different industries. To learn more about them seeIBM Watson: Machine-of-All-Trades.]
Like good stories generally data stories should be designed to have an intended effect which may be to evoke emotion sway an opinion justify a course of action or inspire further exploration.
An effective story includes an engaging and timely message a point of view an attractive visualization and the right target audience said Zoher Karu VP of global customer optimization and data ateBay in an interview. Classic structures in storytelling include three distinct acts: finding the conflict adding the characters and calling out the drama. The most successful data storytellers find a way to use these acts for impact.
When it comes to data stories the conflict is the question the characters are the data and the drama is the relationships among the data and what the data is actually saying.
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Great storytelling should reveal truths which are hidden and not easy to interpret from just reading or browsing the data or through simply plotting said Vivian Zhang founder and CTO ofNYC Data Science Academy.
2. Consider the Audience
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