Ontario, Canada – September 10, 2022 – Sustainability of a business is largely determined by the company’s capability to arrive at strategic business decisions. And that calls for easily digestible data that can help businesses to glean insights for arriving at sound business decisions. Data stories play a major role here in communicating resourceful data to the decision-makers in a company to motivate them in taking the best strategic decisions.
Data stories play a key role in communicating vital data to decision-makers and persuade them to make the most of the stories for the business decisions. The person entrusted with the responsibility of communicating the data story to decision-makers need to have a solid expertise on data analytics. S/he can enroll into a course on data analytics to develop the skill of creating convincing data stories. Learn Data Analytics offers an industry-leading online trading course on data analytics that is designed to empower employees to enhance data analysis and also communication skills.
Data Stories defined
Put simply, there are 3 key aspects of data stories- data, narrative, and visuals. Data stories can be decoded as narrative-style descriptions on the process of data modification over time- as well as the reasons behind these modifications. The storytellers are usually advised to make generous use of visuals as any data is easier to grasp while represented visually than through mere text. Effective data visualization in a data story will enable recipients to glean insights from the story more effectively. Data storytellers must also be careful about framing the story in the most relevant context as well as highlighting the key-elements to make things easier to comprehend for decision-makers.
Significance of data stories
The fundamental purpose of data story is to provide a clearer idea of complicated raw data that will eventually help to arrive at effective business decisions faster. Narratives have always proven to be a useful tool to simplify complicated ideas or information – and modern data stories apply the same rule in the contemporary business scenario. Riding on the power of narratives, data stories help to present insights, context, and interpretation- the major elements that make data more resourceful, in comparison to mere dry statistics.
Guide to telling data story
Find an overarching frame
First, the storyteller needs to find out the type of story s/he wants to bring to the table with the available data.
To start with, the storyteller should ask questions about the things to be explained through the story. Once s/he has found the answer, the next step is to explore the data to get the answers. Then, the storyteller would try to define the goals for the data story.
According to LDA, one should try to cultivate the data to find a story that can precisely echo the insights the data wants to reveal. The tip is to find a strategic overarching theme for the story and form a structure. Here are the steps to help-
Customized for audience
The storyteller should also be careful about the audience. The story must be presented in a customized format, tailored as per the specific language of the audience.
Build the narrative – add visuals
The narrative must be accompanied by visuals. The story should also begin with a hook.
Findings for the last
The findings must be saved for the last. Storytellers should not reveal the findings at the start or middle as otherwise the audience would not want to read the whole story. Storytellers must not cherry-pick as well as should not attempt to manipulate the data. The conclusions must be derived from the data directly.
For more information, please visit https://learndataanalytics.ca/can-you-tell-a-story-with-data-heres-how-it-works
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