The basic fact that data analytics generates rich information, is the reason why it is becoming more and more important in the market. The end goal is to take appropriate action based on the insights gathered. Business professionals who determine they must communicate difficult findings to completely comprehend the entire tale behind and ahead of the analysis are the primary necessity for this. This is when the real market gap appears.
The data is not just about the expression, or insights drawn from data analysis, but it also requires a clear and transparent representation of the same, hence the need for visualisation. To cover this aspect is where data storytelling pops in to cover this particular aspect of data analysis.
Crafting a compelling data narrative
Crafting a data story makes use of certain elements, all of which need to be strongly in place for an effective and impactful visualisation effect to take place. Some of these elements have been listed below:
- Characters– It is important to understand the customers who will be impacted by the setting, and the people who will be interpreting that scenario. Working along the lines of, identifying the key players in advance can be a great tactic.
- Setting– For a good narrative, you need the right environment, and the right stage to be set for the story to unfold. Therefore a lot goes into the background building of the story you will be working on. Visualisation in this regard can also show how the story progressed in that area over the speck of time.
- Conflict– In the middle of all the representation, it is crucial to focus on the target problem itself, to not lose sight of it. Therefore shedding some light on the same, and making it a part of your representation is also an important aspect.
- Resolution– What use is the listing of problems, if it doesn’t come attached with a solution? Working on the same, it is better to attach a solution to the problem statement as a concluding part of the storytelling.
Benefits of Data Storytelling
It’s better to learn about the benefits attached to something before you start working on something, it helps in better understanding of the expectations from the same. Some benefits of data storytelling have been listed below:
- Efficient Decision-making– With a better understanding of the business already covered by you, the next step as to what to follow would come effortlessly to you. With all the data present right in front of you, ready to be worked upon, you can keep going, with much more confidence and approach the same.
- Powerful Analysis– Everybody runs the risk of losing potential clients to competitors in a highly competitive market. Finding competitive data insights from your marketing and operations will help you stand out. You can utilise your internal data to create a narrative about the character of your business and its distinctive approaches, which you can then market as a way to help your target audience with their problems.
- Improved Client Engagement– To foster better connections and relationships with the clients, it is imperative to understand the client’s requirement, and position yourself accordingly. For building effective client communication with clients in every manner like compiling information into a presentation, data storytelling can save you when it comes to effectively conveying the results and demonstrating the value of your services.
- Enhanced Visual Appeal– Given that people tend to have shorter attention spans than they used to, data visualisations can be very helpful tools for conveying important information. The goal of using heat maps, graphs, charts, and other visual aids is to make the final product visually appealing to the user. Instead of merely seeing the raw data, clients want to hear the success story that led to the outcomes. When reporting to clients, combining facts, expertise, information, and insights in a visual manner can be quite beneficial.