Storytelling is a robust feature that can inspire, engage and convert a statistical report into a compelling narrative that your audience will enjoy reading. When your target audience gets to read and grasp the content outlined in the story, it increases the chances of your business’s success in the future. When dealing with complex data variables, you need to get an awesome approach that will enhance the rate at which readers can understand the displayed information.
Establishing a centralized data approach within your business environment and outlining it logically gives you an added advantage in increasing your chances of emerging at the top of your business niche. Remember that the business industry is fully crowded, and you need a unique approach to make you stand out from the rest.
This article accentuates storytelling with data examples and everything you need to know regarding data storytelling.
What is Data Storytelling?
Data storytelling is the approach to communicating essential data insights in a comprehensive and easy-to-understand manner. Using this approach requires you to utilize a wide mix of narratives and visualizations that can place your data into a crucial context that readers can use in making strategic decisions that impact their growth. The power of data lies in your story narratives and visuals to ensure that everything has been broken down into its smaller version.
In addition, you need the right tools and strategies to make every data bit more engaging and unique. When you have the right tools at your disposal, it’s pretty easy to analyze quantitative metrics and arrange them into a logical order that readers will enjoy reading and get the point delivered home. This is a clear indication that data storytelling
incorporates a series of elements which includes visuals, data, and narratives.
If you want to build a stunning data story, capitalize on the three aspects outlined above. This is where data visualization gives a visual touch that makes it easy for readers to visualize the presented information in different contexts. Remember that data storytelling aims to convert complex data into a simple version that can be easily read and understood.
Importances of Data Storytelling
Narratives are crucial in ensuring that everything within our surroundings has a significant meaning that the audience can apply in their daily lives. The same aspect is applied to data storytelling. According to research, using data and visuals increases the engagement rate by approximately 34%. This means that using this strategy increases your chances of business success and guarantees long-term results.
Understanding how to tell data stories comes with multiple benefits crucial to your business’s success. Below are the benefits accompanied by telling data stories.
Improved Decision Making
By telling compelling data stories through your dashboard, you can impact the general decision-making process across the entire business environment. Suppose your audience can follow a particular narrative keenly and extract the important information. In that case, it becomes an added advantage since you can easily communicate essential information, and your audience takes the required action in implementing them.
Remember that improved decision-making has a huge impact on the success of your business. You need to ensure that your audience has the right information to propel and back up their decisions.
When creating data stories, you need to tailor your general data presentation to your respective target audience. This will automatically improve the rate at which actions are being taken within the business, thus increasing actionable results that impact your business growth. All you have to do is to ensure that your readers are inspired by whatever you are presenting to them.
For instance, if your data presentation is focused on the internal environment, your team members will likely formulate an approach or initiative to elevate the company’s marketing efforts.
Narratives enable readers to generate meaning from everything around them. Utilizing the right tools to measure, track and execute data variables will enhance the availability of all the analytical information accessible across all the essential entities. This will allow you to share your data stories in an inspiring and encouraging manner, thus enhancing your business brand’s well-being.
Examples of Visual Data-Driven Storytelling
Storytelling with data is an important element that you need to master in how it operates. Below are the top examples of visual data-driven storytelling.
Creation of Business KPIs for an In-depth View
Data storytelling offers a centralized view of things, especially when outlining the KPIs of a particular business. Identifying the business KPIs is not easy unless they have been outlined in a simple manner. To outline them in an easy-to-read way, you need to incorporate the aspect of data storytelling to help your audience point out the most crucial aspects that revolve around your business operations.
Note that the KPIs change from one industry to the next depending on the field of specialization. Data storytelling aids in uncovering essential metrics such as the compliance rate KPI in a distinctive way that aids the business stakeholders in identifying the main areas of focus.
Offers a Centralized View With Dashboards
Dashboards are the visual analytical tools within a business setting to communicate essential information about what is happening within the business. They indicate the most important metrics to analyze the performance of the business and the route to which the business is heading. Thanks to data storytelling, it conveys information in an easy-to-read and understandable manner, helping the respective business authority identify the way forward.
Provided you have access to the right tools, it becomes pretty easy to navigate a business dashboard of any kind and tell interactive stories your audience wants to hear. The stories used in this scenario are mainly tailored to enhance the business performance and analyze the general performance of your team members.
Analyzing Sales Performance
The sales team’s performance has a huge impact on the general success of your business. This is where you should channel all your focus to ensure everything is running in the right direction. Besides, you must let your team members understand the milestones they have attained within a particular duration. To ensure that everybody understands your message, you must incorporate a visual touch into your data report to make it interesting and unique.
The report will help the respective team members to understand the areas of weakness and strength. This means that they can easily identify the areas in which they can capitalize on and enhance the business’s general performance. This can only happen if you generate a clear picture of what is happening within your business and let your team members understand.
Data storytelling has greatly changed the trajectory of data visualization. Currently, you can rely on storytelling to deliver important messages to your market audience in the best way possible. In addition, you can utilize this methodology to break down complex data variables into a simplified format that your readers can grasp without experiencing any difficulties.