Storytelling is a centuries-old method to make humans understand themselves and the kind of world they live in. In the past few years, data storytelling has hit a new wave in the field of innovation and analytics for making good decisions in business. The quest to make the right decisions depends on the kind of information that we work upon. The real challenge lies in delivering the right kind of information at the right time.
Businesses need to capture the right information at the right time to make a perfect data story, helping them achieve business goals and also set a new trend of innovative techniques. Practicing storytelling is one of the most sought-after skills nowadays. Experts who know data storytelling can understand and translate data into meaningful insights, a crucial process in any decision-making. Moreover, the art also lies in connecting such relevant information to your audience, motivating them to act on the decisions.
The article explores what is data story and data storytelling. You will also get useful insights on creating a neat, clear, and precise narrative around your data. So let us begin.
What is a data story?
A data story is an insightful narrative around a dataset, providing broader implications. It is not about showcasing technical aspects of any data, but rather it focuses more on turning them into a qualitative analysis that reflects domain expertise and also meets with the business goal and objectives. It is beyond making those great charts and data presentations. At the core, data stories have three main elements: data, visuals, and narrative.
What is data storytelling?
A skill to design and create catchy and meaningful narratives by harnessing data, contextualizing it, and presenting it to the audience is called data storytelling. It takes a lot of data analysis, statistics, and wide research to craft an appealing data story. Another aspect called data visualization, contextual analysis, and presentation is also implemented here to create the best data story.
Data storytelling has been one of the most successful ways to create new knowledge based on data and thereby make decisions. It is an immersive practice incorporating knowledge and skills based on various disciplines. Many businesses practice this concept to address various kinds of challenges in their fields.
Importance of data storytelling
Data storytelling happens when you share the insights derived from patterns and collected information. For example, you can find out how effectively your new business strategies are working based on the fluctuations in the revenue from month to month. Like Kriya RevGen is a hotel revenue management system created by Softqube Technologies. Our data experts analyzed and perceived various nuances of revenue managment from the gathered sources of data, and each set of data empowered us to build great data stories. Every story created out of data can inspire change in the business and in the audience. It also simplifies complex ideas with seamless communication, helping stakeholders to make informed decisions.
Here are some of the topmost benefits that can be obtained from data storytelling techniques:
- It helps break complex data more understandable, giving audiences room to grasp the concepts easily
- Catchy narratives and appealing visuals keep the audience engaged, enhancing retention
- Data storytelling can help make informed decisions as they are based on evidence and research
- Stories create memories in the minds of...
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