August 5, 2022

The Power of Data Storytelling

In today’s growing world of data analytics, there is constant innovation. A big part of that innovation is from a tool known as data storytelling. As business intelligence progresses it now is capable enough to create compelling narratives for businesses, known as storytelling with data. These narratives are structured with compiled data and key insights. Data-driven storytelling plays a vital role in determining a business’s success. Therefore, it is important that storytelling adds significance and value to the meaning of your data. Previously, dashboards and data visualization were used to understand advanced business data. Now, with the combination of storytelling and business intelligence insights, storytelling with data can add context and drive business’s toward decisions and results.

What is data-driven storytelling?

Data stories describe how and why data will change over time. This is often through a series of linked visualizations. The delivery of business intelligence insights has evolved greatly. This is due to the concept of data storytelling. This business intelligence trend combines data visualization with narrative techniques. Your data can now tell a story that will drive your business toward new opportunities. Gartner claims that telling stories with data will be the most widespread means of consuming analytics by 2025. As a result, roughly 75% of data stories will be automatically generated using augmented AI and machine learning as opposed to data from analysts. 

How can we utilize data storytelling?

Data storytelling is not only successful with narratives. BI software must be built into the process to ensure effectiveness. Storytelling with data shows us the narrative building intelligence and analytics that BI holds. With this beneficial capability in hand, businesses can hone in on audience-specific information that will help target and segment. Therefore, it is important for business analysts to use a set of data to create insights. These insights will lead to narrative stories. In return, business decisions and goals can effectively be made and executed. 

To uncover the narrative behind your data, request a demo of ConverSight’s data storytelling platform and unlock the potential of your data!

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