Automation is increasing the adoption of data storytelling for data-driven decision making
Data and analytics leaders are increasingly using automated data storytelling to display insights and make integral decisions for businesses. Automated data storytelling is when a narrative is immediately built around a set or sets of data and its accompanying visualizations, by the enablement of advanced artificial intelligence instead of a data analyst, in order to present the meaning of that data in the most effective and efficient form possible. By definition, data stories are meant to be shared, and by doing so, have positive impacts in an organization by tenfold.
The impact on collaboration
Collaboration is an important ingredient for businesses with distributed teams and data. According to recent research, collaboration speeds up the decision making process by 47% – directly leading to an increase in outcomes and revenue. In fact, according to the same researchdone by the Aberdeen Group “companies that encourage analytical collaborationexperience an average of 18% in revenue growth and 5% higher operating profits.” With the emphasis oncreating more efficient avenues to sharing data and insights, businesses should prioritize solutions that provide the most simplicity and control to unlock the power of their data.
What it means for your business
When you are in a meeting with fellow colleagues that oversee different departments, every person brings ideas that are diversely important to the discussion as well as to the overall strategy of the company. Using advanced analytics to enhance collaboration among groups increases user autonomy, community collaboration and business resilience. Collaborative data storytelling improves operations within your company to enable faster decision making, greater revenues, and increased employee input and satisfaction.