When it comes to analytics, dashboards have historically been the simplest way to convey and absorb data. Everyday mass amounts of data is processed into reports and dashboards – but how much of this data translates into impactful insights or valuable outcomes? According to a recent report by Exasol “52% of business leaders and data professionals say dashboards are being disregarded because they’re not getting the message across”.
Dashboards and reports are helpful, but alone, they do not enable data-driven decisions at the speed and scale that are often required for business agility and growth. Therefore, business leaders are turning towards alternatives towards modes of data delivery that are more personalized, automated and contextualized.
Data is the most valuable asset businesses possess, which is why the critical shift away from stale dashboards toward methods of vivid data consumption is more important than ever – So what is the best way to convey data’s valuable information if dashboards are ineffective? – Data Storytelling
What is Data Storytelling?
Data storytelling is when a narrative is built around a set or sets of data and its accompanying visualizations in order to present the meaning of that data in the most effective, personalized and efficient form possible. As an upgrade from routine, high maintenance dashboards, data storytelling surfaces the need-to-know insights unique to the user to intricately display patterns and deliver information in the exact way the audience or user requires. According to a recent Gartnerreport, “data stories will be the most widespread way of consuming analytics by 2025”.
Benefits of Data Storytelling
- Allows decision makers to make decisions faster with more direct and personalized insight than ever before
- Delivers an intuitive understanding of data, delivering depth that dashboards can’t.
- Communicate the value that is in your data in simplified and efficient ways (text, audio or visual- providing interpretations you may have never considered before.
- Creates a level of transparency and accountability to the key metrics and performance of an organization that may have previously been hidden or overlooked by layers of dashboards
- Data is presented in a tactical, consistently moving manner compared to static never-changing charts or images