Data Storytelling: How to Use Data Insights and Analytics to Drive Decision Making

In today’s technology-centric world, data is all around us. Data has the power to help your organization see everything more clearly. By analyzing it effectively, data will tell you the progress of your objectives and can keep you focused on crushing your business goals. Your organization’s data is a crucial element of its identity and when used properly,  it can inform decision making and prove your organization’s value to others through meaningful results. That said, often times organizations only view their data as numbers on a page or spreadsheet instead of tapping into its insights to help others better understand and visualize your business’s story and impact. How does your organization view its data? Here are a few steps you can take to amplify its power and tell your story.

Identify your question. What question do you want your data to answer for you? Examples of questions may include: How do I focus on what is important to grow? How do I know when to hire? What products or services are generating money, which aren’t? Whatever question you choose, it’s important that it is specific as it will become your starting point for viewing your data from a different lens and driving your story. As you dive into your data, you may uncover more questions you want answered to shape your story.

Source your data. Where is your data coming from? The data source you pull from is the foundation for answering your question.

Analyze your data. Thoughtfully analyzing your data can be powerful, especially when the data not only tells your story but can show it. To get the most out of analyzing your data, try seeking similarities and differences amongst the data and make note of what elements stand out to you. The highlights you find will provide the template for your story.

Craft your story. After you have sourced and analyzed your data, it’s now time to shape a concise and coherent narrative around it. This narrative should be compelling and encourage your target audience to take action on something.

Visualize your data. Using data visualization tools such as dashboards can enhance your story and make it easier to understand. Not only does data visualization help enhance your data, but it also supports faster and more informed decision-making by centralizing insights in one place.

Dashboards make complex data easier to understand and pull insights from.

At BerganKDV, we help our clients tell their stories through our Business Intelligence and Analytics solution (BIA). Our BIA services help centralize your data and provide you with detailed intelligence about your current state of business to enable a clear view of reality through the use of tracking KPI and metrics, budgeting/ financial modeling, workforce planning, cash flow analysis and more. We equip your business with powerful data visualization tools so that you can act faster on your data than ever before.

Curious to learn more about how BerganKDV’s BIA solution can transform your business data and tell your story through actionable insights? Let’s talk!


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CATEGORIES: Accounting Services | Tech & Innovation | Uncategorized
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