In my time as a financial analyst, I spent many hours poring over financial data and encountered many roadblocks to representing my conclusions effectively. Many of these internal stories go untold, but today I thought: what better way to debut on the Qlik Blog than to tell a story of how some of these roadblocks can occur, and how to deal with them.
Let’s meet Sophia, who is a manager at a fast growing company. She is about to present to the senior board on why they should continue to ship Fresh Vegetables. Sophia is smart and a mover within the organization, but she struggles when presenting her ideas. She also has a hard time convincing stakeholders without getting off-track during the discussion. She knows her analysis is solid, but she needs an easier and more convincing presentation. Especially because Mike, a senior manager, always asks questions that derail the meeting, and it’s hard to have the analysis ready to answer his ad-hoc questions. Sophia heard about a new trend around data storytelling, and decided to do some homework. She came across some interesting facts written by Jennifer Aaker, Professor at the Stanford Graduate School of Business:
- "Stories are remembered up to 22 times more than facts alone." Harnessing the Power of Stories
- "Only one in 10 students used a story within his or her pitch while the others stuck to more traditional pitch elements, such as facts and figures. The professor then asked the class to write down everything they remembered about each pitch: 5 percent of students cited a statistic, but a whopping 63 percent remembered the story." Science of Storytelling: Why and How to Use it in Your Marketing
Typically, questions are asked and more meetings are needed since the analysis can’t be done during the meeting. Nobody wants to see long email chains get started either. Instead of thinking about how to use her analysis to augment the story and engage the audience, Sophia had been spending way too much time on elaborate slides that really didn’t help the outcome of the meeting.
What if she could weave her analysis into the presentation? What if people like Mike could ask ad-hoc questions that can be answered on the spot to eliminate the need for another meeting? What if a new, different conclusion is gathered during the meeting and you could easily integrate it for the future?
Sophia decided to try that approach for the upcoming Fresh Vegetable meeting. She knew intuitively that the more engaged the audience is, the more likely they will retain that information. There was also a higher probability that a decision will be made.
She downloaded the free version of Qlik Sense to see if data storytelling is the answer. Qlik Sense makes it easy to ask the next question and get the answer on-the-spot using Data Storytelling. Sophia combined her analysis with the slides and quickly sees the power of this combination at her next meeting.
Using Qlik Sense Data Storytelling, the focus was shifted to the data analysis, and not the beautification of the slides. It was easy to take snapshots of charts and it was super convenient to have them accessible in a library to tell her story. She loved when Mike asked a question because it was natural to jump back into the analysis for the answer. When they would find another interesting insight, she would easily take a snapshot of the analysis to re-use it in the future.
As a result of the meeting, a decision was made to continue to ship Fresh Vegetables and people complimented Sophia on how great it was to interact with the data and in turn, answer ad-hoc questions on the spot. Even Mike asked her how she did it so he can use it in his next meeting.
Now the question is: why haven’t you downloaded Qlik Sense for free to try our Data Storytelling?