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How can data visualization tools improve stakeholder communication in strategy?

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Data visualization tools are powerful ways to present complex and dynamic information in a clear and engaging manner. They can help you communicate your strategy to various stakeholders, such as clients, executives, employees, or investors, by showing them the big picture, the key insights, and the potential scenarios. In this article, you will learn how to use data visualization tools to improve stakeholder communication in strategy, and what benefits they can bring to your strategic decision-making process.

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Guneet Nagpal

Product Strategy- Global Corporate Banking
Saurabh P.

Process Governance Manager at Vodafone | PMO | Operational Excellence | Ex Amazon, FedEx, Prudential, Reliance | Six…
Ansar Meah

Business Analyst

1 Choose the right tool

There are many data visualization tools available, ranging from simple charts and graphs to interactive dashboards and maps. Depending on your purpose, audience, and data source, you need to choose the right tool that suits your needs and objectives. Some factors to consider are the type and volume of data, the level of detail and interactivity, the visual design and aesthetics, and the compatibility and accessibility of the tool. You can use online platforms, such as Tableau, Power BI, or Google Data Studio, to create and share data visualizations easily and securely.

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Saurabh P.

Process Governance Manager at Vodafone | PMO | Operational Excellence | Ex Amazon, FedEx, Prudential, Reliance | Six Sigma Black Belt | PRINCE2 Agile? | PMP?
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I think, data visualization tools can greatly improve stakeholder communication in strategy by making complex data and information more accessible, understandable, and actionable. I usually use below ways in which these tools can enhance communication with stakeholders: - Clarity and Simplification - Enhanced Understanding - Alignment of Goals - Real-time Updates - Storytelling - Interactivity - Customization - Collaboration - Benchmarking and Comparison - Risk Assessment - Monitoring Progress - Transparency

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Ansar Meah

Business Analyst
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Data visualisation tools play a crucial role in effectively conveying complex information. They enhance stakeholder communication by visualising strategy, key insights, and potential scenarios, making it easier for diverse audiences to understand and engage with the data. The benefits include improved comprehension, informed decision-making, and a more compelling presentation of your strategic vision. Of course, data integrity is vital; if there are errors in data or human errors, this could also lead to unknown errors. ??

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2 Define the story

Data visualization is not just about showing numbers and facts, but also about telling a story that connects with your stakeholders and persuades them to take action. You need to define the story you want to tell, and how it relates to your strategy and goals. You can use a narrative structure, such as the situation-complication-resolution model, to frame your data and highlight the main challenges and opportunities. You can also use a hook, such as a question, a quote, or a statistic, to capture your stakeholders' attention and curiosity.

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Sandra Samantha Sowah

+Creating Learning Ecosystems One Technology Platform At A Time+ Thought Leadership | Learning Technology Platforms | Learning Design | Technology Advisory & Strategy
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Recognizing that not all stakeholders may grasp the intricacies of numerical data, it's key to convey information through a compelling narrative. Instead of tailoring the story to fit the data, derive the narrative directly from the data itself. Within the vast sea of numbers, trends, insights, and analyses emerge, collectively forming a coherent and memorable story. While massive datasets can be overwhelming, a well-crafted narrative ensures that the essence of the information remains indelible in the minds of your audience. By focusing on the story within the data, you not only make complex information more accessible but also create a lasting impact that resonates with your stakeholders.

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3 Simplify and focus

One of the common pitfalls of data visualization is to overload your stakeholders with too much information and clutter. This can make your data visualization confusing and ineffective, and dilute your strategic message. To avoid this, you need to simplify and focus your data visualization on the most relevant and impactful data points, and eliminate any unnecessary or redundant elements. You can use techniques, such as filtering, aggregating, or highlighting, to emphasize the key data and insights, and guide your stakeholders' attention and understanding.

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4 Add context and comparison

Another way to enhance your data visualization and stakeholder communication is to add context and comparison to your data. This can help you provide more meaning and perspective to your data, and show how it relates to your strategy and environment. You can use benchmarks, targets, trends, or scenarios, to compare your data with other data sets, such as historical, industry, or competitor data. You can also use annotations, labels, or captions, to explain your data and its implications for your strategy.

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5 Solicit feedback and collaboration

Data visualization is not a one-way communication, but a two-way dialogue. You can use data visualization tools to solicit feedback and collaboration from your stakeholders, and involve them in your strategic decision-making process. You can use features, such as comments, ratings, or surveys, to collect your stakeholders' opinions and suggestions, and address any questions or concerns they may have. You can also use features, such as filters, sliders, or buttons, to allow your stakeholders to explore and interact with your data, and see how different variables or assumptions affect your strategy.

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6 Update and iterate

Data visualization is not a static product, but a dynamic process. You need to update and iterate your data visualization regularly, to reflect the changes and developments in your data, strategy, and environment. You can use data sources, such as APIs, databases, or spreadsheets, to automate and synchronize your data visualization with your data. You can also use analytics, such as views, clicks, or shares, to measure and improve the performance and impact of your data visualization, and optimize it for your stakeholders and objectives.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Guneet Nagpal

Product Strategy- Global Corporate Banking
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There are 2 ways of looking at data 1. Wherein there is no base and the data and the data visualisation helps understand the flow of the story of give direction to what was at one point of time just numbers put together 2. The second is wherein the strategy or the story already exists and what data does it make it stronger and the visualisation adds the look and feel to make it more palatable In both the cases data visualisation can be a very strong tool to help the people go with the flow of the strategy and reach the logical conclusions or the result which you expected or were looking forward to

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How can data visualization tools improve stakeholder communication in strategy?

1

2

3

4

5

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1 Choose the right tool

2 Define the story

3 Simplify and focus

4 Add context and comparison

5 Solicit feedback and collaboration

6 Update and iterate

7 Here’s what else to consider

Strategy

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How can data visualization tools improve stakeholder communication in strategy?

1

2

3

4

5

6

7

1 Choose the right tool

2 Define the story

3 Simplify and focus

4 Add context and comparison

5 Solicit feedback and collaboration

6 Update and iterate

7 Here’s what else to consider

Strategy

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