Unlocking Secrets of Data: How Mastering Storytelling Skyrockets Your Career!
Storytelling - a buzzword that every product and data engineer likes to throw around lately. But what is storytelling? Storytelling with data is one of the most important skills a PM or data scientist must master... Everybody talks about the benefits (better understanding, better engagement, better decision-making), but nobody reveals how to actually do it. And more importantly: How to do it right.
What is Data-driven Storytelling?
Data-driven storytelling is the magic wand every product manager, data scientist and engineer needs. Just imagine having a tool box of hard facts at your fingertips, but lacking the ability to turn these into compelling narratives and arguments...?
Data storytelling goes beyond simple data visualisation by crafting a compelling narrative that integrates data and analysis.
This method does more than just present information; it captivates the audience and provides clear, actionable insights. By organising data into a narrative with a beginning, conflict, and resolution, this approach turns observations into strategic actions. This not only engages, but also enlightens and convinces your audience, making your insights impossible to ignore.
A practical example:?
Consider the scenario at Joe’s Games: Analysis reveals an uptick in users within the $0-$10 monthly spending bracket.?
? What Not to Do ?
You make the mistake of presenting this finding only as "exciting data," showing a chart that marks the growth in low-spending users over time. Your manager's response? "Hmm… that’s interesting, so what?"
This response signifies missed potential; an opportunity to engage and drive action was lost in translation.
? What to Do Instead ?
STEP 1: Provide a TL;DR
? A "TL;DR" stands for "too long; didn't read." It's a succinct summary of a longer piece of text, providing the essence or main points in a brief format.
STEP 2: Explain the Setup
? In the setup, conflict, and resolution framework of data storytelling, the "setup" establishes the context or background of the story. It introduces the audience to the setting, characters (which can be the data or subjects of the analysis), and the initial situation.?
We've seen a notable increase in the $0-$10 spending bracket among our users, indicating a surge in net new user engagement. This pattern points to an untapped market ripe for development, yet it also highlights a predominance of lower-tier spending, suggesting potential revenue we're currently not capitalising on.
STEP 3: Clearly call out the Conflict/challenge?
? In the setup, conflict, and resolution framework of data storytelling, the "conflict" refers to the central challenge, problem, or question that arises from the initial situation established in the setup. It's the pivotal point that drives the narrative forward, creating tension and interest.?
The real challenge lies in leveraging this engagement into tangible revenue. Despite a steady contribution from higher spending brackets, our primary task is crafting innovative solutions that entice our increasing new user base to explore and invest in more premium offerings.
STEP 4: Suggest a Resolution?
? In the setup, conflict, and resolution framework of data storytelling, the "resolution" is the phase where the central problem or conflict introduced earlier is addressed or solved. It involves presenting the outcomes of actions taken, the insights gained from data analysis, or the decisions made in response to the conflict. This stage is crucial for delivering the story's value, showcasing how the data-driven insights lead to actionable outcomes or informed decision-making.
"Power Pass" is our strategic response. This feature is meticulously designed to deepen user engagement and foster increased spending, offering a bridge to premium content and exclusive experiences. Positioned to attract the $11-$25 spenders, "Power Pass" serves as a direct conduit to higher revenue brackets, ensuring Joe's Games not only captures but also maximizes the value of our growing user base.
"People hear statistics, but they feel stories." Brent Dykes
By reimagining our approach to data presentation, we shift from sparking passive interest to igniting actionable change. This method underscores the quintessential role of data storytelling in not just sharing insights but compelling action, affirming its critical importance in the toolkit of every product manager and engineer aiming to make a lasting impact.
Additional Resources:
If you want to polish your skills in storytelling, these books are a must-read
Product @ Gap Inc. | OMS & Omnichannel - Driving Innovation and Growth
7 个月Thank you for sharing this, Vidhi. It is concise yet comprehensive. I love how It breaks down the process into actionable steps. A must-read for anyone looking to make a meaningful impact with their data presentations!