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Story-driven Data Analysis

by Dashboard Insight, Dashboard InsightThursday, October 03, 2013

In an Harvard Business Review blog post Judy Bayer, Director Strategic Analytics for Teradata International, and Marie Taillard, professor of marketing and Director of the Creativity Marketing Centre at ESCP Europe Business School in London, UK, address the effectiveness of telling a story with data analysis.

"Great analysts tell great stories based on the results of their analyses. Stories, after all, make results user-friendly, more conducive to decision-making, and more persuasive.

But that is not the only reason to use stories. Time and time again in our experience, stories have been more than an afterthought; they have actually enabled a more rigorous analysis of data in the first place. Stories allow the analysts to construct a set of hypotheses and provide a map for investigating the data.

We recently worked with a department store retailer and a team of analysts looking for creative insights into customer loyalty. Based on our work with a department store expert, we started out with a storyline, a narrative hypothesis, according to which a customer experiences different journeys through the department store over time and rewards the retailer with a certain level of loyalty."

Read the full posting here

Source: Harvard Business Review Blog

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