WELCOME
EFFECTIVE DATA STORYTELLING: THE CRUCIAL “LAST MILE” OF ANALYTICS Brent Dykes | Sr. Director, Data Strategy | Domo 3
INTRODUCING MY NEW BOOK “Brent Dykes is the king of data storytelling ; he’s probably thought about this more than anyone else on the planet.” Thomas H. Davenport Distinguished Professor, Babson College Research Fellow, MIT Author of Competing on Analytics & The AI Advantage 4
Expectations for this presentation five minutes ago . 5
Expectations for this presentation now . 6
THE LAST MILE OF ANALYTICS LAST MILE Data Data Data Data Insight Take Collection Preparation Visualization Exploration Communication Action 7
SMALL INSIGHTS CAN BE ACTED ON BY INDIVIDUALS 8
BIG INSIGHTS REQUIRE COMMUNICATION BUDGET? COORDINATION? APPROVAL? RESOURCES? BUY-IN? EFFECTIVE COMMUNICATION 9
BIG INSIGHTS REQUIRE COMMUNICATION NO BUDGET NO COORDINATION NO APPROVAL NO RESOURCES NO BUY-IN POOR COMMUNICATION 10
4 KEY COMMUNICATION OBJECTIVES GOAL ACT REMEMBER UNDERSTAND ATTENTION
WHY DATA STORYTELLING MATTERS NARRATIVE VISUALS DATA 12
EXPLAIN: NARRATIVE VISUALS Narrative + Data DATA
ENLIGHTEN: NARRATIVE VISUALS Data + Visuals DATA 14
ENGAGE: Engage NARRATIVE VISUALS Narrative + Visuals DATA 15
Engage Influence NARRATIVE VISUALS change with CHANGE data stories DATA 16
TOP SOFT SKILLS FOR 2020 1. Creativity 2. Persuasion 3. Collaboration 4. Adaptability 5. Emotional Intelligence
ARISTOTLE’S PERSUASIVE APPEALS ETHOS Credibility Storyteller PATHOS LOGOS Emotion Logic & Reason TELOS KAIROS Purpose Timing Audience
WHICH IS YOUR STRENGTH? DATA NARRATIVE VISUALS Analysts Marketers Graphic designers Economists Journalists Artists Statisticians Sales people Educators Data scientists Executives Students 19
HOW TO STRENGTHEN YOUR WEAKNESSES DATA NARRATIVE VISUALS 20
HOW TO BUILD UP YOUR WEAK AREAS DATA NARRATIVE VISUALS 1. Check your personal biases 2. Become more data literate 3. Know how your data ties to the business strategy 4. Understand where your data comes from and what the metrics mean 5. Be curious, explore the numbers, and ask questions 21
HOW TO BUILD UP YOUR WEAK AREAS DATA NARRATIVE VISUALS 1. Study narrative structure 2. Identify your central point or main message 3. Bring out the human aspects or elements 4. Show cognitive empathy toward your audience 5. Practice, practice, practice 22
HOW TO BUILD UP YOUR WEAK AREAS DATA NARRATIVE VISUALS 1. Learn and apply visual perception principles 2. Know your audience 3. Seek inspiration and ideas from others 4. Learn how to take advantage of tool’s full capabilities 5. Iterate and seek feedback on your design 23
DATA: FOUNDATION OF YOUR DATA STORY
WHEN YOU FIND AN INSIGHT…
…DO YOU GET IN ITS WAY?
FIVE WAYS WE GET IN THE WAY We don’t scrutinize We are cursed 1 4 insights we like. by knowledge. We let our We over- 2 biases fool us. estimate how 5 much evidence is required. We employ 3 faulty reasoning.
#1 – DATA YOU LIKE GETS A HALL PASS Study Participants 15 Daily Health Digest Research shows eating chocolate accelerates weight loss Combining greed and weight loss is possible. This is what a German study of the Institute of diet and health of Mainz published in the International Archives of Medicine reveals. This piece of research demonstrates that by adding 42 g of dark chocolate with 81 percent cocoa content to their daily diet, people lost 10 percent more weight than people who followed a traditional diet that forbids the consumption
#2 – YOUR BIASES CAN FOOL YOU Survivors Non-survivors US AIR FORCE: Potential “Where do we reinforce vulnerable our bombers with areas more armor?” SURVIVORSHIP BIAS Abraham Wald 29
#3 – FAULTY REASONING CAN SINK YOU
#3 – FAULTY REASONING CAN SINK YOU Correlation: r=0.9926
#4 – YOU ARE CURSED WITH KNOWLEDGE It’s hard to NOT KNOW 50% what we know 2.5%
#5 – YOU OVERESTIMATE THE AMOUNT OF EVIDENCE THAT’S NEEDED Study Prediction Actual Artwork 16-17 3-4 4x Juice 3-4 1-2 2x Essays 4 2 2x
NARRATIVE: STRUCTURE OF YOUR DATA STORY
DIFFERENT NARRATIVE MODELS CAMPBELL’S HERO’S JOURNEY ARISTOTLE’S TRAGEDY STRUCTURE FREYTAG’S PYRAMID DEPARTURE RETURN Normal Mastery Middle life Climax Call to Resurrection adventure Road back Refusal Inciting Resolution Meet the Incident Reward mentor Cross the Ordeal threshold Exposition Denouement End Beginning Trials Approach INITIATION TOO SIMPLE “JUST RIGHT” TOO COMPLEX
DATA STORYTELLING ARC 3 Aha Moment Major finding or central insight 2 Rising Insights 4 Solution & Next Steps Supporting details that reveal deeper Potential options insights into the & recommendation problem or opportunity 1 Setting & Hook Background on Audience’s knowledge is current situation, enriched & likelihood to character(s) & act is increased hook
PIXAR’S APPROACH TO STORYTELLING
PIXAR’S STORY SPINE Once upon a time there was___. Every day, ___. But, one day ___. Because of that, ___. Because of that, ___. Because of that, ___. Until finally ___. And, ever since then ___.
DATA STORYTELLING ARC & STORY SPINE Once upon a time there was___. SETTING Every day, ___. & HOOK But, one day ___. Because of that, ___. RISING Because of that, ___. INSIGHTS Because of that, ___. AHA MOMENT Until finally ___. SOLUTION And, ever since then ___.
BOOKINGS AND REVENUE TO INCREASE IN 2019-20 Bookings will increase 3.3% in 2019-20 Revenue is expected to increase 5.2% in 2019-20 8,600 $23.65M $22.48M $20.97M $19.93M 8,325 7,915 7,815 2016-17 2017-18 2018-19 2019-20 2016-17 2017-18 2018-19 2019-20 Forecasted Forecasted
SOCIAL MEDIA IS DRIVING MORE BOOKINGS Bookings 3K 2,800 Paid Search 2,700 Social Media 2K 1,850 Email 1,250 Display Ads 1K 0 2016-17 2017-18 2018-19 2019-20 Forecasted
SOCIAL MEDIA IS DRIVING MORE BOOKINGS Bookings Social media 3K 2,800 Paid Search bookings will 2,700 Social Media increase by 60% since 2016-17 season. 2K 1,850 Email Social media is expected to generate 1,250 Display Ads 31% of bookings in 1K 2019-20 , compared to 22% in 2016-17. 0 2016-17 2017-18 2018-19 2019-20 Forecasted
SOCIAL MEDIA CONVERTS AT A HIGHER RATE Marketing spend Conversion rate (2018-19) (2018-19) Paid Search $1.28M 2.55% Social Media $770K 3.25% Email $500K 1.15% Display Ads $450K 2.15%
LINKEDIN STANDS OUT FROM OTHER PLATFORMS Booking volume Conversion Rate Average Booking Value (2018-19) (2018-19) (2018-19) 812 3.45% $2,685 649 3.15% $2,725 421 2.70% $2,745 178 2.35% $2,635 95 3.85% $3,151
KEY SEGMENTS FOR SNOWPINE PEAKS TEEN TODDLERS COUPLES FAMILY IN TOW RETREAT GETAWAY DAYS: 5.5 DAYS: 3.5 DAYS: 4 PEOPLE: 4+ PEOPLE: 3.5 PEOPLE: 2 ROOM TYPE: DELUXE ROOM TYPE: STANDARD ROOM TYPE: STUDIO ADULT LIFT TICKETS: 4+ ADULT LIFT TICKETS: 2+ ADULT LIFT TICKETS: 2 AVERAGE VALUE: $4,750 AVERAGE VALUE: $3,350 AVERAGE VALUE: $2,885
LINKEDIN HAS HIGHER % OF KEY SEGMENT LinkedIn Facebook YouTube TEEN FAMILY 37% 23% 27% GETAWAY TODDLERS 21% 28% 31% IN TOW COUPLES 29% 35% 26% RETREAT 13% 14% 16% OTHER
LINKEDIN REACHES A NEW BUSINESS SEGMENT 50 42 40 30 Frequency BUSINESS of bookings GATHERINGS 20 21 ($12K+) 18 10 8 2 4 0 Booking value
NEW LINKEDIN STRATEGY $1.2M CORPORATE BOOKINGS The proposed $300K New bookings: 20 LinkedIn strategy will Avg. booking value: $15K increase revenues by 5.1% in 2019-2020 . SEGMENT BOOKINGS New bookings: 300 $900K Avg. booking value: $3K $200K LinkedIn Investment Incremental Revenue
WHERE DOES THE $200K COME FROM? OPTION #1 – Channel Cut OPTION #2 – Social Shift Current Proposed Current Proposed $330K $1.28M $1.18M $230K $220K $170K $150K $120K $500K $400K $50K $30K + + + + $100K $100K $100K $50K $30K $20K 7.8% 20% 30.3% 22.7% 20% 40%
WHERE DOES THE $200K COME FROM? $1.28M $1.23M Current Proposed OPTION #3 – Balanced Approach (RECOMMENDED) This option will have the smallest impact on ad spend for the two $500K $450K channels and other social platforms. $330K $280K $220K $195K $150K $135K $50K $40K + + + + + $50K $50K $50K $25K $15K $10K 3.9% 10% 15.2% 11.4% 10% 20%
BEHIND THE SCENES: NARRATIVE ARC Once upon a time there was___. SETTING Every day, ___. & HOOK But, one day ___.
BEHIND THE SCENES: NARRATIVE ARC Because of that, ___. RISING Because of that, ___. INSIGHTS Because of that, ___.
BEHIND THE SCENES: NARRATIVE ARC AHA Until finally ___. MOMENT
BEHIND THE SCENES: NARRATIVE ARC SOLUTION And ever since then ___.
VISUALS: THE SCENES OF YOUR DATA STORY
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