The business world is drowning in data. Every interaction, transaction and customer touchpoint generates a new piece of information. While valuable, raw data remains useless until it’s transformed into tangible information. This is where storytelling and data visualization become important. By constructing data into interesting narratives, businesses can make informed decisions, engage stakeholders, and drive growth and change.

Longwood University’s online Master of Business Administration (MBA) with track in Data Analytics program provides students with the skills to transform data. Courses like Data Visualization prepare students to transform data into clear and engaging stories that connect with a broad audience. By combining real-world economic data, fundamental economic principles and statistical analysis, this course provides a foundation for becoming a master of visual storytelling with data.

Crafting a Compelling Narrative

Stories trigger emotional responses, making information more relatable and memorable. Data visualization acts as a powerful tool by using charts, graphs and other visuals to not only present information but also guide viewers through a journey of discovery. This journey encourages curiosity, fosters understanding and encourages action.

TechTarget defines data storytelling as the art of using data to create a narrative that resonates with an audience. This narrative rests on three key components:

  1. The data. The foundation of a data story is the data itself. This data comes from reliable sources and is meticulously collected and analyzed.
  2. The narrative. The narrative acts as the glue that binds the data together. It takes the form of a spoken or written story that unpacks the key findings from the data. This story should be firmly rooted in the data and aim to explain the reasoning behind any proposed actions or decisions.
  3. The visualization. Beyond the raw data itself, visualizations act as additional layers of explanation for the story. Charts, graphs, diagrams and even photos can make the narrative clearer and more impactful.

Democratization of Data Storytelling: Four Key Trends

Shorthand, a digital storytelling platform, outlines four trends that have facilitated the rise of data storytelling for businesses of all sizes:

  1. More data. While “big data” is a familiar term, data production and storage are skyrocketing across all sectors, from environment and finance to entertainment and healthcare, fueling the need for data analytics tools.
  2. Increased access to data. Data accessibility isn’t uniform, but there’s a trend toward openness. This accessibility not only helps businesses with decision-making but also empowers anyone to extract valuable insights from the data.
  3. Better accessibility to tools. Previously, data analysis was locked behind expensive software or clunky free options. Thankfully, user-friendly tools emerged for everyday people, democratizing data analysis and empowering them to leverage data for their work.
  4. Focus on user experience. Data visualizations are increasingly designed with user experience in mind, prioritizing clarity, conciseness and visual appeal.

Why Storytelling Is Essential

A LinkedIn article on the power of storytelling in business analytics highlights the challenge of data overload. The amount of data can be overwhelming, hindering clear communication. This data surplus is where data storytelling becomes crucial. By showing data in a structured narrative format, businesses can deliver information that is both clear and impactful.

Amplitude, a digital analytics platform, emphasizes the importance of data storytelling for driving business success. Data stories connect with people emotionally, encouraging a commitment to data-driven decisions and improving communication, collaboration and business outcomes.

Businesses that leverage data visualization and storytelling can unlock the true power of information. By transforming numbers into compelling stories, businesses effectively communicate complex ideas, encourage collaboration and drive data-driven decision-making. By providing students with the necessary tools, Longwood University’s online MBA – Data Analytics program prepares the next generation of data-driven leaders. The future of business belongs to those who not only analyze data but also use it to tell powerful stories.

Learn more about Longwood University’s online Master of Business Administration with track in Data Analytics program.