Big data stories: how to do more with data
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Recent presentation to Finance & Project managers, HR professionals and Public Sector managers on simple tools to gain more insight from data, quickly and powerful ways of communicating that insight with impact.
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Big data stories: how to do more with data
- 1. BIG DATA STORIES Click me to share How to do more with data
- 2. WHAT IS IT ALL ABOUT? Tell a story Where is the beef? Drives action! File and forget Not persuasive Present facts Data Insight
- 3. Q2 Q3 Q4 Office A 34.4 32.1 27.7 32.2 148.6 139.6 144.3 166.5 Office C 305.7 284.4 245.3 377.8 Office D 25.8 29.2 24.9 27.8 Office E OR MAYBE YOU CAN’T? Q1 Office B AS YOU CAN CLEARLY SEE… Sales (£k) 256.7 242.1 212.9 243.0 Office F 68.5 73.3 67.9 84.6
- 5. CHARTS OR TABLES? Charts Tables Fewer than 6 data points 7-10 data points More than 10 data points Need to see individual data values Need to show trends over time Need to show the distribution/variation of data More than 1 independent variable SOMETIMES YOU MIGHT NEED BOTH
- 6. RULES FOR TABLES anytime / anywhere
- 7. TOP TIPS FOR TABLES In presentations, round the data to “2 effective digits” and use separators
- 8. TOP TIPS FOR TABLES Put latest data or biggest numbers at the top (unless data is time based) Use columns of data rather than rows; the eye can scan up and down more easily
- 9. USING BETTER CHARTS Avoid common issues
- 10. COMMONLY USED CHARTS HAVE A LOT OF ISSUES Product Profitability (£k) Product Profitability 250 200 150 100 50 0 A B C D E F Product G H I J
- 11. AND EVEN MORE ISSUES… Product Profitability 3% 2% 1% 9% 5% 3% 22% 48% 6% 1% A B C D E F G H I
- 12. A PARETO CHART FOCUSES ON PRIORITIES Pareto: the 80:20 Rule Product Cum % profitability 20% of the “causes” accounts for 80% of the Profit results £k 100% 200 80% 150 60% 100 40% 50 20% 0 0% G E A F B H C I Total Cum % D J
- 13. HISTOGRAMS TELL YOU ABOUT VARIATION Freq. 14 12 10 8 6 4 2 0 Accounts Receivable (Histogram) 15 20 25 30 35 40 45 50 55 60 65 70 75 80 85 90 95 Days to pay Invoices
- 14. ARE THINGS GETTING BETTER OR WORSE? % Errors % of Purchase Orders with errors 9 8 7 6 5 4 3 2 1 0 1 2 3 4 5 6 7 8 9 10111213141516171819202122232425 Week No.
- 15. MAYBE IT’S BETTER WITH A BAR CHART? % Errors % of Purchase Orders with errors 9 8 7 6 5 4 3 2 1 0 1 2 3 4 5 6 7 8 9 10111213141516171819202122232425 Week No.
- 16. BUT…A MOVING AVERAGE REVEALS TRENDS % Errors 9 8 7 6 5 4 3 2 1 0 % of Purchase Orders with errors Week1 2 3 4 5 6 7 8 9 10111213141516171819202122232425 % PO errors 4 Week Moving Average
- 17. CONTROL CHARTS DEMONSTRATE REAL IMPROVEMENT Improvement 150 100 Breakthrough 50 Control 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19
- 18. PURPOSE AND STYLE Pre-planning and selection
- 19. WHY WOULD YOU DO THAT?
- 20. WHAT IS YOUR MOST IMPORTANT POINT?
- 23. DIRECTION AND DRIVE all about structure
- 24. Chronological
- 25. Sequential
- 27. SLEEK AND BEAUTIFUL 3 simple design tips
- 28. FONTS CAN YOU READ IT FROM THE BACK? Never apologise for unreadable text – just make it bigger!
- 29. FONTS
- 30. FONTS AND THIS IS ILLEGIBLE
- 31. COLOURS: USE A MONOCHROMATIC SCHEME TO LOOK PROFESSIONAL Accounts Receivable (Histogram) FREQ. 14 12 10 8 6 4 2 0 15 20 25 30 35 40 45 50 55 60 DAYS TO PAY INVOICES 65 70 75 80 85 90 95
- 33. USEFUL AND MEMORABLE What to do about hand-outs
- 34. QUICK AND SIMPLE Your audience deserve it
- 35. CALM AND CONFIDENT No nerves
- 36. BREATHE: 7/11
- 37. BUTTERFLIES
- 38. INTERRUPT
- 39. VISUALISING
- 41. CONTINUE LEARNING Full day interactive workshops Business improvement and facilitated collaboration seminars Specialist 1 to 1/team clinics Make me an offer I cannot refuse
- 42. THANK YOU! – CONTACT US FOR THE FREE WORKBOOK Contact us at: Contact us at: Miriam Gilbert Ian Seath Storytelling with numbers Improvement Skills Consulting +44 (0) 7834 058 240 miriam@storytellingwithnumbers.com Twitter: @MiriamRGilbert LinkedIn: Miriam Gilbert +44(0) 7850 728 506 info@improvement-skills.co.uk Twitter: @IanJSeath LinkedIn: Ian Seath
- 43. PICTURE SOURCES: Bored presentation, meditating woman, slice of cheese: authors’ own What’s your story: www.freshlygroundproductions.com Starlightbulb: www.lornawestonsmyth.com BBC News reader: www.kcet.org Teacher: www.comccanor.org Nelson Mandela: www.bbc.co.uk Beautiful butterflies: www.fanpop.com Film projector: www.fergregory.blogspot.co.uk/ James Bond: www.bibc.co.uk
Notes de l'éditeur
- Hi – I am Miriam Gilbert. Welcome to Big Data Stories: how to do more with data for finance professionals. 90% of the worlds data in existence was created in the last 2 years and as a society we are creating more data every day than had been seen by everyone since the beginning of earth. That is a lot of data and it is growing ever faster. Yet, instead of improving our ability to make decision, many people feel overwhelmed by the vast amount of data. We talk about an information overload. Does this sound familiar?
- Have you every been in the situation where you were looking at some information and struggled to understand what it really meant? And when trying to communicate some really important information, probably with lots of numbers, and your audience just didn’t seem to get it? They simply did not seem to understand? And do you remember how you tried your best to explain your data in simple terms, and maybe your audience even nodded in agreement, but when you ask them to act on the information you have just given them, the response is not what you expected?I would like to you to take one minute to write down the three specific things you’d like to get out of today that will make sure you are not in the same situation again. Is that ok? In the next 2hrs my colleague, Ian Seath and I, are going to show you some powerful ways of dealing with information overload, how to gain insight from data, quickly and we will be sharing some techniques to communicate your message in a way that gets results. I hope that is ok? I will hand over to my colleague, Ian, who will show you some simple, yet powerful tools to hone skills of getting insight from data. A few words about Ian: he has over 20 years experience of creating and, importantly, implementing, improvement projects for his clients. He is well versed in such process improvement techniques like Lean and Six Sigma, and he counts organisations such as BT, BAA, the ministry of Defence, the BBC, and the Home office among his clients.
- We talked about how to gain insight from data, and in the next section we look at how to communicate that insight with impact. Miriam will take you through this session. Just a few words about Miriam: She is a chartered accountant with over 18 years business experience. She has always been keen to break out of the silo that many finance professionals find themselves and having worked for large organisation such as PwC, RBS and London Underground, she has made it her business to facilitate effective collaboration and communication between technical teams, such as finance, IT, engineering and project management. Let’s come back in 5-10 min.
- We will take a quick break to give you a chance to stretch your legs. When you come back we will look at how to take all this insight and turn it into a powerful message when you communicate with other.
- You may have heard the saying “let the numbers do the talking – they speak for themselves”. That is only half-true. Your audience wants the facts and they also need your expertise to give context and direction to understand the numbers, and your help in their decision making. BTW, for illustration purposes, we use the example of presentations in the widest sense, but the principles are applicable to any business communicationIn the first part, you learned about some useful tools to turn data into insights. And this part is about communication your insights with impact. Because We have a jam packed session because I wanted to make sure you come away from today with some really practical tools that you can apply straight away. That means there is less time to get interactive and more of me talking than you would normally get in one of our full day workshops. If you come to one of our full day workshops, we include much more practice time for you to try out these tools in a safe environment and find your own style, too.
- Of course, the content of your presentation is determined by the information you want to communicate, and your MIP, which we just looked at.But to make sure that your message does indeed get heard about the noise, you need to tell it in a compelling manner. And stories lend themselves beautifully for this purpose. Storytelling is a technique used by business leaders around the world to cut through the noise. Because it makes information personal, provides direction, inspiration and leadership.
- How it works? There is a lot of research into the power of stories, how it helps to make a message “stick” in the audience minds. Research shows that 10min after a presentations, audiences only remember about 50% of the content – and that gradually reduces to only 10% by the end of a week. Stories, however, are so effective that people will remember them for much longer. Stories give people an emotional frame of reference on which to relate personally. Stories are effective because everyone has their own story and can imagine or envision themselves participating in the story to which they are listening. So consider either wrapping your whole presentation into a story format (maybe tell the story of how your organisation has overcome great adversity or is about to embark on a brand new direction) or sprinkle some stories into your presentations. Analogies and comparisons work well here, too.
- Most presentation follow topical structure – just like this one, where we talked about tools to hone your analytical skills and are now looking at the 4 communication essential. Example of a financial performance report. Nothing wrong with it, but I just wanted to introduce an idea to you of how to set your presentation apart from others. depending on you Most Important Point and the story you want to tell, other structures might be more appealing to your audience.
- A few words on design: And it does not matter which software tool you use –the principles apply to all. Content over form is the approach taken by most people when creating their visual props. And while it is true that no amount of sleek design will make up for a lack of content (no matter what advertisers are trying to do), it is also true that poor design really hampers getting your message across. We already talked about how to make data more visually appealing and this section shows you 3 very simple design tricks you can use straight away to give your presentation a professional feel. First, consider the fonts:
- Make them big enough to be read at the back of the room. Never, ever include text or an image or graphic with text that cannot be read from the back of the room – break the image down into component parts if need to. Secondly,
- And avoid script fonts
- Keep the colours simple. Use a monochromatic scheme with a strong contrast to highlight particular points.And when it comes to using images, make them
- Adding images adds interest, particularly if you are telling a story, so make the images big, bold and not cheesy – Do I need to say more?
- Hand outs are always a thorny issue. If you hand them out in advance, you spoil any surprises you might want to make and people might get the wrong impression. If you hand them out during your talk, everyone stops listening to you and starts flipping through them. And if you hand them out afterwards, people feel like they have nowhere to take notes and will forget the most important part. So here are my suggestions for hand outs that are useful and memorable – something that people want to use for more than just a door stop
- Most hand outs look something like the is: a print of 1, 2 or more of the slides presented. Plus, if you follow the advice on how to create memorable slides for your presentation, handing these single word/picture slides out on paper will be fat use to anyone…. (how many have looked at slides from a presentation that you did not attend and thought – WTH???
- Instead of handing out your slides, ensure your handout reflects your presentation, add more information and make them stand-aloneThink that the handout may be passed onto people who were not at your presentation. Or an audience member may look at it a year from now when they’ve forgotten most of your presentation. Make sure that it will make sense to them. This is a lot of stuff, and you might wonder “where is my handout then”. Actually, it has been emailed to you this morning and it covers everything we have talked about and some more. It is in form of a workbook, and includes the storytelling template to help you constructing your own stories. Please make sure you share it with others – we want to get the word out there. For our last section, we will get a bit more hands on – because we look at some exercises to delivery your presentation in a calm and confident manner.
- The fear of speaking in front of an audience is one of the most common fears, even more common than a fears of spider or enclosed spaces. And while I am personally not particularly fond of spiders, I think a fear of public speaking is more damaging as it prevents many people from achieving their potential. And because of this, I wanted to share 4 simple tricks you can use to calm your nerves, and even turn them into an advantage. I will guide you through them and take a minute to try them out.I would then like to make you a really excellent offer that Ian and I have put together as a thank you for attending today. Is that ok?
- 7/11 breathDo it anytime anywhere: nice deep breath in for 7 counts and out for 11. Do this 5-8 times, and you will realise how your shoulders start to drop down, your neck starts to relax, and your mind starts to calm down. Try it nowOur second exercise might surprise you a little but again, it’s simple and you can do it anytime, anywhere.
- I call it using your butterflies.When we are nervous, our body produces adrenaline to get us ready to respond to a threat- it’s the famous fight or flight response. I am sure you are familiar with it. People noticing the effect of the adrenaline pumping through their system interpret this as being scared (butterflies in the tummy, clammy hands, maybe shaking hands) which in turn makes them even more nervous. What we forget is that adrenaline is just a hormone – it does not know about being scared or nervous – and in fact, many of the symptoms of being nervous are the same as those of being excited! Just think back to a situation where you were really excited and notice that you probably had the same butterflies. This exercise borrows from the practice of many professional sports people who know that having adrenaline pumping in their system is essential to achieving top performances. Therefore, they see the “butterflies” as something positive, and you can too: practice redirecting you thoughts from “this is scary” to “this is great – and all this adrenaline giving me butterflies, will help me making my presentation even better!”. Use the adrenaline to inject passion and energy into your presentation – that way you avoid the number one killer for most presentations which lack energy and drive.
- Anxiety interrupted: 5-10 min before you start your presentation, your nervousness is likely to be reaching new heights – so interrupt it. Set your brain a difficult task that has nothing to do with the presentation. For example, Go through the timetable for 13, count back from a random number in 7s, or recite the alphabet backwards – anything that requires some concentration and is not linked to the task at hand – it will stop your anxiety. Ideal is to do something physical, too – like skipping hopscotch, however, it might be more realistic to go for a quick walk around the block….
- Visualisation and again, professional performers in all fields use this technique extensively. How it works: imagine a time where you will be giving a presentation. Picture the place, and the audience. Create a little movie in your head about you giving a calm, successful, engaging, inspiring presentation. Really flesh out your success in that movie in your head. Make that movie really life like, give it lots of colour and sound. Imagine you are in a cinema, watching the movie of you giving a great presentation. Repeat, repeat, repeat.
- I hope you enjoy the visualising exercise, just picture yourself in the future, presenting real data insight with real impact. As a thank you for taking part today, Ian and I wanted to make you a special offer. We appreciate your time and know that these 2hours can only scratch the surface of the skills you want to improve. Therefore we give you the opportunity to save on your future .
- We are also offering a 15% discount on all our public courses and workshops, if you register your interest today. All that involves is to say – yes, please keep me informed, nothing more. You can do this simple by coming to speak to us at the end. Also, Our pre-course surveys have shown that quite of a few of you thought people in your organisation might benefit from this type of learning. We can offer this course as full-day workshops, using data and examples tailored to your organisation, or bespoke workshops that address specific issues in your organisation. For example, I have done some very successful work in a large public sector client, improving their business planning and budgeting processes through facilitated communication and collaboration. Finally, we offer specialist clinics, where we can help individuals or teams with specific issues.To get this offer, we We therefore invite you to pencil in a date in the diary for a quick telephone or skype conversation with yourself and / or whoever in your organisation would be interested to explore what kind of help we can provide. That could be the head of your department or of your training and development team. As a thank you, we offer a 15% discount on our standard rates to your organisation as well. it’s a safe bet – all you commit to just now is maximum a 15min conversation over the next week or two. Come and speak to me or Ian at the end of the session.