Brent Dykes: People Hear Statistics, But they Feel Stories
Nov 13, 2024
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In this engaging conversation, Brent Dykes, bestselling author of Effective Data Storytelling and founder of Analytics Hero, shares his expertise in data storytelling for finance leaders. He explores the evolution of storytelling in analytics, the irreplaceable human element amid AI advancements, and the biggest challenges organizations face in communicating data effectively. Brent also provides insights into fostering a data-driven culture and emphasizes the continued relevance of tools like Excel in enhancing data literacy.
Effective data storytelling merges analytics with narrative techniques, enabling professionals to present complex data in engaging ways for better decision-making.
As the role of analysts evolves, communication skills become crucial for articulating insights across diverse audiences beyond just data experts.
Organizations must build a data-driven culture focused on data literacy, quality, and access, supported by executive sponsorship to enhance trust in insights.
Deep dives
The Importance of Data Storytelling
Data storytelling is critical for effectively communicating insights derived from analytics. By combining data with narrative techniques, professionals can transform complex data sets into compelling stories that resonate with stakeholders. This approach not only helps in presenting findings but also facilitates better decision-making by making data accessible and engaging. Brent Dykes highlights that many individuals struggle to convey their insights due to a lack of narrative skills, creating a significant opportunity for improvement in the field.
The Evolving Role of Analysts
The role of analysts has evolved dramatically alongside the increasing importance of data within organizations. Analysts must now be adept at not only handling data but also articulating insights in meaningful ways to various audiences. As data is no longer the sole purview of data professionals, the ability to communicate effectively has become paramount. Brent emphasizes that communication skills will be essential as finance and analytics professionals merge storytelling with their analytical expertise to drive impactful business outcomes.
Challenges in Data-Driven Cultures
Many organizations face challenges in developing a data-driven culture, particularly around data literacy and access. Trust in the data is often undermined by issues such as outdated sources or poor-quality data, leading to hesitance among decision-makers. To address these barriers, it's crucial for companies to ensure they have relevant, trustworthy data and to cultivate an environment where employees can access and interact with that data confidently. Brent notes that executive sponsorship is vital in fostering a culture that embraces data-driven decision-making across all levels.
Leveraging AI in Data Analytics
AI presents significant opportunities to enhance data analytics by automating processes and helping analysts identify patterns and insights. However, it is essential that finance professionals maintain a strong foundational knowledge of data principles to effectively leverage these technologies. Brent warns that without a solid grounding in data science and analytics, users may uncritically accept AI-generated outputs, potentially leading to erroneous conclusions. Successful integration of AI will require a combination of technological advancements and human expertise.
Building a Strong Data Infrastructure
Creating a robust data infrastructure is essential for organizations aiming to improve their data capabilities. This includes having relevant data aligned with business goals, ensuring data quality through proper governance, and implementing effective reporting tools. Companies must also invest in personnel who can interpret and analyze the data, rather than relying solely on technology. Brent underscores that a comprehensive approach to data culture, involving people, processes, and technology, is vital for fostering effective data storytelling and driving informed decision-making.
In this episode we are joined by Brent Dykes, the bestselling author of Effective Data Storytelling (Wiley, 2020), founder of Analytics Hero, and Forbes contributor. He has helped thousands of finance leaders at companies including Microsoft, IKEA, Nike, Sony, and Pfizer, enhance their data storytelling, visualization, and interpretation skills. “I strive to ensure analytics is always aligned with business priorities and maximizing business value.“
In this episode Brent Dykes says: “One of the things that I saw quickly was that a lot of people struggled to communicate their findings and, and their insights, uh, around data. And I would go to conferences and I’d see people present data, and I’d be horrified by what I’d see. It’s just overwhelming,data dumps. And that really flagged for me in my mind that there’s a real opportunity here to do better.”
Early college days choosing between marketing vs accounting as my focus
The aspects of humans that AI and machines can’t replicate
Business consultant at Adobe for 12 years and Domo
Effective Data Storytelling
The evolution of data
Evolving perspective of finance and analytics
Value AI vs Humans
Lessons from coaching and mentoring companies on their story
Challenges of data storytelling in large and small companies
The biggest challenges in data storytelling
What do you do when your story is contradictory to what their bosses want to hear
Recommendations for tools and systems to up your data maturity
