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Go Draw a Picture

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Go Draw a Picture

In a data-led age, presenting easily digestible and interactive content is now more important than ever.

A colleague once told me a story about how the statistics professor at his MBA school gave students a set of data and asked them to analyse it for an assignment.  They tried everything but most could not find any correlations or insights from the data. 

A few plotted the data, and the data was an outline of an elephant. The lesson being, always plot your data to see the insights – treating data as just data and you may miss the point.

We have come across some great data visualisations, and it is indeed becoming an artform. Here is a link to a simple favourite on the value of $10,000 over time with different investments. It’s detailed but gives you a snapshot at the same time.

Media outlets are alive to this.  See these interactive data projections on the 2018 budget, or popularity of names. There are many, many more.

At Daymark our new reputation risk product, Foresight, relies heavily on data visualisation to convey reputation risks by operational area.  How else can you convey 1000 opinions on 450 reputational damaging scenarios?

In the age of ‘big data’, always look for the presentations which paint a picture.  The saying that a picture is worth a thousand words equally applies to a good graph.

If you would like to talk to us about Foresight contact richard.peters@daymark.com.au

Published: 01/04/2019 Author: Tags: Back to News