93% of IT Decision Makers Agree Embracing Data Storytelling is the Secret to Boosting Revenue

Published: 26. July 2021. 8:52

Most Organizations (82%) Still Rely Solely on Dashboards
But 92% Agree Data Storytelling is Essential for Communicating Insights Effectively

Exasol, the high-performance analytics database, today announced new findings from an independent survey that reveals modern organizations should be using data storytelling to drive revenue.  It is also a crucial skill for scaling data democratization and reaping the full benefits of a data-driven culture. According to the findings, an overwhelming 93% of decision-makers say that successfully leveraging data storytelling helps increase revenue.

But it seems that organizations aren’t there yet. The research indicates that most organizations (82%) regularly use dashboards to communicate insights. This is despite some flaws that render dashboards ineffective for certain purposes. Sixty-one percent of respondents cited lack of context as the biggest problem with dashboards, and more than half (53%) agreed that dashboards are often disregarded because of the time it takes to interpret them.

“This research illustrates the business value that comes from being able to effectively communicate data insights to everyone within an organization – not just data or IT professionals” said Peter Jackson, chief data and analytics officer at Exasol. “Today’s diverse workforce and dynamic digital world require data-driven organizations. Many people within a business don’t have the skill or the time to interpret complex dashboards. That’s where data storytelling skills make a difference – data storytelling helps communicate insights to everyone, regardless of where they fall on the data literacy spectrum.”

Key findings from the survey illustrate the importance of data democratization and the power of data storytelling, including:

The report titled “From the ‘what’ to the ‘why’: How data storytelling is key to success” is based on a survey of 500 decision makers from enterprises located in the U.S. with more than 1,000 employees. 

The survey results emphasize the need for a more effective way to communicate data insights with people across positions and experience levels, but especially the C-suite and other key stakeholders since they are regularly making strategic business decisions. The majority (82%) of respondents are familiar with data storytelling and widely recognize it as an effective way to drive business success.

Organizations that unleash the full power of data and analytics through data storytelling will have access to actionable data insights that will help them tackle complex problems and help drive the overall business forward,” explained Jackson.

To view the full report, “From the ‘what’ to the ‘why’: How data storytelling is key to success,” visit: https://www.exasol.com/resource/from-the-what-to-the-why-how-data-storytelling-is-key-to-success/

Learn how you can equip yourself with the tools necessary to unlock the benefits of data storytelling here: www.exasol.com/product-overview/#bi-acceleration

 

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