BusinessWorld July 3, 2019
With the unprecedented increase in the amount of data that businesses create, the potential value from data also increases. However, we can only realize the value of data when the insights we derive move people into action. The question is: How exactly can we do that?
To move people into action, data and stories must work together.
Telling stories is more effective because it is more memorable and persuasive than reporting statistics. Chip Heath, a professor at Stanford University, underwent an exercise to test his students’ ability to retain information when stories are used versus statistics. After the students heard different speeches, 63% remembered the stories and only 5% remembered any individual statistic.
In a separate study, researchers tested the tendency of individuals to donate more to named victims (presented as a story) than to statistical victims.
The article then explains how data scientists can be taught how to tell stories.