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As a data enthusiast passionate about insights and analysis, I recently had the privilege of speaking to Andy Goldman's TV Nation class at NYU to share some of my career experiences. It was great connecting with future media professionals to emphasize the importance of embracing data & insights. Reflecting back, I wanted to share some best practices for preparing and communicating information from that session. The following practices are relevant whether you're conducting an analysis, pitching an idea, or developing a business strategy.
The Power of Organized Thinking
While organizing thoughts seems straightforward, the fast-paced nature of business often leads us to overlook this critical step. A Communication major in the class asked if I still apply what I learned from my Comm classes at Rutgers throughout my career. My answer was a resounding yes! Techniques like outlining or mind mapping (my personal favorite) are invaluable for planning and structuring your analysis effectively.
The fundamentals of Communication and Journalism serve as excellent foundations for data analysis, helping to prioritize information and create a logical flow for your insights. Let's explore my basic approach to crafting compelling data insights:
Five Steps to Effective Data Analysis
1. Begin with the End in Mind
Begin by clearly defining the purpose of your analysis. Ask yourself:
- What specific questions am I trying to answer?
- What insights do I hope to gain?
This initial step sets the direction for your entire analysis and ensures you stay focused on your objectives.
2. Identify the Best Data Sources
Determine whether you'll be using:
- Primary sources (e.g., focus groups, first-party data collection)
- Secondary sources (e.g., published data from Nielsen or MRI/Simmons)
Selecting the right data sources is crucial for obtaining relevant and reliable information.
3. Mine Your Data Sources
Collect data points from your chosen sources that best address the questions identified in step one. Be prepared for potential changes in the scope of your analysis based on what you uncover. You may discover data that:
- Expands your initial hypothesis
- Challenges or refutes your original assumptions
To streamline your data storytelling, consider using my **Rank/Trend/Profile** approach. This method helps orient your data so you'll spot key insights faster.
4. Build a Storyline with Context
After synthesizing your data, arrange your findings into a coherent analysis. This is the part I find most fun because it involve:
- Prioritizing your discoveries
- Adding context* to your data
- Anticipating questions from your audience
Context* helps your audience understand the value of your insights.
- Is this the best performance ever based on your findings?
- Have you uncovered a competitive advantage or conversely, is there a weakness?
- What actions might your recipients consider as a result of the insights you compiled?
5. Show & Tell
Polish up your analysis and prepare it for delivery using visualizations or dashboards. Key considerations include:
- Aligning your talking points with your visual elements
- Ensuring consistency in data representation across multiple instances
- Double-checking your data against original sources to maintain credibility
The Importance of Communication Fundamentals
As a fellow Communication major (mine from Rutgers University), I can't stress enough how valuable these skills are in the world of data analysis. The principles provide an excellent framework for:
- Prioritizing information
- Creating logical structures for data insights
- Effectively communicating complex ideas
By combining these communication fundamentals with robust data analysis techniques, you'll be well-equipped to create compelling, insightful, and impactful presentations.
Remember, the ability to organize and present data effectively is a skill that will serve you well in any profession. As you embark on your journey in your career, embrace these practices to become a more effective communicator and data storyteller.