How to tell Data and Analytics stories to Executives:
At a minimum, ensure you touch on 6 important components of successful data-driven decision making.
#3DM6 #data #analysis #insight #decision #feedback #measurement
A simple example: Associations in transactional data enables a fraud prediction which will improve our decisions to approve credit. We expect a #% reduction in fraud worth $##. We will monitor performance to validate and enable improvement over time.
You could go deeper, but at minimum organizing the story by those components lets execs know why they care, triggers good questions and frames the deeper discussion.
Pet peeve; Being told it is better to dazzle the execs with a fancy visualization and talk in metaphors. It is even more frustrating hearing “told you so” when the dazzle with metaphors strategy works.
Automating decision making is a big deal. When developing algorithms that could become a competitive advantage or major risk, it is especially important the executive or even the board insist on a comprehensive and structured way to understand what is happening at an appropriate level. #3DM6.