Everyone’s got data. In fact, according to Domo we produce 2.5 quintillion bytes of data every day. It’s estimated that in 2020 there will be 4 times more bytes of data than there are stars in the observable universe and that number is only going to keep on growing.
So, everyone’s got data. But not everyone has translated this data into insights. It’s people insights, not people data, that will help you understand your business, and your people.
So how do you get from data to insights? The answer is fairly simple. It’s in the story. It’s the context. It’s in finding not the what, but the why behind the numbers. Using context to create a story with data not only helps people to understand data, but it also helps them to enjoy it.
The big tech firms know this – which is why we’re seeing a growing number of them employ personalised end-of-year roundups as part of their marketing campaigns. Arguably, Spotify does this the best and as everyone (who really uses Apple Music?) received their Spotify Wrapped this year we were reminded once again how fun data can be when it tells you a story.
Your Spotify wrapped isn’t just a collection of your most listened to songs, artists and genres, it’s your story told through your listening habits. It’s a nostalgia-fuelled jaunt down memory lane where Thank U Next isn’t just a song, but a memory of a great night out. It’s the personal context behind the data makes it fascinating, not the data itself.
The same has to apply to your people data. Your dashboards and your reporting can’t just be a load of real-time metrics. Because you won’t learn anything from metrics. It’s the context that’s valuable. Data will show you that you have a retention problem in your business, but insights will tell you why you have a retention problem in your business.
This is not a new idea – back in 300BC Plato wrote “a good decision is based on knowledge not numbers.” It’s just now there are a quintillion more numbers and sometimes we forget to take the numbers that extra step and convert them into knowledge.
The Caraffi experts can help you turn your data into insights. Get in touch to see how we could help you.