1. Data insights
Welcome back. Now that we are on our way to becoming more mindful communicators, let's explore the core idea we want to share to drive business success.
2. Data insights
Insights, sometimes known as data insights or analytical insights, are a deep understanding of a situation. Organizations can leverage insights to drive change from within in a structured way.
3. Obtaining insights
Working backward, insights are uncovered by collecting data on a business problem. Organizing the data.
Distilling it through analytical techniques to reveal the underlying knowledge.
Applying that underlying knowledge to the business actions and solidify an actionable insight. Communicate the insight and action plan, and then observe the outcome.
All throughout the process there are large opportunities for working collaboratively and leveraging the strengths of your peers and colleagues to uncover the best possible insights.
The insight discovery process varies significantly from situation to situation, mainly in the analyzing information phase, but ultimately, every insight needs to be shared to impact an organization.
So what makes insights different, and how can insights be shaped for more accessible communication?
4. Insights in action
Insights come in all shapes and sizes. Determining the right mix of products for next year's sales forecast, minimizing risk while managing expenses, optimizing employee overtime scheduling, or managing supply chain disruptions are all insights that drive business decisions.
These examples are very high-level operational insights, but insights can impact more minor outcomes and still be valuable.
5. Building a strong foundation
When uncovering insights, there are a few best practices to keep in mind to make communicating insights seamless.
Always keep key business objectives in mind; leveraging your organization's shared language will ground your insights, easing communication.
Context is vital, and business objectives provide a great backdrop to begin adding context.
6. Support required
Business objectives are just a starting point.
Ensuring your audience gets enough supporting information to understand the scope of your findings means that additional background information is often required.
The same insight will look completely different for different stakeholders because of its impact on their roles and responsibilities. This means that ultimately aiming for a one size fits all approach will suit no one.
7. Keep it simple
It is important to remember that simple insights that are easy to understand and implement are much more valuable than complex insights that can’t be actioned.
8. Let's practice!
Insights drive business growth, and communicating those insights requires a strong understanding of your data and your audience.
Let's take a moment to reflect on data insights and cement your understanding.