Why is Storytelling Popular in Business?

Storytelling in business settings has become extremely popular over the last decade. Storytelling has weaved its way into all facets of data analysis, branding, marketing, and advertising. Stories are nothing new, so what has caused it to find its way into all departments?

Here are 5 key drivers that have increased usage of storytelling in data settings.

Why is Storytelling Popular in Business?

Overwhelming amount of data

The size of datasets you are working with increase every second. Numbers continue to roll-into CRM systems, campaigns, and Google Analytics. This creates a large imbalance in time to analyze versus the amount of data collected. As a result, analysts are forced to synthesize data into themes and small stories, rather than create hundreds of pages of charts and graphs that may never be seen.

Limited time

Everyone feels busier than ever before. At the same time your managers and clients most likely do not have the time to sit through all of your analysis. Businesses are looking for brief and succinct conclusions from data to provide strategic direction.

Attention spans

We've all seen the graphic showing that a goldfish's attention span lasts anywhere from 7 to 10 seconds. Meaning every 7 seconds the life of a goldfish starts over again. We live in a fast pace world of distractions. Not to say your managers and colleagues are goldfish but you should think they are when framing your presentation. Emphasize the key points and engage them.

Numbers people and everyone else

There are two types of people in this world, those who love numbers, and those who don't. As analysts, we have to cater to the latter. Make your insights easily digestible.

Stories make an impact

Data can be ​boring, especially if it's part of a regular and routine meeting. It's up to the presenter to add some fresh information or insights. Using stories and creating personas can help add engaging content and life to your numbers. This is the type of information that will be remembered and emerge into takeaways. Not everyone will remember that 67% of your customers are satisfied but they will remember the story about a customer called "Sean" which you created to communicate those insights into a relatable theme.

Drive Research is a market research company near Watertown, NY. Questions about how we can help your business with your market research needs? Email us at info@driveresearch.com or call us at 315-303-2040.

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