Quite than specializing in numbers and statistics, information storytelling means that you can translate numbers into insights which might be extra simply understood and could be built-in into higher decision-making.
I come from a protracted line of storytellers. Rising up, household gatherings have been at all times filled with a colourful solid of characters competing for consideration. As a toddler, I listened intently and soaked up the teachings realized over a lifetime from the experiences of my elders.
Tales have at all times performed an integral position in human historical past. Tales possess the ability to affect, to create change in addition to to show and assist others perceive complicated ideas.
Lately, researchers on the London Faculty of Enterprise discovered that folks solely retain 5 % to 10 % of the data when introduced in a statistical method. Nonetheless, when introduced in story type, people remembered 65 % to 70 % of what was communicated. As a result of tales assist to create an emotional connection, they play a robust position in influencing the outcomes of our human interactions.
What’s information storytelling?
Information storytelling is the method of making a narrative from complicated datasets to speak a particular message extra successfully. Quite than specializing in numbers and statistics, information storytelling permits the communicator to translate these numbers into insights which might be extra simply understood and might then be built-in into higher decision-making.
Miro Kazakoff, an MIT Sloan lecturer who teaches communications and information storytelling as a part of MIT’s Grasp of Enterprise Analytics curriculum, says, “In order for you folks to make the precise choices with information, it’s a must to get of their head in a method they perceive. All through human historical past, the way in which to do this has been with tales.”
Telling good tales
As with all good tales, creating the plot or setting the stage is a main important component. Start by creating a principle or posing a query. This usually begins with primary information evaluation to determine an space the place additional investigation could be useful. Accessing up-to-date and correct information is useful in posing one of the best questions, thereby leading to probably the most correct conclusions.
Information visualizations assist to deliver context to the numbers. By working with numerous sorts of visualizations, similar to charts, maps and tables, customers can extra successfully discover the information, monitor adjustments and produce useful explanations to traits or adjustments over time.
As an example this, simply envision your self working with a number of spreadsheets and trying to extract which means or perception from the hundreds of numbers contained inside these spreadsheets. It’s not very straightforward for many of us to kind via. Now, think about that very same information displayed in colourful, organized visualizations. Patterns, traits, and correlations start to organically emerge. That’s the ability of information visualization.
How can storytelling enhance agent recruitment?
Whereas there isn’t a doubt that actual property is a folks enterprise, rising applied sciences are being adopted at a fast tempo. Historically, companies may depend on mushy expertise similar to empathy, problem-solving and good communication as a method of constructing and nurturing long-lasting relationships. Whereas these expertise are nonetheless related, the panorama is evolving, and brokers are on the lookout for extra from their brokerages.
In an effort to remain aggressive, many companies have began providing extra aggressive fee splits, entry to the most recent tech options in addition to numerous different incentives. Whereas appreciated, brokers are additionally anticipating leaders to grasp their enterprise wants and to offer an atmosphere the place they are often coached and supported to the subsequent degree of their careers.
Approaching agent recruiting conferences outfitted with manufacturing information is an effective preliminary begin. Nonetheless, going past historically utilized metrics similar to annual manufacturing and year-over-year adjustments helps to make interactions extra significant and related. Contemplate the affect in your interplay with an agent when approaching them with a deep understanding of their struggles, challenges and areas of alternative.
Anthony Lamacchia, broker-owner of Lamacchia Firms, Inc., mentioned, “Creating information factors and monitoring key efficiency indicators is one thing we now have been doing in our enterprise for a number of years. We’re nice at doing that on an organization degree, however we just lately started to do it even higher on an agent-to-agent foundation.” Letting brokers know that you simply’ve achieved your homework and that you simply perceive their wants helps them really feel assured when contemplating a brokerage change.
Whereas one doesn’t have to earn a level in information analytics to interact in productive data-based conversations, having a working information of the assorted information visualization strategies accessible in addition to a primary understanding of information interpretation, will go a good distance in constructing confidence and nurturing relationships for a very long time to come back.
Diana Zaya is the vp of gross sales and advertising and marketing and one of many founding group members of Relitix, a knowledge analytics firm specializing in using information science purposes similar to machine studying, massive information analytics, and information visualization for agent recruitment and retention. Join along with her on LinkedIn, Twitter and Instagram.