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by | Nov 4, 2022 | Business and Management

 

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I need a response to my classmate below:
My DQ response for this week is below:
What are the most critical elements of your data story that need to be communicated? Explain.
The critical data elements will include the elements discussed by Duarte and as listed below (1):
The Data Story which is to invest in enhancing the document management module of Neocase Software for integration and to gain a bigger market share of the document management playing field
The What – Integrated electronic document management allows for centralized access, and secure administration of digital personnel documents from disparate systems
The Why – Currently, no players with integrated EDM. As companies use more than one HR application to provide services, the need to integrate documents from different applications is increasing. It helps improves operational efficiencies for our customers as HR spends less time looking for documents, organizations looking to provide remote HR service and to an increasingly remote workforce
The How – Build an API to bring documents loaded in any HR application into an employee’s digital folder in Neocase’s EDM module. Budget allocation to secure and engage product development teams to focus on building integration capabilities.
Assumptions – no early disruptions in the marketplace for an integrated EDM.
Part of the data story will use the measurement of abstract nouns via customer surveys of Neocase’s customers. As stated by Duarte, it is trickier to measure, for example, how long it takes for a customer to access all the necessary personnel documents to provide a service to an employee (1). The answer can depend on the employee relations issue itself, where the relevant documents are stored, and the ease of access. A survey of Neocase’s customers can add to the data that we get from other sources to build a business case and a story to invest in integration capabilities for document management.
Supporting data will show commitments made by competitors in documentation integration capabilities, market share and projected growth for document management, and survey data from Neocase’s customers, customer account, and sales representatives.
How will you organize and share your data so that it tells a clear and compelling story? (See p. 107 of Davenport & Kim for a list of types of visual graphics used to present data)
The data will be organized and shared using 1) Bar charts where the length of bars represents the past and projected growth rate for document management systems in North America (2). 2) A tag cloud visual will also be used to collect answers from surveying customers and sales representatives to indicate the pain points or frequently used terms with EDM features (2; 3).
Select two data display techniques discussed by Duarte in Chapter 6 and/or Chapter 7 and use them to present two important data sets from your analysis.
The bar chart display includes some of the techniques discussed by Duarte (1). Writing an observation over the chart title to highlight the importance of the data set. Differentiating and highlighting important data points.
Observation: Stronger projected growth Y-O-Y doubling by 2029
Title: Market Size of Document Management in North America (USD Billions)
The animated chart technique from Duarte’s example will also be used to scale and bring an emotional impact to the data being presented (4).
References:
Duarte, Nancy. 2019. Data Story – Explain Data and Inspire Action Through Story.
Davenport, Thomas H & Kim, Jinho. Chapter 4 – Communicating and Acting on Results. Keeping Up with the Quants: Your Guide to Understanding and Using Analytics. https://blackboard.strayer.edu/webapps/blackboard/execute/blti/launchLink?course_id=_488572_1&content_id=_41844840_1
TagCloud Examples. https://www.nngroup.com/articles/tag-cloud-examples/
Animated Charts. Duarte. https://www.duarte.com/wp-content/uploads/Animated-Charts.pptx

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