Posted: November 4th, 2022

How will you organize and share your data so that it tells a clear and compelling story?

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I need a response to my classmate below:
Good evening class,
Here is my feedback for this week.
What are the most critical elements of your data story that need to be communicated? Explain.
The critical story elements include the following:
1. Prove that low-value proposition differentiation among construction chemical suppliers exists and is a vital problem to address
2. Identify and provide the root causes of low differentiation
3. Demonstrate the impact of the problem on the company’s ability to sustain long-term profitable growth
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)
It is essential to provide relevant data that enables the audience to visualize and clearly understand the story behind the data. It is also vital that the data sets give a holistic view to allow the audience to view different parameters relevant to the problem.
Therefore, I will use several types of visual analytics, such as Bar charts, line graphs, and a combination of both in the analysis. Displaying data on separate charts tell you one story, but when combining bar charts and line graphs, we can visually display the correlation and impact of different parameters. And as professor Smith explained, supplementing charts with descriptions such as variance percentages will further reinforce the message (1).
Additionally, Pie charts will be instrumental in conveying the distribution/share of relevant parameters (2).
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.
In the following chart, we demonstrate the impact of low-value proposition differentiation on the performance of one of the leading suppliers in the market (3).
It is evident from the avove chart that low differentiation has significantly impacted sales and gross margin.
Another key indicator to observe is Cement sales development. Cement sales reflect the construction industry’s growth. Analyzing the sales trend of cement allows us to evaluate the impact of external factors like a market downturn on the sales of construction chemicals. And, as the following line graphs show, construction chemical sales decline is faster than cement.
Therefore, while there is a decline in market potential, the above chart indicates other factors that exacerbated the drop in construction chemicals sales.
One of the root causes is the decline in selling prices due to low product differentiation, which we displayed in the earlier DQ.
Another critical root cause is that the number of competitors has multiplied while the addressable market potential decreased in 2019 compared to 2013. The following Pie chart illustrates the increase in the number of competitors and the shift in market share distribution (3).
Thank you for reading.
References:
1. Dr. Bruce Smith. (2022). JWI599. Week Five DQ. Week Five Tips and Reflections Recoding
2. Davenport and Kim. (2013). Keeping Up with the Quants
3. Internal Report (2022). Market data obtained through previous employment. Proprietary and not publicly released.

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