Knowing your numbers is a good starting point for an FP&A professional. But it is also required to know how to present the findings to others.
We are all storytellers in a sense but FP&A stories need particular skills to be great. In an era led by technology, data and automation, where do the stories fit? How will the FP&A stories of the future be told? What are the skills needed to be a great FP&A storyteller?
University of Pennsylvania researchers report that the human retina processes data at approximately 10 million bits per second. That’s awfully fast compared to a typical adult reading rate of about 400 to 600 words per minute. There are many advantages to visualizing data, aside from speed.
The purpose of financial planning and analysis is not to build perfect forecasts and financial solutions. The purpose is simply to make better business decisions. Numbers themselves can support decision-making but the story is what convinces people to make the right decision. This article will discuss best practices in data visualization that resonates with financial and non-financial people alike.
Today’s world is characterized by information overload and attention deficit. The amount of data being created, processed, and hence available is exploding. More data was created in the last 2 years than was created since the beginning of humankind.