FP&A Trends Digest: Issue #128
Issue #128 - 7 December 2024 |
| Dear colleagues, How do we transform a maze of numbers into a powerful narrative that resonates and drives action? This is the daily challenge FP&A professionals face: moving beyond data presentation to uncover the “why” behind the numbers. Yet, despite these efforts, only about one-third of FP&A's time is spent on high-value activities like data storytelling, according to the latest FP&A Trends Survey. It's time to change that. In this issue, we’ve curated the content that not only unpacks the nuances of FP&A Storytelling but also empower you to transform insights into effective decision-making. From distinguishing storytelling from visualisation to applying timeless narrative techniques, we explore how to connect the dots between data and strategy. We hope this newsletter will inspire you to make the most of your FP&A journey, turning data into stories that matter. Best regards, Larysa Melnychuk, CEO and Founder FP&A Trends Group & International FP&A Board |
| How Data Storytelling Differs from Data Visualization | Data storytelling and data visualization are often mistakenly considered the same. However, data storytelling is always explanatory, aiming to explain the story within the data using narrative and visual aids like graphs and charts. Data visualization, in contrast, can be either explanatory or exploratory. This is a particularly important distinction for FP&A professionals. Read this article for a deeper dive into how to strategically utilize each of these techniques and when to apply narrative structure to data to communicate strategic insights effectively by combining data, visuals, and narrative. | | The Power of Storytelling for FP&A Professionals: Beyond Numbers to Narrative Excellence | By Aurélien Nolf, VP, Head of FP&A at Lyft How can storytelling transform FP&A into a strategic powerhouse? What are the key steps to turning financial data into impactful narratives that drive decisions? How do leading companies use metrics and visualisation to tell compelling stories? Read this article to discover how to select meaningful metrics, maintain consistency, and harness the power of data visualisation to elevate your FP&A role and become a true strategic Business Partner. | | Why Should Business Storytelling and Fairytales Have Something in Common? | By Ivan Mitringa, Worldwide CFO Displays, Software & Client Peripherals at Dell Technologies Numbers alone rarely drive decisions—it’s the story behind them that truly resonates. Storytelling in FP&A bridges the gap between data and action, helping professionals present insights that engage Business Partners and inspire strategic outcomes. Read this article to explore how to give your numbers context, communicate effectively with non-financial audiences, and deliver stories that clarify performance and drive smarter business decisions. | | The Importance of Storytelling | By Deepak Bhandari, former VP FP&A and Strategy at High Liner Foods FP&A Storytelling is a powerful tool in today’s era of advanced analytics, dynamic dashboards, and impactful data visualisation. Crafting the right narrative can turn data into decisions and drive meaningful outcomes. This video introduces a compelling storytelling framework built around three core components: 'The What', 'The So What', and 'The Now What'. Learn practical tips to structure your presentations and create stories that truly influence decision-makers. | |
| FP&A Trends Digital Events |
FP&A Trends digital events are vendor-agnostic and complimentary. If you are not able to join the live session, you can register to receive the recording later. | | AI in FP&A: Navigating Complex Challenges with Change Management | AI has the potential to transform FP&A, yet only 6% of organizations have successfully adopted AI/ML in finance, according to the 2024 FP&A Trends Survey. The key to overcoming this gap is effective change management. Register for this Digital North American FP&A Circle for a senior panel discussion on how to navigate complex challenges in AI adoption. |
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