Business Part 4 Flashcards
(15 cards)
What is stakeholder framing?
Presenting data in a way that aligns with stakeholders’ goals and priorities.
Why is it important to understand stakeholder goals?
To ensure your analysis informs decisions they care about.
What is executive-level communication?
Summarizing key insights in clear, concise, and strategic terms.
What is the difference between a metric and a decision?
A metric describes what is; a decision determines what to do about it.
What makes a good recommendation in a data report?
It is actionable, evidence-based, and aligned to business context.
What is data storytelling?
The art of conveying insights using a narrative supported by data and visuals.
What are components of effective data storytelling?
Context, characters, conflict, conclusion, and visuals.
What is a headline insight?
A concise summary of your most important finding.
Why use visuals in data storytelling?
To make patterns easier to understand and more memorable.
What is narrative framing?
Shaping the interpretation of data by how it’s introduced or contextualized.
What is a decision tree?
A model that maps choices and possible outcomes in a branching format.
What is expected value?
The average outcome of a decision based on probabilities and payoffs.
What is a scenario analysis?
Evaluating different future outcomes based on assumptions.
What is risk tolerance?
The level of risk an organization is willing to accept to pursue a goal.
What is the difference between insight and action?
Insight explains what’s happening; action defines what should happen next.
