How Data Insights and Data Storytelling Can Help Your Business

How Data Insights and Data Storytelling Can Help Your Business

Business success requires the ability to overcome obstacles effectively and efficiently. To truly solve a problem, however, you must fully understand its root cause.

We developed our Lightning Data Intelligence (LDI) service with this goal in mind. LDI allows users to drill down on their data, and extract the specific information needed to solve their business challenges. This affordable and time-efficient tool then uses data storytelling best practices to break information down into relevant, easily digestible visuals and simple text. Through clear visual representations and concise recommendations, complex problems suddenly become easy to understand – letting our clients put efficient solutions in place.

LDI expedites the decision-making process by showing users the right areas to focus on. This is precisely what we did for a company which we will call was struggling to address their high staff turnover rate, but couldn’t determine why so many employees were leaving. We helped them better understand their main personnel issues, so they could begin solving the most pressing problems straight away.

A deep dive into the issue

After running the company’s data through our LDI process, we found that their turnover problem was in fact much worse than the company had imagined.

YTD turnover for reached 76.21% by the end of 2018 – slightly worse than the year before. With so many people leaving the company, was forced to continually re-train and re-skill new recruits. Turnover costs reached nearly nine million baht that year, a considerable expenditure just to keep treading water.

The deeper we dove into the data, the more we found. Our LDI analysis revealed that the main drivers for this turnover were new hires resigning before the completion of their probation period.

Over the two years leading up to our analysis, 50-60% of staff exiting the organization were probationary employees. These resignations alone set the company back by 4.8 million baht in 2018 – meaning that probationary employees contributed to more than 50% of the turnover cost.

As it turned out, over the previous 2 years, 50-60% of the turnover problem occurred with probationary employees, with over 25% of probationary employee “exiters” leaving the company within their first week. By looking more closely, our LDI system also identified significant gaps in the data. Indeed, some employees received training and then exited before they were fully entered into the system. In other words, turnover was actually being undercounted.

Tackling the turnover problem

Our LDI analysis made it clear that there were flaws in the recruitment process, which our client needed to address. After simplifying the data and highlighting the visuals, our data storytelling helped the executives at quickly conceptualize the scope of their turnover problem – and gave them the jump-start they needed.

With our support, took the first crucial steps towards lowering turnover. 

The company investigated its hiring process and examined exit interviews to identify people’s reasons for leaving. In addition, raised their required qualifications for applicants, in order to ensure high-quality hires. They also increased their efforts to provide job candidates with information that was accurate, sufficient, and relevant. These efforts were actively complemented by management, which provided greater support for onboarding processes, and worked on improving internal supervisor-to-employee ratios.

Leading the way with LDI

The right data insights can help your business quickly identify and solve many of your business woes – including but not limited to high turnover rates.

As seen in the example above, Lightning Data Intelligence translates data into a narrative that our clients can make sense of. Deliverables include key insights, trends, and recommendations – no matter what your company’s current obstacles might be. We help companies improve their resource allocation, overall efficiency, and upskilling processes, so they can solve their most pressing issues.

To learn more or schedule a demonstration of our LDI and data storytelling service, contact AMPOS today.

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