Stakeholder Data Reports (Factbooks)
Becoming a true data-driven organisation means using data as a key underpinning of your engagement with stakeholders and one of the simplest and most effective ways to do that is through a Stakeholder Data Report (also known as a Factbook). This can be a standalone publication, a section in an existing report, or a regularly updated web site. Making it a success means following a small set of common rules:
1. Small number of insights and explanatory analysis of each one
Too much data loses readers, and with stakeholders that becomes even more complicated as their interests and data-literacy could vary widely. A good stakeholder report picks out a handful of key insights (between three and seven is ideal) and explains each one in an accessible but knowledgeable way. Accessible by using plain language, knowledgeable by covering important concepts such as sample size or margin of error.
2. Insights that connect with your stakeholders
You need your stakeholders to feel a connection with the insights that you produce as that gives them a connection to you. Conversely, if you produce insights that have no connection to them then they will suspect that you do not understand them or are oblivious to them. Good examples of insights that make a connection are:
- Explain why the organisation has taken certain actions
- Identify a problem that stakeholder may be suffering from
- Predicts the likely future in a way the stakeholders can act on
3. Contextualise your data with industry, national or global data
It is important to remember that stakeholders view your organisation as one of many and as part of a specific industry and in either a national or global context. That view should be addressed by contextualising your data with other data drawn from the broader industry, or your country or globally, to provide comparisons and trends. Examples of this include:
- Total number of employees or total value of all customers/stakeholders using data from a national statistics body.
- Change in global indicators, which your work contributes to such as the number of people lifted out of poverty.
4. Demonstrate the value of your organisation and its mission
This is about finding measures of the things your organisation has done, as part of its mission, that have provided direct value to your stakeholders or to their missions.
For example, if your mission includes fighting cybercrime then include a statistic on how many bad sites you have taken down (your actions), and then use external data to estimate how much money lost to crime your action has saved and show that.
How we can help with Stakeholder Data Reports
- Write the report for you
- Identify the key insights
- Find the appropriate external data to provide contextualisation
- Recommend statistics that will demonstrate the value of your organisation
- Measure and review the effectiveness of your existing data reports