I love breaking down interesting charts. One of my favorite resources to help you make sense of charts is McKinsey’s Chart of the Day. Each day, they share a chart on a newsworthy topic, providing the perfect opportunity to practice. Here's a recent one on the global women's health gap: In our workshops, we like to teach people to think about charts using the 10-second test. Look at the chart above. Time yourself, 10 seconds. Can you understand it? If not, maybe it could be better. Here's a breakdown of what I see: What is working?
What could be better?
Once you start seeing opportunities like this, you'll never look at charts the same. Notice the charts you read in the news and other sources:
Remember, charts are an easy way to manipulate people or fit data into an existing storyline. Check out this blog on "How to lie with Charts." |
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I started StrategyU to teach knowledge workers the tools, frameworks, mindsets, and approaches that I learned in strategy consulting. When I started this, I thought that my audience would be people in big companies stuck inside strategy, finance, or analytics groups that didn’t have access to training. This was one of the segments that have found value in my work but a second segment that surprised me has been small and medium-sized consulting firms ranging from 5 people to 200. Over the last...
If you asked me what my favorite type of fruit was, I could tell you in two ways. Way #1: “Well, I like fruits with seeds. Sometimes they’re sweet; sometimes they’re sour. They have green leaves on the top. They’re pretty small, too.” You might respond, “you mean a strawberry?” Then I’d say yes, and you’d know my answer. Or, I could tell you another way: Way #2: “It’s a strawberry.” This is the simple way to explain top-down communication. From the listener’s perspective, it is much easier to...
"Strategy" is a word that attracts a lot of excitement in the business world. People who work on strategy get paid more and senior executives like to use the word a lot to talk about their decisions. In consulting, I worked with many companies helping them to develop strategies. Although these were often focused on different levels of the business and different topics, all of the "strategies" were similar. They each included: A synthesis of all of the relevant information about a company...