Make Your Benefits Analysis Stand Out

Stephen Covey teaches that highly successful people [insert, consultants] "begin with the end in mind". This advice is helpful when creating a new benefits analysis. As you begin to collect your data and complete your analysis, try to envision how you will display and format the results. You want to make the data come alive to help your client make a decision. Logical decisions (math and facts) should be obvious. But don't forget to present the soft benefits, as well.

Three Ways to Get Inspired for Creative Data Visualization:

1. If you need a little inspiration, do a quick Google search for "data visualization techniques" and then click on the images filter. You'll have a lot to consider, although a lot of these examples will require advanced graphics tools to generate. 
2. PresentationPro.com has a wide selection of presentation diagrams, maps, and infographics (fully editable charts and graphs for PowerPoint). The infographics are professionally designed and will help you stand out above any competition using the regular tools.
3. News periodicals, like the Wall Street Journal, and magazines are another great source of fresh ideas for presenting information. With a little creativity and standard software, you can bring some of these these ideas to life. 

So, what if you don't have a creative streak, or a graphic artist on staff? The new Microsoft Office 365 (or Office 2013) builds its tradition of solid charting tools with brighter and cleaner looks.

Examples of bubble charts using Microsoft Office 365:

Bubble charts are useful for plotting three dimensions of data, in a single view. Consider using the following example in your next benefits analysis.

• You can emphasize the ROI Ratio of a given set of solutions from different vendors [Figure 1], or for separate components (products) within a single vendor's offering.
• (X) = Cost,
• (Y) = Estimated First Year Benefits (i.e., net profit), and 
• (Z) = ROI Ratio (to control bubble size)

Figure 1: Investment Analysis Visualization
(Bubble Size = ROI Ratio)

In the fictitious example above, option "A" has the highest ROI Ratio (largest bubble size). The midpoint of the x-axis represents the point at which any projects equal to, or exceeding, this cost must go to a capital committee for spending approval.

• Alternatively, you could use the bubble chart to emphasize the expected benefits (performance gains) [Figure 2]  while projects that use more resources, or take longer to implement, are plotted farther to the right on the x-axis. 
• (X) = Complexity to Deploy, 
• (Y) = Total Project Cost, and 
• (Z) = Estimated First Year Benefits (to control bubble size).

Figure 2: Investment Analysis Visualization

(Bubble Size = Estimated First Year Benefit)

In the fictitious example above, option "A" has the highest expected first year benefit (largest bubble size), and the smallest project complexity (e.g., implementation time in months). The vertical tick marks of the x-axis could be decision points at which projects, or optional capabilities, might get pushed to a later deployment phase.

Remember, an executive summary should be brief, but comprehensive. If you are including the analysis in a consulting abstract, be sure any supporting data and analysis are included in an appendix. While executives look for the bottom line analysis in any kind of presentation, they still want to see the detailed analysis for their own due diligence.

There are many ways to display the results of your benefits or investment analysis. No matter which options you choose, make sure your data visualizations communicate a clear and concise message.

Copyright © 2013 | Howard Leary