For over five years now, I have struggled with what I believe to be one of the greatest struggles of the writers. How do you make numbers mean something to your readers? As an engineer, I love numbers and often find myself filling my articles with endless data and statistics.
But I know that they don’t have the same impact without a story behind these numbers. I have written pieces where, due to the volume of information, the article seemed to make little sense-there were enough numbers but too few stories to bring them to life. How, then, do we take cold data and make it into something that matters?
To explain this more, I will use an example from Aswath Damodaran, a respected NYU professor who teaches corporate finance and startup valuation classes.
Damodaran says that story and number is interlinked when it comes to valuing startups. Number provides the quantitative foundation, but it’s the story that shows what lies behind those numbers and brings life and relevance. Numbers don’t say much without a good story, and a story is not very credible without good numbers.
The best startup valuations are a beautiful dance between the two, where numbers support the story and the story gives meaning to the numbers. You can watch Professor Aswath’s lecture here to understand his concept of the relationship between numbers and narratives.
So, what is the best way to write analysis-based articles, especially when numbers play a significant role? Here are some key points to consider:
Principles of writing with numbers and narratives
Numbers need to be balanced with storytelling. Augment the numbers with the story of what those numbers say. Give a perspective on the “why” for the “what.”
For instance, rather than saying, “Company X increased revenue by 20%,” say what’s driving that increase—expansion into new markets, launching innovative products, or strategic partnerships.
For instance, in one of my articles about the top companies from the Dar es Salaam Stock Exchange (DSE) that have adopted new ways of working, I have put a lot of data and statistics from their financial reports.
Additionally, I explained the story that connected the numbers with narratives, as numbers alone do not validate the explanation from the reports. You can read the article below to understand more.
READ HERE: Who’s Embracing Modern Work Methods at the DSE? A Case Study of the Top Five Companies: Part 1
Real-Life Examples: As I did above with Aswath Damodaran, examples provide the reader with real-world context and put some life into the data. Since people can relate more to stories than some abstract figures, anecdotes or case studies where relevant are merited.
Make Data Digestible: Avoid bombarding your readers with long, endless tables or dense charts. Whittle the most significant numbers down and start writing your piece about what those figures mean in context. Clear explanations will always win over data dumping.
Use Stories to Lead into Data: Begin with the narrative to lead into the data you will show. Stories capture attention; readers want to learn more about the underlying numbers behind the story unfolding before them.
Don’ts of writing with numbers only
- Do not trust statistics only; they can give a one-sided picture. Try not to offer raw data only without its interpretation. This is what the readers are in search of, as opposed to statistics only.
- Never lose sight of the human factor: Whether you are doing corporate performance analysis, social impact assessment, or market trend analysis, there are always human stories behind every number. The lack of it makes your analysis cold and out-of-touch.
- Don’t Ignore the Big Picture: It is pretty easy to fall into traps of being lost in minute details of the numbers, but always connect it to the big story. How will these numbers add to the overall telling? What could be the wider ramifications?
My Personal experience with numbers and narratives
At Nafasi Art Space, I have watched this interplay of number and story in action as we have learned to use both to convey the full scope of what we have achieved to donors.
Financial reports are just as important as narrative reports in grant reporting alone. While the financial reports outline how the funds were spent and offer accountability, the narrative reports tell the human stories of the artists empowered, communities reached, and cultural contributions made.
Both reporting forms will give a full picture of the impact created. Just as in nonprofit reporting, the numbers do not tell the whole story.
Donors want to know that their money serves a purpose and makes a difference, which requires, again, much more than financial transparency.
It requires telling stories of how lives have changed, projects have been developed, and the impact has been brought to culture.
The best analysis-based articles marry data with storytelling. A number is dead without story, and vice versa. Stories are not cemented without numbers. That’s where the writer comes in to merge the two in a way that informs and engages the readers.
My question is, with your writing, are you telling the complete story behind the number, or are you allowing the numbers to tell their own story without context?