This week we take a virtual trip to Chicago where we have a chat with a company called Narrative Science. Their AI-powered software is pretty clever - it ingests data - think financial data or marketing/fundraising performance data - and it automatically generates stories about the data. In effect, it looks at the data and identifies useful trends, observations, or projections from the chart. It uses AI in the form of natural language generation to craft the text stories about what it sees in the data.
The whole idea is that for most humans its easier to “get” what a chart is presenting if there is a simple explanation alongside it to point out the key insights. So a line graph showing how fundraising revenue is changing over time might have several stories that accompany it - where revenue started and ended in the period. The peak periods ex. End of year fundraising, and the predicated revenue for the next year which the software extrapolates from the data and graph.
The key is that it makes the ~80% of data that is collected and unused, become actionable. Actionable here means the organization adapts its plan or strategy based on conclusions from the data they collect and analyze.
It’s pretty powerful stuff and definitely could be useful for nonprofit finance, fundraising, marketing, and communications teams. And perhaps other departments.
Narrative Science has created a Storytelling for Good program where they are providing their software, support, and training to nonprofits for free. So its a great opportunity to try on the software.
So give this episode a listen. We provide more details on the product and its applications and share the details on how your nonprofit can get involved in Storytelling for Good free program.
As always, if you have feedback or questions, reach out to me directly at email@example.com.
With that, enjoy this week's episode.