Communicating Effectively with Words, Numbers and Pictures: Drawing on Experience

Duklan, KarolinaMartin, Michael2002-06-062004-05-192011-01-052004-05-192011-01-052001Duklan, Karolina and Martin, Michael A., "Communicating Effectively with Words, Numbers, and Pictures: Drawing on Experience" (2002). Journal of Actuarial Practice 1993-2006. 46. http://digitalcommons.unl.edu/joap/461064-6647http://hdl.handle.net/1885/40089A key requirement of all actuarial practice areas is the ability of the actuary to analyze and communicate complicated information effectively. Successful actuaries require not just excellent technical skills, but also highly-developed communication skills. Actuaries work at the interface of a broad cross-section of disciplines. Effective communication between the actuary and other professionals can prove the difference between success and failure for users of the information actuaries provide. Clients expect actuaries to resolve difficult technical problems, but they also require answers that are easy to interpret and implement. We discuss techniques for developing such skills, focussing in particular on technical writing, presentation and the use of graphics as a tool for communicating ideas effectively. Learning the principles of effective communication should form a critical part of an actuarial education. The key principles of effective communication are: • Identify your audience, consider their needs and abilities; • Focus on substantive content; • Choose appropriate communication tools; • Use “language” that is simple, concrete and familiar; • Integrate text, numbers and graphics; • Respond to information complexity creatively. We focus in particular on the use of graphics as a communications tool. Graphics are very efficient and potentially highly effective tools for conveying information. Understanding the principles of good graphic construction is essential for conveying information in a way that is accurate and aesthetically appealing. We also describe several common errors in graphic construction – and how to correct them – using real graphics from the business world.This work was carried out with financial support from the Faculty of Economics and Commerce Summer Research Grant Scheme51 pagesapplication/pdfen-AUcommunications skillserrors in graphic constructionpresentation skillsstatistical graphicstechnical writingCommunicating Effectively with Words, Numbers and Pictures: Drawing on Experience2015-12-11This Article is brought to you for free and open access by the Finance Department at DigitalCommons@University of Nebraska