Importance of Data Visualization in Analytics
We are living in the era of big data where Data has been described as the raw material for business.
The volume of data used in businesses, industries, research organisation and technological development is massive and it continues to grow every day. The more data we collect and analyse, the more capable we become in making critical business decisions.
But with the massive expansion of data, It has becomes harder and harder for business to find key message from this universe of data.
That’s where the importance of data visualization comes in
Data Visualization is the presentation of data in graphical format. It helps people understand the significance of data by summarising and presenting huge amount of data in a simple and easy-to-understand format and helps communicate information clearly and effectively.
Humans understand data better through pictures rather than by just reading numbers in rows and columns. So if the data is presented in a graphical format, you are more able to effectively ask and answer these important questions as “What are my Sales and Profit Nos.?”, “How much is my Sales growth? Which client of mine is giving me more business?”, Where am I losing? Blah blah ……..
Data visualisation helps the business achieve their goals in the following ways–
Help business convert their data into interactive graphs, dashboards or maps and embed them on their website or blog to engage their customers.
The BI tool connects easily to nearly any data sources, be it a corporate Data Warehouse or Microsoft Excel or web-based data and helps the business with the insights by transforming data into visually appealing, interactive dashboards on the go.
The data visualisation tool supports a wide variety of tables, charts and graphs and grant the user the ability to visualise the same set of data in different ways thereby strives to create more attractive and informative dashboard every time.
I.e. there are many ways to present a simple Sales data – from a crosstab report to a Daily Sales Chart to Sales by Category by month. Different views answer different questions.
The tool also gives you the capability to look at data with a geographic element on a map and brings in an entirely new dimension in the analysis.
It helps the businesses make appropriate decisions by drilling into the data and finding the insights. I.e. Business can see the patterns, trends and correlations in the data being analysed that will tell them where they can cut cost, improve operational processes and thereby grow their business.
The Storytelling feature available in the data visualisation tool is an emerging art that shows that the data is just not about figures but it’s a way people see the world around them.
The tool allows user to organize and present massive data intuitively. This is very much important as otherwise the information is meaningless without a way to organize and present important findings from the data.
In this age of Globalisation, organisations are trying to expand their reach beyond geographical boundaries and there are required to make quick and informed decisions, this is best justified with data visualization tools.