As your business accumulates more and more data, it becomes more and more difficult to browse through them to extract relevant information. Even with advanced tools at your disposal, such as artificial intelligence or machine learning, there is a massive influx of information to assimilate. It becomes necessary to organize the evidence into larger datasets that you can visualize at a glance, namely exactly where the data visualization play.
Data visualization is a general term for a process used to better understand data sources in a visual context. Different patterns, trends, ideas and correlations can be gleaned and recognized much more easily and quickly. This is mainly thanks to special tools or data visualization software.
Although incredibly old, this infographic gives a glimpse of data visualization in action. In reality, it's ingenious to break down data visualization into the visual format it calls.
Overall, data visualization has grown significantly in recent years. Instead of simple graphics or graphics, cases and laws can be used to create very sophisticated displays such as infographics, sparklines (small graphs to quickly represent a number), heat maps, geographical maps, fever graphics and various graphics.
The data visualization process not only helps to better understand the data, but also facilitates the use of large data applications .
Data is the spice of life (business)
According to Experian, 95% of American organizations use data to generate business opportunities while 84% think data is an integral part of their business operations and strategies.
Being an integral part of the operations, it is logical that the data is organized in a convenient and precise way, so as to facilitate consumption. But beyond that, what are the benefits of a solid data visualization strategy? What can he do for a company? Here are nine examples.
1. The visualized data can be processed more quickly
The human brain is designed to process visual content and information much faster than text. In fact, researchers at the Pennsylvania School of Medicine discovered that the retina was able to transmit data at about 10 million bits per second . Since the retina is technically part of the human brain, it means that we, as a species, can capture visual information much more quickly and efficiently.
This faster rate does not only lead to faster ingestion and treatment, but also to faster action. If you can discern information faster, you can also react much more quickly to what is happening in the real world. By pushing this further, you can use incoming data to make more forward-looking decisions.
2. Visualization may reveal hidden or missed opportunities
The more you look at a dataset, the more useful it is. More importantly, you can discover ideas and trends that would otherwise have been missed or hidden. Some data – especially exploitable data – is particularly useful for people in trenches. Because they work every day with a particular process, customer, or tool, they are better equipped to find problems or problems that can be solved. Your daily user can use incoming data to improve their performance or work habits. incredibly valuable in any commercial environment.
The visualization process can naturally make complex and sophisticated data stores easy to read, even for the layperson. These visual and artistic renderings make it easy for people who do not understand raw data such as executives and C-Suite managers to be presented.
3. Visualization Increases Productivity
Leveraging raw or rough data sets and making them more readable at a glance can help improve productivity as a whole, not just for scientists and data analysts. You will increase productivity and help everyone who is going to have an eye on this information.
Even better, data can be scanned faster, allowing information to be revealed much more quickly. In fact, Aberdeen found that companies that use visual data discovery tools are 28% more likely to find current information than those that do not. Again, this translates into faster reaction times and more robust opportunity points.
4. This improves the veracity of the data
The data is of no use to anyone unless it is accurate or reliable. Reliable information is particularly important in certain sectors such as health, marketing and even construction. Having the wrong data can be very detrimental. In the case of drugs, for example, it can even cost lives. This is where the veracity of the data comes into play, one of the big five "V" data .
Visualization plays an important role as it can help analysts and data managers deepen their search of the information repository (stores). This results not only in new opportunities and new perspectives, but also in more accurate representations of what is included in a dataset. Before you can process, clean, and organize large volumes of data, you must be able to fully understand them. Visualization simply makes it happen on a larger scale and at a much faster pace.
5. You can monetize your data
It is pretty obvious that over time you will build an incredibly large stock of data and information. Much of this data storage does not seem useful to you. However, this does not necessarily mean that your data storage needs to sit on a hard drive or server that collects digital dust. Instead, you can monetize the data you have by creating more useful forms of visual content.
You already have data – you are probably sitting on a huge gold mine. Why not monetize this "gold of data" to extract the real value and integrate it into your business?
It takes five simple steps to create a salable product from your data stores.
Take your time to organize your data and conduct research.
Then determine a price and finalize your product.
Visualization of data can create opportunities and present new markets within your own business.
Your information stores will simply allow you to share content and information with third parties that would otherwise have no use of raw data. Think: all new customers.
6. Improvement of business operations and customer knowledge
The performance of your operations and the relevant information provided by your customers are two pieces of data essential to the success of a business. With performance data, you can ensure that your entire organization runs smoothly from top to bottom, and you can even make adjustments to improve results. With customer insight, you are better equipped to give your audience what they need with your products and services.
Both concepts are remarkably simple, but collecting the necessary data and understanding them is not so simple. Data visualization can help keep data understandable by highlighting new connections as they occur between business operations, performance, and customer sentiment.
For example, you can get information earlier about a particular product or campaign that does not work. In turn, this allows you to adjust accordingly, with detailed information on what will help you.
7. Best interactions and innovative presentations
Conventional one-dimensional arrays and paper charts are good for one thing and one: look. You have the graphic or visual in front of you and all you can do is read it – good or bad.
However, with data visualizations, this is a much more interactive and dynamic experience. You can present datasets in a new and interesting way. Most importantly, you can include interactive components that allow users to manipulate and manipulate information in real time. " Why Do Busters Bunch " is an excellent example of interactive and entertaining visualization. This makes the data itself more memorable and easier to maintain for those involved in the experiment.
8. More profound personalization
You can only present a conventional graph or graph in several ways. But with data visualization, you have access to a wide variety of options, many of which include their own customizable elements. Even when using the same datasets, you can create two remarkably different visualizations depending on the type, methods, and visuals you use.
This is a small part of what helps to unleash hidden perspectives and potential. You can take information and examine it in a new and new way, far beyond anything that is possible by conventional means.
9. Unlock a better collaboration
As visualizations are easier to read and understand, it means that more people can be involved in analytic processes. More importantly, having access to dynamic and active systems used in data visualization offers much better opportunities for collaboration. You can involve more teams and work more effectively with others using data visualization software.
Empowering your teams
In the end, visualizing data – like any other form of data processing – involves diving deeper into the information and data stores that you have at your disposal. It's not just about making the information more readable and easier for analysts and line managers to present; it's about empowering your entire organization. So, you can present and share content with all of your people, even those who might not otherwise understand the data in their raw form.
Knowing all this, you can understand why viewing the data as a whole is very beneficial and important to the success of your operation.