Data visualization is a life-saver especially when it comes to business analytics and planning. It makes it possible to find relevance among millions of variables and communicate hypotheses to others. Of course, data visualization requires complete, valid and organized initial data for it to be useful, otherwise the visualization may lead to misconceptions. But here are three critical things that you are missing out on by not using data visualization tools at all.
- Data visualization helps grasp large amounts of information quickly.
In business, data visualization is used to demonstrate trends, gaps and anomalies. Using data visualization instead of dry presentations of numbers makes a report clear and eye-catching. The report becomes comprehensible and replicable. Visualizations are also more persuasive in comparison with textual format, which is so important in the business world and beyond.
- Collaboration is improved by data visualization.
New ideas are born through communication. When a team sees the trends and dynamics presented visually, they can come up with more creative solutions to existing problems together. A study conducted by Mindlab International revealed that employees are 17% more productive when they use visual maps and other illustrative techniques.
- Data visualization assists in the decision-making process.
Once the data is analyzed it provides business leaders with insights on business opportunities. It may demonstrate changes in customers’ behavior. For example, when a bank’s retail loans rise as a result of a successful social media marketing campaign, they can be replicated and aimed at other target groups as a source of growth.
Personalizing data visualization tools allows one to insert relevant charts on a dashboard in CRM or on the intranet site. It also allows for the creation of unique and attractive visuals for customers. Providing interactive data visualization on websites can increase traffic and time users spend on site. Ultimately, using data visualization in your business processes is not hard. All one needs is a good set of data to be visualized, and a devoted team of software developers who can help you in the quest for greater performance.