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Role of Visual Analytics in Business: Overview

Those of us who don’t deal in analytics daily don’t know about the importance of visualizing data. We can’t get enough of it! We perform visual analytics to reach actionable insights to fuel our business decisions, making it extremely critical.

But how exactly do you get to that insight? The answer is with the help of data visualization.

It allows you to present the data and insights understandably generated by the analytics engine to the end-user. An end-user could be anyone: the CEO, operations manager, or board of directors.

It underlines the importance of visualizing data. Through insights, almost every decision-maker uses it within the organization to arrive at their decisions. Visual representation has moved beyond the realm of pie charts and bar graphs. 

Visual elements now include sophisticated heat maps and colour-coded features. Another important factor is that visual representation makes the data more interactive for the end-user. Hence, allowing them to delve deep down into the data sets. Also, without losing their way and emerging with actionable information.

Essentially, visualizing data helps bring out the key points arrived through analytics. It helps present the numbers and figures to make sense to the end-user. Visual improvement enables decision-makers and analysts to digest massive amounts of data. Also, help spot critical trends and patterns in the business landscape.

The Importance Of Visualizations In Analytics

Visualizations can be static or interactive. Users can get a single view of what’s in front of them with static visuals. They can also drill down into data and extract and explore numerous viewpoints on the same dataset. By using interactive visuals and selecting individual data points they can get a better-visualized format.

Data visualization helps your business by providing clarity to data-driven insights, and it’s what enhances understanding throughout an organization. By finding underlying models and trends and projecting demands, analytics serves as a source for representing data in visual form and adds to the health of every organization.

Analytics And Visualizations – Key To Data-Driven Organizations

Data visualization and visual analytics have a symbiotic relationship. In a US Department of Homeland Security study, James J. Thomas and Kristin A. Cook illustrate this relationship in the analytical reasoning process “The Sense-Making Loop.”

Visual analytics can be more successful and deliver people better insights with improved graphs. Combining the two into visual data analysis allows people to comprehend their data better. They also work together to help businesses and individuals figure out how to be more efficient. Not only confined to this, but they can also generate more income, and get a competitive advantage over their competitors.

Why is Data Visualization considered the Backbone of Analytics?

Without the proper representation of data, it would be impossible to derive actionable intelligence from any data.

  1. Digest information quickly – The business landscape continuously evolves, with data playing a key role in that evolution. Although, it depends on how fast the information or actionable insights get to the end-user. But, the ideal technique for visualizing data helps illuminate key points in any data set and fuels decisions.
  2. Focus on Patterns and relationships – When appropriately presented, even vast amounts of data start making sense. It allows decision-makers to identify relationships and patterns within the business, and the general business landscape. Also, it is easier to make market predictions. Consequently, businesses can develop critical growth strategies. It also helps businesses focus on areas that matter and contribute to the company’s growth.
  3. Know the trends – It helps present an eagle-eye view of data about the business and its operating landscape. The decision-makers can pinpoint the trends by analyzing past data or predicting the future. Also, they can identify emerging trends that, in turn, help businesses in making the right decision at the right time. It will also help to ensure future growth and get a competitive edge over the competition.
  4. Become a storyteller – The best part is it helps analysts tell a story with their data. Once the data points that need to be presented are ready, visuals help analysts communicate the insights using visual storytelling. The end-user can also interact with the data at a deeper level. Also, he can comprehend things much more quickly than reading through simple data strings.

Making Better Decisions With Visualizations

Data for power visualizations is gathered from a variety of sources. They might be structured data from relational databases like Excel or unstructured data from text, video, audio, photographs, the internet, and mobile devices.

This information is collected on-premises or in data lakes or cloud data warehouses. Users may make better data-driven decisions by transforming them and sharing them via dashboards. Data and business & analytics teams have the task of choosing and developing the best way to visualize data. 

They also create well-organized dashboards to aid end-user decision-making.  Dashboards must be simple to understand, quick to interpret, and easy to drill down into for more information when needed. 

To do so, you’ll need a data and analytics platform with a powerful combination of visual analytics and visual representation of data.  Also, with the ability to manage massive volumes of data stored on-premises, in the Cloud, or both.

Conclusion 

You require the visual representation of data since the human brain is incapable of processing large amounts of disorganized data. Also, it becomes better to convert it into something meaningful and understandable.

Graphs and charts can help to communicate data results so that we can spot patterns and trends. It will also help to make smarter decisions quickly. You’ll need a seamless combination of visual analytics and data to get the most out of your data. As a result, you can maximize the benefits of your BI and analytics.

Both are critical, yet neither can function as effectively without the other. Together, they play a vital role in analyzing and understanding your data.  They enable you to shape a successful future strategy for your organization using their insights.

Thinklayer offers state-of-the-art data visualization services that complement your existing analytics engines. We also fuel business decisions with actionable insights. Our team recognizes the value of data and what it means to our customers. 

We give clients easy-to-use and attractive visual capabilities and tools. These tools can help them see their data clearly and understandably. We also ensure that our clients have everything they need to make fast, informed decisions based on reliable, easy-to-understand data.

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