Data Visualization – The Backbone of Analytics
Those of us who don’t deal in analytics on a daily basis don’t really know about the importance of data visualization. Those of us who do, can’t really get enough of it!
We perform analytics to reach actionable insights to fuel our business decisions, making it extremely critical. But how exactly do you get to that insight? With data visualization. Data visualization allows you to present the data and insights generated by the analytics engine in a manner in which it is comprehensible to the end user.
An end user could be anyone. The CEO, operations manager or board of directors. This underlines the importance of data visualization. It is used by almost every decision maker within the organization to arrive at their decisions, through insights.
Data visualization has moved beyond the realm of pie charts and bar graphs. Visualization elements now include sophisticated heat maps and color coded elements. Another important factor is that data visualization makes the data more interactive for the end user, allowing them to delve deep down into the data sets, without losing their way and emerge with actionable information.
Essentially, data visualization helps in bringing out the key points arrived through analytics. It helps present the numbers and figures in a manner in which it makes sense to the end user. Data visualization enables decision makers and analysts to digest massive amounts of data and help spot critical trends and patterns in the business landscape.
Without proper data visualization, it would be next to impossible to derive actionable intelligence from any data. So, here’s why data visualization is considered the backbone of analytics:
- Digest information quickly – Business landscape is continuously evolving, with data playing a key role in that evolution. How fast the information or actionable insights get to the end user depend on data visualization. The ideal data visualization helps illuminate key points in any data sets and fuels decisions.
- Zero-in on Patterns and relationships – When presented in the right manner, even huge amounts of data starts making sense, and data visualization plays a key role in that. This allows decision makers to identify relationships and patterns within the business, among competitors and the general business landscape. This helps in market predictions and fuels business critical strategies. This also helps businesses focus on areas that really matter and contribute to the growth of the company.
- Know the trends – Data visualization helps present a eagle-eye view of data pertaining to the business and its operating landscape. This helps decision makers pinpoint trends, be it by analysing past data or predicting some future. Data visualization helps in identifying emerging trends, that in turn helps businesses in taking the right decision at the right time to ensure future growth and get a competitive edge over the competition.
- Become a storyteller – The best part of data visualization is that it helps analysts tell a story with their data. Once the data points that need to be presented are ready, data visualizations helps analysts communicate the insights using visual storytelling. The end user can interact with the data at a deeper level and comprehend things much more easier than reading through simple strings of data.
Thinklayer offers state-of-the-art data visualization services that complement your existing analytics engines and help fuel business decision with actionable insights. Know more.