The What and Why of Data Visualization for Business
The rise of the Internet has brought massive amounts of raw data. Every move online can be tracked, measured and archived. Our daily digital interactions create huge deposits of information which may contain valuable secrets. The problem is that the raw data and statistics are difficult to grasp for the human spirit. After all, our thinking is very graphic and based on the representation.
Data Visualization vs. Infographics
The key to unlocking the power of this raw data is to represent it graphically such as showing trends and strategies to adopt in response. This can be done two ways similar but distinct enough – Infographics and data visualization.
Infographics are visual representations of data or facts that are structured to improve human understanding of a particular subject.
Infographics are created by individuals seeking to illustrate a particular point supported by information. They involve selecting data and the focus of the message is on the basis of the needs of the creator. The graphics are subjective interpretations of real data and are designed to create an argument based on facts. For example, if you want to sell someone on the idea of optimizing their website for mobile display, an infographic illustrating the growing trend of smartphone users would be useful.
Data visualization is similar to computer graphics in that it is also a visual or graphical representation of data. The main difference, however, is that the data visualization is an objective reflection of a set of data represented graphically using a computer program. This is a tool to help the human mind grasp the reality of a set of numbers or statistics to highlight the connections, trends, strengths and weaknesses.
3.Harnessing the power of data to your business
Both infographics and data visualizations can help businesses grow in their own way.
Infographics can be used as powerful marketing tools that compel potential clients to act. They can also be used internally to bring forth the case for a particular marketing strategy or course of action.
Data visualizations, on the other hand, can be used in a more exploratory way to identify trends and areas of potential growth. They can also be used to objectively raise awareness of issues, reaching clients in sometimes striking ways.
Why data visualization is important to business?
The purpose of visualizing data in a business context is simple – to identify the right information as quickly as possible.
1.Take a new, more effective way to transmit and assimilate information
Generally, information business compiled by the management teams includes tables and unattractive static graphics. Companies using the data visualization are more likely to find new ways to interpret the data. They also more easily find the information they need and are more productive.
2.Locate the links and trends between different business activities
Facilitating correlations, data visualization allows managers to more quickly identify the source of problems and thus act more quickly to solve them. The data can also be compared quickly and easily.
3.Face more quickly to emerging market trends
Several opportunities can be discovered by interpreting the information extracted. Being able to gather these data is a competitive advantage as it allows organizations to capture changes in the market and in consumer behavior.
4.Interact directly with data
Data visualization tools not only allow you to see the data, but also to manipulate and interact with them. The most effective actions can be brought forward based on analytical models developed through visualization in real-time and predictive analytics.
5.Tell compelling stories
Engaging management teams to data results in greater performance. How employees see the information exchange with the possibility that thrive in data visualization to tell a story through the data.