What is Data Visualization?
Data visualization is the presentation of data in a graphical form. The process of data visualization helps to reveal patterns and anomalies in the data, which can otherwise be difficult for human beings to detect.
Visualization of data has become integral to the way businesses operate according to Fintalent’s data visualization consultants. Data visualization is the art of representing information with graphs, charts, maps, and other visuals for a purpose such as making business reports more convincing. Also called data representation or data graphics.
Data is the biggest and most important asset a business will ever have, collecting information, exploring results without preconceptions. Data Visualization is the representation of data in a graph or chart. A company would use it as a tool to show their data to its employees or the general public in an attractive way. Data visualization plays an important role in business by providing simple and elegant representations of complex variables. However, business owners should understand the principle of Data Visualization before applying it to their business.
Data Visualization in Business: History and Future
Data Visualization is a relatively new term when compared to Business Intelligence that has been around for a long time. Earlier, data visualization was called graphics and charts, but now it has become more than just charts, graphs or figures. It’s a way of looking at data with more clarity than ever before! Data Visualization has managed to make its way into most businesses out there, as it’s one of the most helpful ways to gain intelligence about what is happening in your business.
Data Visualization helps you to understand what is happening in your marketing campaigns or in your sales or in your business. Let’s say, if you are into e-commerce, then the data viz tools will help you to know about the spending patterns of customers, so that you can plan your strategy and get more conversions for your website.
On the other hand, if you are into B2B sales, then Data Visualization can help you to know about which of your customers have visited your storefront and what sort of products and services they have been buying from you. This can be used for targeted promotions that will improve your sales conversions.
So, what is Data Visualization in business? It’s the presentation of data in a graphically appealing manner. The way in which it’s done will depend on the kind of business you are into, the nature of your products or services that you offer and your competitors. So, for B2B sales it will look completely different from e-commerce, as you will be dealing with different customers with different needs.
Data Visualization Tools
Businesses out there always want to stay up to date and present their company in a better light using new technologies every now and then. There are so many tools available that can help you visualize your data that it can actually become overwhelming. Choosing the right tool for your business can be a challenging task. You’ll have to consider so many aspects before you finally select any one tool.
Then there are tools available as online tools, as desktop tools or as mobile phone apps, so you’ll have to make a choice based on your preferences and the kind of work you do on a regular basis. Google Sheets for example is a free online tool by Google that can help you create lightning-fast charts and graphs based on spreadsheet files.
Data Visualization has managed to make its way into most businesses out there, as it’s one of the most helpful ways to gain intelligence about what is happening in your business. Also, it helps you to understand which kinds of Data Visualization are most commonly used while designing presentations.