Data Visualization Importance, Benefits, and Challenges
Any business that generates some amount of data daily and wishes to use the information to its benefit must know data visualization. Since the internet turned data into an ever-growing goldmine, every industry has been hopping on the bandwagon. Through data and its optimal visualization, you can view every vertical of your business and develop winning strategies.
In this blog post, we dive into the concept of data visualization, understanding the benefits, importance, and tools associated with it. Let’s explore how data visualization can give your reports a concise, more refined language.
What is Data Visualization?
Data visualization is the process of turning complicated and heavy datasets into a glanceable representation of graphics, charts, and other imagery. This not only makes the life of data analysts and statisticians easy but also makes the material significantly easier to grasp for entrepreneurs, stakeholders, and decision-makers.
Plotting the data in pictorials helps you highlight key insights, which can be confusing for your viewers to gather from the raw figures. Visualizations can enrich your analytical reports, make text material appealing to the eye, and capture your audience’s attention for the entire length of a storytelling project.
Importance of Data Visualization in 2022 and Beyond
Our brain picks up visual cues faster than written words or numbers. In a business setting, visualization aids in communicating complex information in an easy-to-understand storytelling manner. Unlike the presentation of data in reports, visual exploration of data offers more information in less time and a crisp format.
Widgets function as a means for decision-makers to interact with the data and come upon the critical questions that would yield better insights. Here is a round-up of the few use cases that emphasize the value of data visualization.
- Calibrating upon the right method of interpreting business data to better help the decision-making process.
- Attracting the attention of your target audience toward business insights that show problem areas.
- Working with heavy datasets to create pictorial representations that bring out unseen patterns in the data and uncover information and the story behind it so the decision-makers can set a business goal.
- Leveraging data visualizations to convert trends into successful marketing and business strategies.
Benefits of Data Visualization
A dataset – representing sales, investment, or any aspect of business – is just plain numbers when presented across hundreds or even thousands of rows and columns. Visualization allows you to convey the meaning behind your table reports in a way that is easier for the stakeholders to understand, analyze, and get actionable takeaways.
Powerful visuals can influence the way we interpret and retain information, even more than properly collated reports. As a result, the stakeholders can easily keep up with new insights and take quick decisions for business growth.
When you need to do a period-over-period comparison using a large amount of data, visualization allows you to identify patterns, connections, and relationships within the data. As a result, you get to view and assess information from multiple perspectives and obtain a greater meaning from a complex dataset.
Every visualization allows you to take a microscopic view of the data. While this can uncover surprising insights telling you a new story, you also get to spot inconsistencies resulting from erroneous data – all of this is only possible with data visualization.
Understanding the Story
Data visualization involves using interactive graphs, charts, and other visuals to simplify a complex and mind-numbingly boring dataset. This meaningful and glanceable representation of data helps you engage your audience in a story-like narration of important information.
Exploring Business Insights
The key to finding business insights is finding accurate data correlations (identifying the relation between different variables) through visual representations. Exploring such business insights is essential to remain competitive and continue achieving business’ goals.
Grasping the Latest Trends
Data visualization helps you stay on top of the latest market trends and churn out valuable offerings, and spot problems before they harm. As a result, you devote more time to jobs that will directly improve your bottom line.
How Data Visualization Tools Work
Remember creating a bar graph with a bunch of figures in the math class? Data visualization is quite the same but done at a gigantic scale. When you are dealing with tons of data and want to transform them into meaningful visuals, visualization tools come in handy. You need powerful software programs that can access and wield multiple data sources like spreadsheets, text report files, web API data, database-maintained sources, and others.
Your visualization tools should be able to develop data into visual models according to your unique specifications and requirements. At the very least, the tool should be able to establish a secure connection with data sources, put different data sources together, automatically refresh visuals as the data changes, and allow graphics sharing. This will help you create interactive presentations of your data and save you a lot of manual work.
Best Data Visualization Consultants in the Northeast
Knowing that the human brain is repulsed even by the sight of raw, unorganized numbers and text information, businesses need data visualizations in NYC to turn it all into something understandable, usable, and actionable. Graphs, charts, and other forms of visual aids help shrink overwhelming data into bite-size imagery. They can help you quickly identify trends, patterns, and even errors so that you can make important decisions faster.
At VLink, we understand the value of professional data visualization services for businesses, and offer advanced visualization tools and widgets that help plot the data insights in a concise and meaningful way.
If you’re searching for data visualization consultants to help you take your business to the next level, VLink is here to help the marketing team, sales team, customer service vertical, and business executives make informed decisions faster with visual explorations of data that is easy to interpret.
Our cloud data visualization services in Massachusetts, Connecticut, and other states can do so much more for your organization. Let our professionals help you pick advanced discovery and visualization tools and get expert advice to plan your business decisions. Contact us for a quick consultation and find answers to your questions.