The Business Impact of Data Visualization

What is Data Visualization?

Data visualization is the study of data being communicated visually through graphical means. Bar charts, graphs and maps are illustrations of basic data visualizations that have been utilized for quite a few years. Over time, visualizations have become more intricate to the extent of having animations that illustrate changing data over a period of time. There is virtually no limit to the translation of information into an image.

As the visualization designer, you can ascertain which visual components, such as color and shape, symbolize and communicate particular data points.  For example, images could be 2D or 3D, dynamic or fixed, or more importantly they could allow user interaction.

Visualizations provide a unique way to communicate trends and correlations that can ultimately lead to important marketing breakthroughs. Visualizations that represent a large amount of information allow you to see patterns that may normally be hidden in unconnected data sets.

Using Data Visualization to Immediately Observe Key Points

Data visualization does not occur in isolation. Therefore it is important that you understand the context that you are communicating. When planning your communication, make sure it meets these key points:

  1. Precision. Could it be accurate with regard to proper quantitative assessment?
  2. Versatility. Can the creation conform to assist numerous wants?
  3. Aesthetically Pleasing. The data visualization must not insult the reader’s senses; a great example of this is moire patterns.
  4. Efficient.  Is your visualization simple to understand?  Will the viewer “get it” with ease?
  5. Effective. You need to be sure you display the information; evaluate regardless of whether you need to increase or even reduce data-ink percentage; additionally think about brase non-data-ink as well as brase repetitive data-ink.

The Importance of Making Data More Usable

In recent years, a variety of methods have been proposed for analyzing the consequences of data effectiveness.  During a study conducted by the University of Texas, researchers found that if a company increased the accessibility of data for the user, by only 10%, the result could increase revenue drastically and create new jobs. The researchers analyzed accessibility, mobility, quality, and usability to come up with these findings. Overall, improving your company’s data usability will likely benefit business and should not be overlooked.