Using maps or graphs, data visualization helps us understand what the data means by providing a visual context for it. As a result, it's simpler to spot trends, patterns, and outliers in huge datasets since the information is easier to understand. Data visualization and its impact on businesses have been the focus of this blog.
For any business enterprise to flourish well and stay ahead among its competitors, periodical self-scrutiny of business performance is of utmost importance. Assessing one’s own performance will help understand where the business stands in the comity of counterparts.
Data Visualization is the pictorial representation of vast business data of an enterprise, at various stages of business. A cursory glance at the charts, pie-diagrams, graphical representations or schemas gives the snapshot view about the performance of the business, at any particular situation. Huge heaps of statistical data, when presented in the traditional form of tables and in excel spreadsheets may sometimes add to bewilderment and discomfiture for business analysis specialists. Data Visualization picks up the key information and results, rearranges them systematically, draws inferences and brings out the final results to enable the policymakers to make crucial decisions at the top level of management.
Presenting the tonnes of the textual body of information and abstract figures in the form of graphs/pictures is not a new concept. Even in academics, school children are familiar with taxonomy charts, graphs from which the main theme of the topic is understood in an outright and lucid way. Data Visualization churns down cartloads of information and brings to the surface the cream/gist of the summary and helps in quicker comprehension of the subject.
While it takes days and weeks to arrive at conclusions by studying a big stack of data in its conventional form pertaining to various departments of business firm, business analysts and chief executives of higher hierarchy find it quite easy to discern the state of affairs with much clarity and take pivotal decisions instantaneously by mere sneaking a peek at the images/charts submitted through Data Visualization.
We can see for ourselves how good-looking we are by looking at our own image in the mirror. If there is a necessity for any makeover in our appearance, we can at once spring into action to spruce up and dandify our visage. We need not pay heed to the remarks made by outsiders about our appearance when we can very much infer independently about our own selves.
This is exactly what happens with the visual analytics of Data Visualization. The pictorial reports speak volumes about the current status of the business and enable to take corrective measures if required.
Various departments of marketing, finance, quality control, human resources can be brought under the gamut of Data Visualization.
All the above aspects can be presented in the form of pictures, graphs, pie-diagrams, speech balloons to make the reports eye-catching, interesting and attractive to the management so as to take appropriate decisions without having to spend too long on the lengthy subjective and exhaustive reports.
In conclusion, it can be said unequivocally that Data Visualization is quite a convenient method which rearranges, realigns, analyses, depicts in eye-catching images and presents the massive business data into various presentable forms easy to understand for taking quick and timely decisions at the apex level to take the business forward and upward.
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As a Senior Writer for Mindmajix, Saikumar has a great understanding of today’s data-driven environment, which includes key aspects such as Business Intelligence and data management. He manages the task of creating great content in the areas of Programming, Microsoft Power BI, Tableau, Oracle BI, Cognos, and Alteryx. Connect with him on LinkedIn and Twitter.
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