Big Data has been the most heard in the business community in recent years. Data collection has become more functional for enterprises with the proliferation of new-age technologies/ tools and business applications. There is no specific industry that isn’t benefitted from the data and visualization built on it. Visualization helps interpret the data gathered and make meaningful conclusions aiding business decisions.
The benefits of big data for tourism, banking, health, or any other sector are countless to achieve a complete and successful digital transformation. However, all this data is useless if it is merely stored in crowded databases. Extracting meaningful outcomes from historical data and customer information helps organizations stay ahead of the competition.
What is data visualization?
Data visualization is the art of translating data into a visual representation in the form of graphs, charts, maps, and much more.
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It is nothing but using graphic and illustrated resources to present a series of data and information and thus facilitate decision-making. Cartography is an ancient example of visualization and data collection without going any further.
Though data visualization has been widely in use, with data being predominant in every industry, data visualization has witnessed a rise in importance in recent times.
All the key business KPIs and metrics are presented in the form of dashboards for a glance and business user consumption.
Importance of data visualization
The visualization of a company’s data allows for analyzing large amounts of information quickly and efficiently. Having access to this information has a series of business advantages that you cannot miss.
Greater transparency and performance control
Data visualization works on data of any size and complexity to present it as simple, consumable, and understandable for everyone. Internally, this favors a sense of transparency and improves inter-departmental relations owing to the visualization of a single source of truth. It also comes in handy to obtain managers’ approval from the hierarchy or seek specific financial consulting or decisions.
Data visualization for decision making
Processing a massive amount of data to form a conclusion is time-consuming and tiresome for data doers. When it comes to computing important business decisions, it is best to have a consolidated view of the critical KPIs and further have an option to drill down to arrive at patterns.
Thanks to data visualization capabilities, the company’s different departments can now make critical and complex decisions faster and with greater security.
Automate your business and save time thanks to data visualization
If there is something valuable in a company, in addition to data, it is the time invested in the different tasks and their productivity.
Imagine when your colleague/ superior constantly asks for updated reports to measure campaign performance. Wouldn’t that be exhaustive, as there is a continuous need to create an updated report to better analyze the situation and further feed the decision-making engine?
When handling massive amounts of data, collecting, preparing, and interpreting that data requires a significant amount of employee time. Thanks to data visualization tools, preparing all these reports is easier and faster. And all that time that is saved can be used in more creative tasks that add more value to the company and help differentiate it from the competition.
Better connection with customers
Customers are the key to the success of any company. Communication with them can be delicate and sensitive since they have their own preferences, patterns, and needs.
Analyzing customer information and detecting their patterns based on historical spending, browsing history, or social data helps tailor personalized communication to engage effectively.
When we use data visualization as a resource to visualize available customer information, communication with customers is more fluid. Organizations can identify if a specific campaign to customers yielded the desired results besides facilitating personalized information and tailoring promotional activities based on segmentation.
Customer delight accounts for a better appreciation of the services and the objectives achieved.
Data visualization tools
Data visualization is a part of many business intelligence tools and is key to advanced analytics. Every tool has a varied set of capabilities and will allow you to input data sources to conduct in-depth analyses. Most tools come with prebuilt templates to facilitate a quick start of visualizations.
Here are some of the data visualization tools you can use:
Power BI: A business intelligence tool by Microsoft, is one of the industry’s most widely used data visualization tools. Access data securely and easily convert it into graphs, reports, and dashboards that help understand the information. With Power BI, organizations can input any data source to deliver dashboards. In addition, it has an AI (Artificial Intelligence) function to discover “hidden information.” The best thing is that compared to other tools, Power BI is a cost-effective tool.
Qlik: Qlik is a set of data visualization and analytics tools that has the main advantage of being easily scalable. It supports a broad spectrum of data sources. It also has a pervasive global partner network, facilitating integration and communications.
Tableau – A tableau is a tool that understands the importance of data analysis for businesses and presents a rich visualization of data. It allows you to create very detailed charts, interactive maps, and graphs. In addition, it is easy to use since it is designed with a modern and intuitive user interface. The tool works its best both on-premise or in the cloud.
Looker: It is part of the Google Cloud Platform and another data visualization and analytics solutions option. Like the previous ones, it allows obtaining data from a wide variety of sources and comparing and crossing them to obtain information in the form of visual graphs and tables.
Saxon AI, a 20-year-old Data & Analytics company, has proven its mettle in delivering some of the complex data visualization challenges for medium and large enterprises. Their proprietary accelerators help you get started with data storytelling in no time. Expert professional networks and industry knowledge have made them a preferred choice for companies to solve data needs.
Contact Saxon AI now for all your data needs and take your company to the next level.
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