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Tuesday, Sep 18, 2018

Why is Data Visualization Important for Your Business?

 Importance of Data Visualization

In the early years of data visualization, the best and the only way to visualize your data was present within Excel's capabilities. You will start with an easy spreadsheet and create a simple graphic to help you express a message gradually or understand the business's tendency.

Data visualization is the presentation of data in a graphical format. This enables decision-makers to see the analysis presented in view, so that they can understand difficult concepts or identify new shapes. With interactive visualization, you can take a step further by using the technique to drill the concept into graphs and charts, interacting for more data and how it is processed.

This happens when the modern era of data visualization begins. It descends at a steady pace and has only gained steam in the last few years. Here you can learn why data visualization is so important.

Why is data visualization important?

The way human brain processes, it is easy to see spreadsheets or reports using a chart or graph to see the large amount of complex data. Data visualization is an easy and quick way to express concepts in a universal way - and you can experiment with different scenarios by making minor adjustments.

Data visualization can also:

  • Explain which factors impact customer behavior.
  • Identify parts that need more attention for improvement.
  • Help you understand which products to place where.
  • Forecast sales volumes.

How it Works?

Before implementing the new technology, you need to take some steps. Not only do you need to have a solid understanding of your data, you also need to understand your goals, needs and viewers. Preparing your organization for data visualization technology requires that you first:

  • Know your audience and understand how it processes visual information.
  • Understand the data you’re trying to visualize as well as its size
  • Define what you’re trying to visualize and what type of information you want to transfer.

Once you have answered about your initial questions that which viewers will consume information, you will need to prepare the amount of data with which you will work.

Benefits of Data Visualization:

  • Visualization manages influxes of new information and makes it easy to find trends.
  • Easily recognize your next steps from these visual trends and can save hours of time.
  • Brings important relationships between business conditions into focus.
  • Grasp audience’s interests longer.
  • Boost the need for data scientists.
  • Visualizations can be distributed among teams easily.
  • Data visualization quickly reveals the outliers in your data.
  • Visuals help commit important concepts to memory. It’s easier to remember a concept.

Increase Your ROI with Data Visualization

At this point it is clear that you need data visualization in your business. So, how can you make it affordable and satisfy your boss to invest in a good platform?

The best way to make your data influential and efficient without breaking the bank is to add a seamless data visualization platform with a powerful analytics functionality. This allows you to analyze your pricing sales, market, customer and other useful data trends by using strategic sources while visualizing the final results, allowing you to understand your next steps and take action.

If you’re looking for your next data visualization solution, take a look at Plasma Business Intelligence. Its data visualization solutions combined with powerful yet approachable analytics to help companies improve their growth strategies efficiently.

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