ERP Insights >> Magazine  >> December - 2017 issue

Advanced Data Visualization in Today's Business World

Author : Sushanth Thangamani, Senior Data Analyst, CrowdANALYTIX
Monday, December 4, 2017

Sushanth Thangamani, Senior Data Analyst, CrowdANALYTIX

Enterprises seek innovative techniques that help them draw attention to key messages and allow them make informed business decisions in complex situations. Visual analytics is one such method that allows decision makers to gain insight into complex problems. It simplifies data values, makes it easy to understand and helps enterprises in communicating important messages and insights which otherwise would be difficult to understand without deep technical expertise or deep analysis of the data sets.

The practice of presenting information visually is nothing new and the industry has witnessed a growing progression in the techniques down the years; starting with hand-drawn simple charts and tables followed by spreadsheets giving rise to graphs such as bar graphs, pie charts, and line graphs to other complex advanced Visualizations.

Providing Data Insights that Cause Change

Great data insights don't mean much if the folks controlling change don't understand them or don't have the time to pour over columns of data. Enter data visualization; the key to getting data insights to cause change that improves your market performance.

Advanced Data Visualization
Data visualization is a little like herding cattle - it's expensive and time-consuming, but, ultimately, necessary if you want to generate profits from your cows. Of course, data visualization is only 1 means of corralling big data into something useful. Data analysis using statistical tools to generate descriptive, predictive, and prescriptive data analysis also synthesizes meaning from big data.

Even with data analysis, data visualization makes it easier to see not only descriptive data like height, age, and income, but predictive analytics reflecting the relationships among data, and prescriptive data showing the best alternative solutions.

Paint by Numbers, Power of Data Visualization

The spreadsheet is an object of obsession for data analysts and quantitative thinkers. But for business leaders, sorting through countless rows and columns of raw data isn't ideal because their time is precious.

Data is crucial to your business's success since it can drive some of your most important decisions. But to get anything out of it, the data has to tell a story. And that's where data visualization comes in. The easiest way to tell a data story may be with visuals (an infographic, a chart or a graph) and this can be very effective. When data storytelling is done well, it can guide your business in the right direction and help many parties make informed decisions.

Excellent comparison of Tools

What I learned recreating one chart using 24 tools is an excellent comparison by Lisa of 12 visualization applications and 12 libraries, with a good summary of which tool to use when.