When it comes to running your business, data is crucial to getting the full picture of how your company is performing. Especially when you’re running a large, enterprise-level business, data can get exceedingly complicated. This is because you’re going to be pulling big data from a variety of sources in order to get the right insights you need to make decisions.
That being said, just because you have different rows of data doesn’t necessarily mean that you’re going to be able to share these new insights with others who aren’t data scientists in less you have a way to connect the dots for them. This is where a concept like data visualization, which impacts how you handle your data presentation, can be incredibly beneficial.
In an enterprise setting, there are dozens of ways that you can use data visualization to your advantage. The human brain processes data much better when it’s being presented in a visual way rather than just looking at the raw data points in different rows and columns.
Finding a visual representation—whether that’s using a pie chart, bar chart, scatter plot, or line chart—can be a much better way of handling information visualization, since a graphic representation of data or an infographic makes data analysis much simpler than looking at spreadsheets. Read on to learn about a few of the ways data visualization can be used in an enterprise setting.
Data visualization gives you actionable insights quickly.
One of the biggest benefits of data visualization is that it offers actionable insights much more quickly than having people read a spreadsheet. Having a visual component means that you don’t need to be a data scientist or even super comfortable with mathematics or science in order to make informed conclusions from looking at statistical graphics or an infographic.
Looking at a visual display of quantitative information is a much faster way to discern the information you need to make the right decision, whether you’re looking for a comparison between two data points or any other kind of visual information.
Data visualization allows you to identify new opportunities.
Another benefit of data visualization for enterprises is the opportunity to spot trends and act upon them. This enables you to identify a new opportunity and increase revenue streams by branching out into new directions, confident with the peace of mind that your visual analytics have given you that this isn’t a bad idea.
Noticing a positive outlier or the impact that a single variable has on your business can be pivotal to these sorts of insights, but you might miss outliers like this or be subject to your own biases if you’re only looking at a set of data in a spreadsheet rather than in a visual way.
Data visualization offers insight over time.
Data visualization is a key storytelling tool in presenting to employees, stakeholders, or potential investors. Especially if you want to show how sales have changed over time or how performance has changed after introducing a new CRM platform, having a line chart can be a great way to illustrate this kind of growth. Line charts are a perfect data visualization visual, since they are easy to read and understand. As a line increases as it moves to the right of the X-axis, it’s easy to see that things are improving as your business continues to reach new heights.
Clearly, with data visualization on your side, you don’t need to be a data scientist in order to determine the correlation between different data points. By following the best practices in data science and visualization, you can find a much better way to present data and ultimately tell visual stories to your stakeholders and staff members.
Keep the above lessons in mind when it comes to creating information graphics and using data visualization tools and you’ll be well on your way to coming up with an appropriate illustration and visual display of quantitative information without even breaking a sweat.