Business and Data Visualisation are essential to any growing business. But what is it, and what does it mean for you?? In this blog we will aim to give you an overview of Business Visualisation and the benefits to you and your organisation. This won't be exhaustive by any means. The definition of data is so vast that to try and compile anything as "exhaustive" would be near impossible. What this blog will offer you though is a focused explanation and overview of what Business Visualisation is, and why it should be a priority to you and your organisation.
What is Business Visualisation??
Business (or Data) visualisation describes any attempt to help people understand the significance of data by placing it in a visual context, such as charts, graphs, Geocharts etc. Patterns, trends and correlations that might go undetected in text-based data can be exposed and recognized easier with data visualisation.
What Does This Mean For Your Business?
1) Consume more information easily
“Researchers at the University of Pennsylvania School of Medicine estimate that the human retina can transmit visual input at about the same rate as an Ethernet connection… roughly 10 million bits per second.” - PENN Medicine, 2006
This quote should be enough to demonstrate the advantage of having data displayed visually vs. the age-old text-based data in static tables. The reality is visualised data allows the consumer to receive greater amounts of information at a higher speed, allowing decision makers and managers to see relationships between multidimensional data sets and new ways to interpret data at higher level.
A survey by Aberdeen Group found that managers using Business Visualisation are 28% more likely to find timely information than those who rely solely on managed reporting and dashboards.
2) Decipher relationships and patterns between data sets
A key benefit of Business visualisation is how it enables managers to easily and accurately view relationships and patterns between multiple data sets. Trying to correlate data from multiple text-based sources can be a pain when you have to draw data from multiple tables or spreadsheets. Patterns between multiple data sets can quickly be pulled together in visualisation, and patterns and relationship can be deciphered almost immediately by overlaying one graph and comparing it to another!
3) Visually identify trends
When data is flat, on a table or spreadsheet, discovering trends can take a long time, and be an extremely drawn out process depending on the size of the data you are working with. When data is represented as a graph or chart, its straight forward to see trends directly in the visual aid you have. With Visualisation you can almost instantly see a trend or pattern developing in your data.
4) Interact directly with data
One of my favourite, and the most useful aspects of visualisation is being able to interact with the data directly as you see it. The best example of this is the Geochart shown below. With the Geochart you can directly hover over a country of choice, and see the data associated with each country. The possibilities with this are endless, even the option of drilling down further into a specific country to see cities, towns etc. This is possible with many visualisation styles, like graphs, charts, and gauges. Enabling you to interact directly with data, and allowing you to quickly and accurately see data, as it should be!
Hopefully this gives you a brief insight into Business Visualisation, what it is, and the potential it can release in your business. If you are interested in seeing more examples of how data can be visualised for your organisation, have a look at our Visualisation Gallery here. In summary, the aim of this blog is to help you discover what’s available to your organisation, how it can help and what to expect when terms like Business or Data Visualisation are used.
We believe that an organisation, and its data, should be readily available and easily understandable, leaving you to quickly respond and react, as you need, to the benefit of your organisation.