You need a graphical representation of data to convert meaningless numbers into actionable insights for your business to get the boost it needs.
According to Forbes, there is 2.5 quintillion bytes of data created every single day. And we have no qualms in confiding that this enormous data gushing in from multiple channels has overwhelmed and confused us (and many others) at some point too. If by chance, you find yourself in that space right now, you need not panic. Neither are you alone, nor have you reached a dead wall. There is a way out and guess what, it’s not as complicated as you think.
So, what’s the real problem here?
To help you understand the problem, let me tell you a story about a friend Vijay Lakhiani, who is a Director of sales in a Mumbai based multinational company. He was very disappointed and perplexed last week after a meeting with his company leaders. He had tried to convey important sales data to them, but the response he received despite all his hard work was extremely poor. The reason was simple. His seniors who were not as mathematically oriented as him were unable to decipher vast meaningless numbers.
Like everything else, data also needs to be organised as well as represented clearly and graphically. After all, it must be comprehended, registered and acted upon without appearing threatening to others.
The process that helps you do this is called Data Visualization, and we aren’t talking anything new here are we?
The concept of using pictures as a Data Visualization technique to convey messages has been around for centuries. The human brain processes information faster and better that way. And who wouldn’t want an easier option that conveys information in an appealing and simple manner rather than hackling over stacks of exhaustive spreadsheets and reports.
Switching over to Data Visualization has many more benefits
- You can view and absorb information easily- This lets your team connect the dots between multi-dimensional data to make better decisions.
- Data Visualization enables you to identify emerging patterns between your operational strategy and the consequent business outcome.
- You are able to discover new business and revenue opportunities with the Data visualization software.
- You get crucial answers as to why your data is behaving in a certain way to predict sales volumes through the Data Visualization techniques.
- Data Visualization tools help you detect the areas that need improvement to enhance sales.
- Sounds great doesn’t it? But for it to work well for you, you need to know how to visualize data correctly.
Here are the best practices for achieving effective Data Visualization
- The graphical representation of data, is obviously for a specific team or a group of people and not for everyone. So, it needs to be designed keeping their requirements (the frequency of decision making, type of actions and challenges faced) in mind.
- Ensure you choose the right kind of Data Visualization technique for the type of data represented and its purpose. E.g. tables for records, line charts for tracking changes, bar charts to compare different quantities etc.
- Present metrics with dynamic thresholds for you team to decipher the numbers and act where required. For e.g. Include recommendations and predictions.
- Keep Data Visualization examples simple and preferably use colours or arrows to indicate performances. This keeps the viewers engaged without confusing them.
Below are some Data Visualization examples –
Now, what if you need multiple visualizations that provide important insights into different aspects of your company’s operations?
There is a way out for that too.You can merge these multiple visualizations, assemble them and create a performance dashboard.
What are dashboards: Excellent Data Visualization software
Below are some Data Visualization examples –
They display astounding information in a short period and allow users to understand the analytics that are relevant to their business.But with companies focusing tremendously on their data, there is a proliferation of Data Visualization tools, and the vast suite available on the net can only confuse you instead of helping.To help you decide we have shortlisted these useful features that you must look out before you make your choice.
- The Data Visualization software should have the ability to pick and choose different visuals depending on your requirement.
- It should be able to accurately track trends for you to keep tabs on the latest market trends.
- It should provide a high level of security for your important information.
- It should simplify things for you rather than complicating them. So, it needs to be user friendly with easy to follow tips.
You can read here if you want more details on the features.
Data Visualization tools like Datorama, Tableau, Alteryx, Klipfolio,Microsoft Power BI and Optimizely have over the years, illuminated marketing intelligence with their Data Visualization software. They have created striking dashboards to provide a holistic, friendly view of data for smarter decisions and reporting.
Best Tableau visualizations
Alteryx Dashboard Visualizations
Klipfolio Dashboard Visualizations
Microsoft Power BI visualizations
Optimizely dashboard visualizations
Just in case, if you have made your choice already, we still have good news for you through our Data Visualization projects.
We are going to be running a comparative analysis and evaluation of these Data Visualization tools for you soon and we recommend you don’t miss it.
From letting you visually explore data better (if you already have a BI tool), to helping you migrate from Excel (if you don’t have a BI tool), we develop interactive dashboards using homegrown tools, that fulfil all your Business Intelligence requirements. With extensive experience in creating both client-facing and internal dashboards, we will make it easy for you to work with all kinds of data sources (HR, Retail, CRM, Ad Campaign), and seamlessly deploy data however and wherever you want.
We can help you optimize these tools with Data Visualization techniques and enable you to use them to their maximum potential.Our data analytics services include Filtering and Page set-up in Datorama.
For Campaign Reporting we help you bridge the reporting gap by resolving issues like manual reporting, merging scattered data from multiple sources, coagulating data for multiple stake holders and standardizing metrics through Campaign Enabler.We have also designed 5 most amazing interactive dashboards that will make your data work harder for you and help you change your data story completely!And much more.
In the coming weeks, we have articles lined up with optimization information about the other Data Visualization tools too, but if you want to know about a specific tool, we will roll out that article on priority basis for you. All you need to do is let us know in the comments section.
In the meantime, Data Visualization continues to create huge waves in the corporate landscape with its fusion of science & art and you really cannot ignore this wise investment on how to visualize data.