Data Visualization For Business - All You Need To Know

Mar 8, 2022
4 min read

Data is omnipresent in today's society, and it's critical for companies to be able to comprehend and effectively deliver their message.

Be honest: How many times have you been swamped by the massive amount of data your business generates? And this applies to both on-premise data as well as the data on the cloud. The need for data analytics is only increasing in the age of big data.

How cool would it be if there was a way to graphically represent the data? What if the structures and trends projected by these data allowed users to gain rapid observations? Data visualization is a key component of many business intelligence tools which does just that.

What is Data Visualization?

Data visualization is a graphical demonstration of information that displays patterns and trends while also allowing users to gain rapid insights. Using data visualization for business, we can present data is using different colors, hues, shapes, geometry, and movement of visual features.

These elements enhance perception in manners that mere alphabetical text, numerical figures, and simple tables cannot.

We can include the following among the data visualization options available:

  • Scatter plots
  • Mekko charts
  • Bubble clouds
  • Venn diagrams
  • Heat maps

These are in addition to the standard bar graphs, pie charts, and line graphs.

Data visualization helps people to view analytics in a visual format and grasp the concepts faster. It is an inseparable component of analyzing and presenting data for organizations worldwide.

How Data Visualization Works for Businesses

Why would anyone use data visualization tools to visualize the many types and large volumes of data created by their company? To sum it up, making data easy to interpret benefits every type of organization, government, education, healthcare. It also includes corporations across industries and sports groups.

Let us take a deeper look into the benefits of data visualization for business.

1. We can absorb vast, complicated information in a quick and easy manner.
We can retain vast amounts of knowledge in a matter of seconds if displayed in an effective way. The explanation seems to be that processing available visuals requires a lot simpler neurological activity rather than constructing our own depiction from text or data.

Small 'packages' or pieces of data are formed by data visualization to express groups of concepts that can be kept in your audience's memory in the short term.  Color, size, line weight, and spacing are all designed to aid match material to its sequence of significance by bringing out the deeper meaning of these "chunks." The audience will have no trouble navigating the pieces and grasping their relevance.

Whenever we look at pictorial representations of diverse data points, we may perceive the interrelationships between them more quickly. That is to say, we assimilate information more quickly once we see it.

2. Data visualization helps business executives in making better decisions.

People can more readily absorb illustrations rather than boring tabular sheets or publications. If data is adequately communicated, decision-makers may start acting on fresh data findings, speeding up judgment and corporate success at the same time.

Certain data visualizations aid in analysis, whereas others provide data in a visually striking manner. Some are created to demonstrate theories, methods, or tactics to a variety of audiences. Create your own depending on your unique goals, data types, and stakeholder requirements.

3. Reveals underlying trends and provides more information about complicated data

Business customers may use data visualizations to get clarity on their massive volumes of data. They profit from being able to see new, emerging patterns and faults in the data. Users can pay heed to places that have significant risks or advancements by making sense of these patterns. This process, in turn, propels the company forward.

Data visualization-based sales estimates are more accurate than others. When it comes to evaluating customer behavior, data visualization allows you to view a variety of distinct elements and how they are connected to one another.

Effective Data Visualization Tools for Businesses

A tool with that competence should be able to assist you with all aspects of data analysis and communication, beginning with data formulation. Preparing data for analysis has always been a lengthy, tedious, and error-prone manual procedure.

In order to develop excellent data visualizations, a variety of techniques and strategies are readily accessible. It is critical that your team grasps the fundamental ideas and use appropriate data visualization tools.

Here are some of the best data visualization tools you can opt for:

a) Google Charts
Google Charts is a popular free alternative for professionals who want to create dynamic data visualizations that will thrive on the internet.

The program can extract data from a variety of sources, including Salesforce, SQL databases, and Google Sheets, and build charts using HTML5/SVG technology, making them extremely widely available. Bar charts, geo charts,  pie charts, histograms, and area charts are among the 18 types of charts available.

b) Zoho Analytics
Zoho Analytics is a data visualization and monitoring solution that allows you to generate customizable reviews and dashboards quickly and effortlessly. You can do the following using Zoho Analytics:

With drag-and-drop simplicity, swiftly design personalized panels and reports.

Through interactive charts and graphs, you may gain valuable knowledge about your data. With a  few clicks, you can share these summaries with clients and colleagues. The program is presently used by over 500,000 enterprises and two million consumers.

c) Datawrapper
Datawrapper is a program for creating maps,  charts, and other visuals for use digitally, similar to Google Charts. This tool's original primary audience was journalists working on media articles, but it may be useful to anybody in charge of a website.

By submitting data files to Datawrapper, users may build charts and maps straight in the browser. Readers will be able to view the charts and maps made in Datawrapper on whichever device they are using since they are responsive and suited for all types of devices.

Above everything else, it's critical that data is presented accurately. To build data visualizations that ultimately benefit your corporate goals, themes, colors, text, and interface interaction must all be properly crafted.

Wrapping Up

In conclusion, it can be rightfully said that data visualization is one of the most powerful means of communicating with data. To aid you in this process, there are various tools available to help you produce visually striking images.

It's crucial to remember that the data you use to produce visualizations is only as strong as the data you use to build them. If data is wrong or defective, it might result in erroneous visualizations or, worse, wrong conclusions. This can have major commercial and legal ramifications as a result.

Hopefully, this blog has helped you know about or brush up on your data visualization knowledge. Imagine the power of data visualization tools and how they can revolutionize your business needs. Imagine the power that you can harness.