Data Visualization to Boost Your Business in 2021

Data visualization has come a long way since its evolution. With its growing applications and the emerging multi-dimensional imaging, we have become better at analyzing complex data. It helps you get insights into the most important aspects of the business, see the latest trends, and make better decisions to shape the future.

While you can use plenty of data visualization software to get crucial information, it is necessary to know how to use this visualization and analysis to boost your business. Below is how to get better at data visualization.

Various Techniques for Data Visualization

Several factors influence what type of data you use or how you visualize it. According to PPCexpo, the most commonly used techniques are-

Two-Dimensional Data (map representations, like distance cartogram, dot distribution)

Multi-Dimensional Data (covers variables, dimensions, for example, histogram, pie-chart, etc.)

Hierarchical Data (compares relation between datasets, like selection tree, charts, etc.)

Benefits of Data Visualization:

If implemented right, data visualizations have a plethora of benefits, some of them are:

  • It helps in easy understanding of business information: Data Visualizations helps to understand large information; it’s the best way to assimilate and process information like charts, data, and more. It also helps business owners to identify valuable information between various data-sets.
  • It helps businesses identify relevant data patterns:  When businesses and organizations use visual data discovery tools, it makes it easy for them to extract information from big data sets. However, Data visualization tools help them access business insights by extracting hidden trends like ROI, profits, and losses.
  • Make communication better and easy: Business reports consist of various formal and length documents, static tables, charts, and more. These reports, because of their complex nature, often fail to provide critical information. With interactive elements and various formats of data visualization tools, you can extract a wide variety of information, thereby speeding up the process.
  • It helps save employee time:  Before data visualization, employees spend their working time creating reports and adjusting dashboards, which creates a lot of mess. However, data visualization is not complex; you can easily retrieve information instantly, thereby saving a lot of employee time.

Best Practices For Using Data Visualization Effectively

If people can’t understand the data, it won’t help you do anything good to boost the business, no matter how good the data is. Thus, in order to use this data effectively for business growth, you need to keep a few things in mind, such as-

Prioritize The Requirements

First and foremost, it is important to focus on the requirements. Think about what your key requirement is. For example, what decision you want the reader to make based on the visualization data. Keep it simple, and don’t use extra visuals that may derail you from the point. Use easy-to-understand terms, and create multiple versions of the same data for different teams.

Leverage The Visualization Capabilities

Though there are numerous visualization capabilities, you want to choose the right one that keeps your data simple yet interactive. Different visualization types you may need for different types of data reports are-

  • Charts and graphs, like pie charts, lines, bars, etc.
  • Infographics, the easiest and the most attractive way to share information.
  • Interactive visualization, where the viewer can make changes to the data, adjust the parameters, or zoom to see the data.
  • BI or business intelligence tools, which turn multi-sourced data into a simple report.

Also, focus on the data quality. If the data is poor, even the best visualization technique couldn’t make it useful. Keep everything clear and understandable, utilizing all the key details. For example, showing the performance metrics with the business goals is a great way.

Practice Effective Storytelling Via Visualization

There is no denying that visuals can tell the story better than large blocks of text, rows of numbers, or presentations. It conveys the message to the viewer without the need for any explanation. Moreover, if you invest considerable time to put together visualization data, you aim to achieve something great. There could be no other better way to do so than giving context to your data via a story. Just create an engaging data visualization, and your story is told.

Make Strong Value Propositions

Data visualization and analysis is useful in business because it helps you show results, grab audience’s attention, and allow them to create their own stories based on the data. Use these visualizations on social media, blogs, lead pages, or case studies.

This way, you can deliver a strong value proposition without using text. However, check if the visualizations you share with people work with different file types. If the data is readily available, the audience’s expectations with data effectiveness increase.

Encourage Your Team

Communicate with your team where you have been and where you want to reach. If you just make strategies based on your instincts, your team will struggle to see how well the company is doing or what needs to be improved. So, share visualizations with your team to provide them with real-time insights and motivate them to fuel the business’s growth.

Conclusion

Data is a powerful tool for a business only if it is analyzed and presented the right way. While graphs and pie charts are great, interactive visualization conveys the story better. It makes it easy for the viewers to understand the complex data in an interesting way.

Though the basic principles of data visualization won’t change, the growth of its applications, the need for real-time data analysis, and the increasing adoption of smart devices will influence its future. Keeping the future trends in mind, the information mentioned above will help you to avoid data visualization mistakes and analysis to boost business growth in 2021.

About RJ Frometa

Head Honcho, Editor in Chief and writer here on VENTS. I don't like walking on the beach, but I love playing the guitar and geeking out about music. I am also a movie maniac and 6 hours sleeper.

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