Why is Data Visualization Important?
There was a time when we used to depict the success of trade or hunt on the cave drawings. This is how data was visualized at that time. Now, the time has evolved so much that for data visualization we have so many tools and techniques available. But, have you ever wondered why ancient people were following data visualization? What is the use of Data Visualization and Why Data visualization is important?
In this article, we will be able to understand what is data visualization, why data visualization is important and how data visualization will help in improving decision making and will also help in the growth and development of your organization.
Meaning of Data Visualization
Data visualization is the graphical portrayal of data and information. By utilizing visual components like charts, diagrams, and maps, data visualization tools give an open method to see and get patterns, exceptions, and patterns in information.
Its fundamental objective is to distill enormous datasets into visual graphics to understand easily the complex relationships inside the information. It is regularly utilized reciprocally with terms, for example, data graphics, statistical designs, and data visualization.
In the era of Big Data, data visualization tools will help you in analyzing a large amount of information and will assist you in taking data-driven decisions.
Origin of Data Visualization
The idea of data visualization isn’t new. In addition, it has been around for a considerable length of time. The earliest and most evident instances of DataViz projects are maps. At that point, you have the pie graph which originally appeared in the mid-nineteenth century.
A couple of decades later, Charles Joseph Minard utilized statistical diagrams so as to delineate Bonaparte’s Russian crusade of 1812, consolidating various measurements: the number of troops, temperature, distance, directions, and that’s just the beginning.
Other outstanding achievements throughout the entire existence of data visualization incorporate yet are not restricted to works of Nicole Oresme, Joseph Priestly, and William Playfair. Every one of them enormously added to the DataViz progress. Oresme was probably the best mastermind of the Middle Ages, and one might say that he invented bar charts in the fourteenth century, In Spite of the fact that it was Playfair who later gave the bar chart the structure we know today. Priestley, in his diagram of biography, utilized a timetable with bars to look at various people’s life expectancies. Playfair is additionally credited with the first utilization of area charts.
Visualizing data continued evolving after some time, and with the approach of PCs and quick development of advances, the control certainly took a quantum jump forward. These days, even huge measures of data and big data itself can be handled by DataViz software at an exceptionally fast rate, opening up new energizing open doors in the field of data analytics and business intelligence.
Importance of Data Visualization
According to the research by the World Economic Forum, the world produces 2.5 Quintillion bytes of information consistently, and 90% of the sum total of what information has been made over the most recent two years. With so much information, it’s gotten progressively hard to oversee and understand everything. It would be impossible for any single individual to swim through information line-by-line and see distinct patterns and make observations. Data expansion can be overseen as a component of the Data Science process, which incorporates Data representation.
1. Helps in Decision Making
We can not deny the fact that visual things are easier to grasp and analyze. Data Visualization helps us to grasp and analyze the data more easily and will help you to make better and faster decisions. It will help you to find new and hidden patterns to understand difficult patterns.
2. Helps in Identifying Issues
Data Visualization helps in identifying issues and deficits. By choosing the best business strategy and sales forecasting volume will help you to identify the issues and deficits.
3. Absorbs Information Quickly
Words generally can’t do a picture justice. Or then again, for this situation, an image is worth a huge number of lines of information. As data volume definitely expands, perception oversees floods of new data and makes it simple to discover patterns.
4. Holds Audience Interest
Graphics works with your information and replays a message rapidly before you lose interest. As individuals currently have a capacity to focus shorter than that of goldfish [Microsoft], keeping interested is a critical objective when sharing bits of knowledge.
Benefits of Data Visualization
1. Helps in Business Insights
Data Visualization helps organizations to improve their sales and earn more revenue by receiving data visualization programming. Numerous organizations have been utilizing data visualization applications and dashboards to comprehend their business bits of knowledge to support their profitability and effectiveness.
2. Helps in Analysis
Data visualization will assist your organizations in analyzing the procedures like sales, user, item and promotion. The management can concentrate on the territories of progress so as to create more income and make the association increasingly beneficial.
3. Helps in Business Operations and Activities
In the era of competitive business, it is essential to discover the connections between the working conditions and business execution. The data visualization will assist you in understanding these connections. It is absolutely going to assist the senior management by taking better choices in remembering their product promotion and consumer satisfaction.
4. Helps in Management of Customers
Dealing with customers is the greatest challenge for any association. You can deal with the customers successfully if you have the information. You can interface with them and contact them through different mediums including digital media.
The data visualization software will assist you with retaining customers as it will characterize your customers’ conduct according to their demographics and their interest. The data analytics will assist you with understanding your market and from which region your product has got a lot of reaction. You can focus on your customers and the market.
5. Helps in Sales
By utilizing the data visualization application, you can improve your sales as well. The analytics will assist you with understanding the market and build up your strategy as needed. Top to bottom analysis of sales will assist you with forecasting the sales of your organization.
Types of Data Visualization
There are certain types of data visualization. Let’s go through them one by one.
1. Line Graph
A line graph outlines changes after some time. The x-axis is generally a time frame, while the y-axis is quantity. So, this could delineate an organization’s sales for the year separated by a month or what number of units a processing plant created every day for as long as a week.
2. Column Graph
This is one of the most widely recognized types of data visualization tools. There’s an explanation we figure out how to make column charts in grade school. They’re a basic, noble approach to show a comparison among various sets of data. You can likewise utilize a column chart to follow data collections after some time.
A column chart will incorporate data labels along the X axis with estimated measurements or values introduced on the Y axis, It is also called as the left half of the graph. The Y-axis will ordinarily begin at 0 and go as high as the largest measurement you’re following.
You can utilize column charts to follow month to month sales projections, income per point of arrival, or comparative estimations. Steady hues help maintain the emphasis on the data itself, however you can acquaint accent colors to significant data points or to track changes after some time.
3. Bar Graph
Bar Graph is another type of data visualization. A bar graph additionally shows changes after some time. Yet, in the event that there is more than one variable, a bar graph can make it simpler to compare the data for every variable at every second in time. For instance, a bar graph could analyze the organization’s sales from this year to a year ago.
A histogram appears as though a bar graph, but it helps in measuring frequency as opposed to trends after some time. The x-axis of a histogram records the “bins” or intervals of the variable, and the y-axis is frequency, so each bar speaks to the frequency of that bin. For instance, you can measure the frequencies of each response to a survey question. The bins would be the appropriate response: “unsatisfactory,” “neutral,” and “satisfactory.” This would reveal to you what number of individuals furnished every response.
5. Scatter Plot
Scatter Plot is another type of data visualization. Scatter plots are utilized to discover correlations. Each point on a disperse plot signifies “when x = this, at that point y equals this.” That way, if the points trend a specific way (upward to one side, descending to one side, and so on.) there is a connection between them. If the plot is genuinely scattered with no pattern by any stretch of the imagination, at that point the variables don’t influence each other by any stretch of the imagination.
6. Pie Chart
A pie graph is the best alternative for illustrating percentages, since it shows every component as a major aspect of an entirety. In this way, if your information clarifies a breakdown in rates, a pie outline will unmistakably introduce the pieces in the proper proportions.
This another type of data visualization is used in market charts, market expenditures, consumer demographics, and online traffic sources.
7. Bubble Chart
A bubble chart is a further adaptation of a scatter plot, where each point is shown as a bubble whose zone has importance notwithstanding its situation on the axis. A pain point related with bubble graphs is the confinements on sizes of bubbles because of the constrained space inside the axis. Thus, not all information will fit successfully in this sort of representation.
8. Bullet Graph
Is your team moving in the direction of an objective? A bullet chart can help you outwardly keep track of your development. Comparative in format to a bar graph, these likewise consolidate other visual components.
When utilizing a bullet graph, you’ll start with a one, fundamental measure, and afterward contrast that measure with another (or various) measure to locate a more profound significance and association.
Reasons to Implement Data Visualization Tools
There are some reasons that you should opt for data visualization tools. These are as follows:
1. Helps in Comparing Values
Being a Data Analyst, you see a lot of data sets. At the point when you need to look at the distinctions and likenesses between these sets, graphs are perfect. They effectively uncover the high and low estimations of a specific set so you can note significant contrasts, gaps, and different patterns.
2. Shows Composition
You may likewise need to break your value sets apart, indicating how singular units influence the more noteworthy picture. For example, you might need to follow in general portable access on your site by device type or geological area. Or on the other hand, you should know which components of your ongoing digital marketing campaign demonstrated the best.
3. Helps in Distribution of the Data
Is it accurate to say that you are attempting to comprehend the distribution of your data? Assuming this is the case, a distribution chart will show the entirety of the potential intervals or estimations of the worth set just as how regularly they happen.
From this perception, you can recognize the typical patterns just as any outliers that could disturb them. You can likewise get an idea of how wide the range is between your data values.
4. Relationship between different Data Visualization Types
In some cases, the most ideal approach to comprehend a given variable is to perceive how it identifies with one or different factors. For example, one variable could have a positive or negative impact on another.
Tips to Improve Data Visualization Design
Sadly, many individuals imagine that rushing a couple of diagrams implies you’re doing data visualization design well. Regardless of whether you have a better than average handle on diagram plan, which you ought to in the event that you’ve looked at our manual for planning the most well-known outlines and charts, there are a couple of basic things you can do to greatly improve how your data visualization design looks and how individuals decipher it. These little changes can improve things greatly for your watcher and even spare your validity.
1. Choosing the Correct Type of Chart
There might be more than one approach to envision the data precisely. For this situation, consider what you’re attempting to accomplish, the message you’re conveying, who you’re attempting to reach, and so on.
2. Design for Understanding of the Consumer
The other thing which you need to keep in mind while data visualization design is to design for the understanding of the consumer.When you have your visualization made, make a stride back and consider what basic components may be included, changed, or expelled to make the information simpler for the consumer to understand.
You may add a pattern line to a line graph. You may understand you have such a large number of cuts in your pie diagram (utilize 6 max). These unpretentious changes have a tremendous effect.
3. Keep Chart and Graph Headers to the Point
The other thing which you need to keep in mind while data visualization design is by keeping chart and graph header to the point and simple. Keep any enlightening content over the diagram brief and simply identified with the outline underneath. Keep in mind: Focus on the quickest way to perception.
4. Avoid Using Distracting Colors and Elements
Some of the time you do need to stress a point. Provided that this is true, just utilize bold or italic content to underscore a point—and don’t utilize them both simultaneously.
5. Always use a Single Color to Represent Similar Type of Data
In the event that you are portraying sales step by step on a bar chart,, utilize a single color. In any case, if you are contrasting a year ago’s sales with the current year’s sales in an assembled graph, you should utilize an alternate colors for every year. You can likewise utilize complimentary colors to feature a critical information point.
How Data Visualization Improves Decision Making?
For organizations hoping to understand complex statistical data and settle on ongoing business choices, data visualizations are a genuine resource. They separate data into legitimate and significant parts and help consumers to stay away from data over-burden by keeping things straightforward, pertinent and clear. There are some ways that will help you to know how data visualization will help in decision making.
1. Increase in Speed
Data goes at the speed of light in our constantly associated world. Because of the quick pace of business, managers are regularly expected to settle on basic choices in brief periods. If you are not convenient, an opportunity may cruise by, or a little issue may deteriorate for the time being. Data visualization can assist you with drawing noteworthy bits of knowledge from enormous measures of information in a short measure of time.
Data gathered from a corporate technology assessment is sorted out into this beautiful bar graph. By looking at the graph, an IT administrator could promptly perceive which abilities need improvement. From that point, the supervisor could choose to dispense assets towards preparing and selecting in these aptitude zones. All inside a couple of moments.
2. Accurate Responses
Big data is a very significant asset for organizations. Marketing Managers, project supervisors, executives, administration reps need crucial information readily available to have the option to do their day occupations.
It is valuable for sales managers to have the option to list key measurements from past sales campaigns to a planned customer progressively on a sales call as opposed to stating they will leave and quest for the data and hit them up.
On the other hand for a marketing manager to have the option to get to key market pattern examination at the bit of a catch is priceless. Data visualization places information into the clients’ hands empowering them to rapidly distinguish issues and improve reaction times.
The other way through data visualization will improve decision making is simplicity in data. Advancement in technology means the kinds of data organizations are gathering from their consumers and audiences are increasing.
From conventional sources, for example, customer mailing addresses and telephone numbers to further developed socioeconomic, for example, customer behaviour and purchasing behaviors from online life, mobile applications, sites and CRM cooperations, this titanic of data is being produced each and every day in the advanced world.
Data visualizations give consumers a major picture while still having the option to see the subtleties when required. They disentangle information so consumers can carefully choose the important information they need.
4. Involvement of Team
The other way through which data visualization will improve decision making is through team involvement. Data visualizations openly show significant information progressively, so every department approaches the data it needs to more readily work together. These infographics show a mix of organization measurements, which is incredible for staying with everybody in the same spot. CMOs can base their consumer methodology and product marketing strategies from the data and search concealed examples in the information created by customer activities.
How Can We Help You?
At Brisk Logic, we provide you with robust data solutions that will help you to collect and organize data that will help you to reach your business goals. Our team will be helping you at every step of your way.
We consider the data very seriously and have the vision to empower our customers so that they are able to discover more about their customers.
As designers, we make sure to keep the data more relevant, accurate and simple through best practices and applying appropriate charts. We give equal importance to the layouts and background with the help of animations in order to interact with data visualizations.
Want to know more about us that we assist you in discovering your customer in an appropriate manner. Contact us at www.brisklogic.co
At the point when you have your hands full shuffling numerous tasks on the double, you need a fast and successful announcing strategy that permits you to get a reasonable point over. Do you realize which kind of data visualization method to utilize? We have discussed above the data visualization, its importance, about the data visualization design and graphics and data visualization can improve your decision making.