Data visualisation is increasingly critical in business
Data visualisation allows businesses to understand data faster using engaging aesthetic insights. The art of data storytelling is now on the rise as more and more companies are recognising the immense power of visual data.
Using data as an analytical tool is incredibly effective. A data rich company is not necessarily a successful company, however.
Big data is considered one of the most integral elements of digital transformation. In its entirety, big data entails larger, more complex data sets that exceed the limitations of traditional data-processing software.
Despite its usefulness, the overwhelming nature of big data means that end users can often feel alienated and confused. Data visualisation tackles user bewilderment by transforming big data into easy-to-understand aesthetics.
Insurance investments in big data are forecast to soar this year, according to a survey conducted by consulting firm SNS Telecom & IT. In a similar vein, Spain is reportedly planning on tripling its big data staff over the next three years.
It is important to note that investment in big data demands investment in data visualisation. Companies can only reap the benefits of larger data sets if they are able to easily understand their analytics.
Principal of OmniChannel Danny Flamberg noted that big data is particularly effective in building customer intimacy. This is certainly the case, but only if companies are able to present this data in a user-friendly format.
This is where data visualisation flourishes. By investing in the process of converting large amounts of complex data sets, businesses can begin to generate incredible insights.
Data visualisation allows professionals from various functions to comprehend data with clarity. From finance to sales, effective visual analytics can accelerate operations and streamline business performance in general.
A study from Salesforce found that 65% of people are predominantly visual learners. If infographics can help the majority of professionals process data faster, data visualisation software can undoubtedly increase employee productivity.
Robbie O'Connor, head of EMEA business at Asana, told EM360 that a team's productivity can often be determined by their ability to “visualise progress.” This sentiment can certainly be extended to data analysis, and data visualisation in particular.
Data visualisation has the power to bring business insights to life. The visualisation market is expected to grow to a massive $6.4 billion by next year; data visualisation is now well on its way to becoming truly business-critical.
Take a look at EM360's Top 10 Big Data companies that are treading new grounds in 2018