Companies produce more and more data and this will continue to increase. However, all this information is not always relevant to a business senior management and to decision makers. Before being used for decision-making purposes, information must be collected, organized and analyzed.
Data visualization allows to combine information, analyze trends and share valuable business data in a user-friendly and efficient way. Thanks to its visual appearance, it makes the large quantities of information more digestible for users. Interactive maps, graphics, risk maps and infographics are examples of simple and powerful data visualization.
Data visualization allows you to:
make better decisions based on improved information;
increase the number of employees able to analyze and build upon existing information;
gain an overview of the data.
5 reasons to take advantage of the data visualization
1. Get a new and more efficient way to convey and assimilate information
Generally, business information compiled by management teams includes tables and unattractive static graphics. Companies using data visualization are more likely to find new ways to interpret the data. They can also find the information they need more easily and are more productive.
2. Locate the links and trends between different business activities
By facilitating correlations, data visualization allows managers to identify more quickly the sources of problems, and thus, to resolve them more quickly. Data can also be compared quickly and easily.
3. Face emerging market trends more quickly
Several opportunities may be discovered by interpreting insights. To be able to collect this data is a competitive advantage since it allows organizations to understand changes in the market and consumer behaviour.
4. Interact directly with data
Data visualization tools allow you not only to see the data, but also manipulate them and interact with them. The most effective actions can therefore be put forward on the basis of analytical models developed through real-time visualization and predictive analytics.
5. Tell compelling stories
To engage your data management teams translates into higher performance. The way employees see the information changes due to the opportunities to tell a story through the data brought by data visualization.
To learn more about the data visualization or to access a free trial of SAP Lumira, a data visualization solution, please contact us.