Importance
& Benefit
of Data
Visualization
Tools!
© 2020 All Rights Reserved | Splash Business Intelligence Inc. | www.splashbi.com
Contents
Importance of Data Visualization
What is the Purpose of Data Visualization?
Benefits of Data Visualization Tools
Data Visualization Has a Creditable Impact on Businesses
How SplashBI Can Help!
© 2020 All Rights Reserved | Splash Business Intelligence Inc. | www.splashbi.com
Any format that visually represents data is Data Visualization. It can
be a chart, a graph, images, etc. Whatever enables the data to
communicate is vital to help analyze the data.
Importance of Data Visualization
Data visualization is essential to assist businesses in quickly identifying data
trends, which would otherwise be a hassle. The pictorial representation of
data sets allows analysts to visualize concepts and new patterns. With the
increasing surge in data every day, making sense of the quintillion bytes of data
is impossible without Data Proliferation, which includes data visualization.
Every professional industry benefits from understanding their data, so data
visualization is branching out to all fields where data exists. For every business,
information is their most significant leverage. Through visualization, one can
prolifically convey their points and take advantage of that information.
A dashboard, graph, infographics, map, chart, video, slide, etc. all these
mediums can be used for visualizing and understanding data. Visualizing
the data enable decision-makers to interrelate the data to find better insights
and reap the importance of data visualization, which are:
1. Analyzing the Data in a Better Way
Analyzing reports helps business stakeholders focus on the areas that require
attention. The visual mediums help analysts understand the key points needed
for their business. Whether it is a sales report or a marketing strategy, a visual
representation of data helps companies increase their profits through better
analysis and better business decisions.
2. Faster Decision Making
Humans process visuals better than any tedious tabular forms or reports. If
the data communicates well, decision-makers can quickly take action based
on the new data insights, accelerating decision-making, and business growth
simultaneously.
3. Making Sense of Complicated Data
Data visualization allows business users to gain insight into their vast amounts
of data. It benefits them to recognize new patterns and errors in the data.
Making sense of these patterns helps the users pay attention to areas that
indicate red flags or progress. This process, in turn, drives the business ahead.
© 2020 All Rights Reserved | Splash Business Intelligence Inc. | www.splashbi.com
What is the Purpose of Data
Visualization?
The purpose of data visualization is pretty clear. It is to make sense of the
data and use the information for the organization’s benefits. That said, data
is complicated, and it gains more value as and when it gets visualized.
Without visualization, it is challenging to quickly communicate the data
findings and identify patterns to pull insights and interact with the data
seamlessly.
Data scientists can find patterns or errors without visualization. However,
it is crucial to communicate data findings and identify critical information
from them. And for this, interactive data visualization tools make all the
difference.
A relevant and recent example is the ongoing pandemic. Yes, data
scientists can look into the data and gain insights. But data visualization
is assisting experts in staying informed and calm with such an abundance
of data.
• Data visualization strengthens the impact of messaging for your
audiences and presents the data analysis results in the most persuasive
manner. It unifies the messaging systems across all the groups and fields
within the organization.
• Visualization lets you comprehend vast amounts of data at a glance and in a
better way. It helps to understand the data better to measure its impact on
the business and communicates the insight visually to internal and external
audiences.
• Decisions can’t be made in a vacuum. Available data and insights enable
decision-makers to aid decision analysis. Unbiased data without inaccuracies
allows access to the right kind of information and visualization to represent
that information and keep it relevant.
Data visualization has the potential to solve many business issues.
All businesses must incorporate data visualization tools and reap
transformative benefits in their critical areas of operations.
© 2020 All Rights Reserved | Splash Business Intelligence Inc. | www.splashbi.com
The Benefits of
Data Visualization Tools
Solves data inefficiencies
and absorbs vast amounts
of data presented in visual
formats.
Increases the speed of
decision-making.
Identifies errors and
inaccuracies in data
quickly.
Access real-time
information and assist in
management functions.
It promotes storytelling
and conveys the right
message to the audience.
Explore business
insights and achieve
business goals in the
right direction.
Stay on top of the game
by discovering the latest
trends.
Optimize and instantly
retrieve data via
tailor-made reports.
Uncovering the Benefits of Data
Visualization Tools
• Effective Data Visualization is the key to unlock Big Data. It can solve any
data inefficiencies and easily and instantly absorb vast amounts of data
presented in visual formats.
• By enabling users to understand data rapidly, visualization can quickly
increase the speed of decision-making as well. Any business must make
fast decisions and not get bogged down by inefficiencies. Timely actions
result in averting any losses and benefit from any market condition.
• A big reveal for any differences in the trends and patterns is vital for any
business’s survival. It is critical to know what is causing increased losses or
© 2020 All Rights Reserved | Splash Business Intelligence Inc. | www.splashbi.com
what is required to maximize gains.
• Visualization helps identify errors and inaccuracies in data quickly.
• Companies can utilize visualization to access real-time information and
assist in management functions in a significant manner. Decision-makers
can benefit from on-demand data and use visualization to increase the
effectiveness of operations and improve productivity.
• It promotes storytelling in the most compelling way. Visuals are used in the
most meaningful way to convey the right message to the audience.
• Data visualization assists in exploring business insights to achieve business
goals in the right direction. It helps to correlate the data from the visual
representations or graphical representations. It allows for fast analysis and
instantly digests critical metrics.
• It enables enterprises to stay on top of their game by discovering the latest
trends through data visualization tools.
• Without data visualization, businesses would have to spend tons of their
time customizing reports and modifying dashboards, replying to ad hoc
requests, etc. The benefits of Data visualization tools optimize and instantly
retrieve data via tailor-made reports, which significantly cuts down on
employee time.
Data Visualization Has a Creditable
Impact on Businesses
While big data is conquering industries. Business Intelligence is taking huge
strips of data and turning it into insightful data points. Data visualization is
doing its part by quickly presenting the data to transfer the information to
the human brain.
There is a lot of aesthetic value in visualization that accounts to represent a
clear message and convey it.
For businesses where data is the single most crucial thing, they will start going
out of business without data visualization. The winning competitive advantages
of data visualization can make or break companies. It is imperative to recognize
that we have no shortcuts to make faster and better decisions in this time and
age without visualizing the data.
© 2020 All Rights Reserved | Splash Business Intelligence Inc. | www.splashbi.com
How SplashBI Can Help!
SplashBI offers immersive dashboards, which can make a massive difference in
the way data visualizations impact your company. SplashBI’s visual composer is
the best resource for data visualization tools in the industry.
With over 100 types of charts and interactive dashboards, it enables increased
visibility and leverage hidden patterns within your company’s data to make
impactful data-driven decisions.
https://splashbi.com/
© 2020 All Rights Reserved | Splash Business Intelligence Inc. | www.splashbi.com