Did you know, more than 90% of the world’s data was generated in the last 5 years? Not just that, we also generate about 3 billion GBs of data every day.
In the corporate world, “big data” is a general term that’s widely used for data too complex and large to be handled by traditional data processing software.
Whether your company is one of the many trying to win the race to Mars or just a small group of professionals buying and selling all kinds of electronics, one truth that cannot be denied is that your business generates “big data”. Lots of it. And it is this data that will help your company detect and fix its weaknesses, capitalize on its strengths and further grow your business.
In order to decipher what the data is trying to tell you, you need to visualize it. Humans have always found it easier to understand visuals than text, hence the idiom “a picture is worth a thousand words”. The reason behind this is that our brain processes visuals 60,000 times faster than they do text.
So, if you want to know what the data is trying to tell you, data visualization is the best option you’ve got. Still not convinced? Take a look at these six of the many reasons, as shared by the web design company in London, that makes data visualization important for your business:
Helps you find patterns
Trying to find patterns in your data by reading lengthy texts, numbers and dry corporate language will give you nothing other than a good night’s sleep. But throw this data into a pie chart or a line graph and chances are, the patterns will not just emerge but jump right at you!
If you want to insulate your organization from any sudden changes the market might go through, visualizing the market data is the only decent option you can rely on.
But, it’s important to keep your visuals as simple as they can be, otherwise, they’ll lose their voice. You can always create more visuals to cover all the data; just don’t try putting all of it in just one infographic.
Enables you to tell stories
Data analysis is the painstaking work that data scientists and computers go through to find the story that the data is trying to tell you. Now, once they have the story, to save themselves from having to write really long reports to explain the results, they just quietly turn the results into some charts and graphs that everyone can easily understand.
Usually, these data stories are then compressed in PDF format (thanks to some of the best PDF viewers online) and shared with everyone with ease.
The truth is, getting your point across can get a little difficult sometimes and that’s exactly why visuals are so widely used today. From authors, bloggers, teachers, brands, and politicians to tech and media companies, everyone is using visuals to get their message across by making it much easier to understand.
Allows you to see the real picture
If you know what you’re doing, visuals are rather easy to create. Hence, industries around the world have seen their reliance upon IT experts somewhat lessen as departments like R&D, Marketing and such can now process and visualize the data themselves.
As no one likes being the bearer of bad news, it’s common among the lower and mid-level employees to use vague terms when delivering not-so-great news to the company. Naturally, this can cause confusion. The solution to this problem is ingraining the use of visuals into the DNA of your company.
When all the facts and figures are represented in the form of visuals, no one can sugarcoat anything or try hiding the truth using vague terms. Employees are left with no option other than providing their superiors with the whole picture.
Makes comparisons easy
Imagine sitting in the conference room, trying to visualize the new users/customers your 5 biggest competitors added while Sharon from the office reads the numbers to you. Difficult task, right? Now imagine Sharon showing this data in the form of a pie cart. Sounds better, doesn’t it? That’s because data visualization can make data comparison extremely easy.
As data visualization breaks the data into small, simple bits to get the point across, it can help you better understand the market and your competitors. But, the best thing about it is that it can help you better understand your own business. It has the power to pinpoint where your strengths (and weaknesses) lie.
Once you know what your strengths and weaknesses are, you can easily devise a plan to help capitalize on your strengths and get rid of your weaknesses. So, in a way, data visualization isn’t just making the data easier to understand or compare but it’s also helping you in making the right decisions for your business.
Stays with you for a long time
Understanding and processing visuals are something that is ingrained in our nature. Studies have shown that even as babies, humans prefer visuals over text and this preference stays with us our entire lifetime.
And not only are we better at handling and comprehending visuals than text but research has also shown that visuals are committed to long-term memory a lot easier than text. Remember that next time you’re preparing for the annual corporate meet-up.
Leaves an impact
Imagine an environmental organization trying to raise funds by telling everyone how many square miles of trees they have been planting every year since their inception. Now imagine the same information being shown in the form of the percentage of forest cover the city/country had before they started working and how much forest cover it has after their work.
The second option will work much, much better at winning hearts and change minds, as studies have shown. So, if you have got some important business information to convey to your boss or a new idea to present to some investors, data visualization will help you get the job done.
Here’s an infographics explaining the how data visualisation helps your business