Why and how you should Build your Data Visualization Strategy
What is data visualization? In simple words, it is the graphical representation of data and information. By using practical visual elements such as graphs, maps, tables, charts, and infographics, data visualization makes it accessible and approachable to understand and interpret trends and patterns in data. We are living in a world with Big Data. For this reason, technologies and data visualization tools are a significant hand in making data-driven choices and analyzing lots of information.
Anyone in business can employ data visualization, alright. Without the most effective strategy, you would hassle a lot when it comes to deriving value from the data in your business. That brings you to an understanding of the mystery behind data visualization to unfold new insight.
Three cornerstones/components of effective data visualization
Business Analytics
Business Analytics analyzes, use, and act on implications of data they observe. Another part of this strategy is the verification of insight validity, whereby all data hypothesis created focuses on user experience. Business Analytics allows you to make decisions quickly and accurately visa vie massive amounts of data.
Math/ Statistics
Data Science is the “backend” of any analytical solution. Data scientists employ statistics to build the “bridge” between summarized information and raw data. They effectively leverage data and communicate their data-driven findings to unfold valuable insights.
User Experience (UX)
Look at is as research that focuses on the user and end-product design. It revolves around on the practical hassles that the user is likely to encounter along the way. As a user, you can easily engage with your data and at the same time, command an enlarged conversion rate and more visitant traffic your way.
When one thinks about data, the first thing that would probably come to mind is business analytics and data science? Where then does data science lie in this trio? It may seem like a “not so big deal” with reverse order of importance, but that is not it. You need the proper UX to save yourself the risk of losing essential business insights that stored in your data.
On top of it, your data gets a distinct audience of users to acknowledge its value. One has to ask the right questions to get the right UX and to understand how to visualize data.
Why is it So Important to Use the Data Properly?
Well, research, according to an Experian report, has it that a significant 95% of companies in the United States of America use data to increase the competency of business opportunities. 85% of the same population also believe that to build a business strategy, they require information. The research also showed that strategic drivers are also essential to maintain high-quality data.
A particular data lacks meaning without the right context. The case is no different with graphs. You only make one when you know its context of usage. It is important to:
- Know how your audience will consume your information
- Dialogue about your business goals and your target audience
- Keep a toolkit of software knowledge, graph types UX skills and digital analytics
- Ask the right questions
The last point brings us to the relevant design questions that a professional visualization specialist uses to visualize data. Asking the right questions beforehand also helps to modify data to the precise audience. As such, our NIX team always begins by asking these questions upfront:
- What do you expect for the amount and examples of datathat will need handling?
- What are the sharing options that you prefer to have for the visualization?
- What problem do you seek to solve with visualization?
- Who will be the end-users of visualization and how many will they be?
- What type of data sources do you see to aggregate for the visualization?
- Do you have different expectations for different roles of users?
- What devices would end-users use to consume the visualization?
- How frequently (real-time, on-demand) do you want the data on the visualization to be updating?
Advantages of Data Visualization
Using data visualization techniques to effectively communicate ideas gains insight for your business in many ways. You know that data continues to increase in volume, which is a good thing. The “increase” word is not always a good thing, but, the case can still be different once you start reaping the benefits of data visualization. The advantages are countless, some of which include:
- Data Visualization for identification and response to emerging trends
Data visualization uses information design to provide an insight into emerging trends and provide an answer to them based on what we see. Sense becomes even better when these trends are represented graphically using basic diagrams and visuals. Whereas some relationships and parameters are apparent to identify and detect, some are not. They need to be highlighted to enhance customer focus and influence their decision-making.
- Data Visualization for precise and fast comprehension of information
Data is going, and the more it continues to do so, catching up with information proves to be harder. The implementation of this visualization would ensure that you apply data to your business fast and with precision.
- Data Visualization to visualize massive volumes of data
Graphical representations have enabled fast and easy visualization of large amounts of data. On top of it, it has enabled people to understand the information coherently and at the same time, draw insights and conclusions.
- Data Visualization helps us to understand data and reach insights and outcomes
Every system benefits from understanding data. Come to think of it; it is impossible to admit that professional industries from making their data more understandable. As prolific as raw visualization is, it enables professionals to use data for decision-making, which makes them fit into this data-driven world.
- Creates a distinction between patterns and connections within digital assets
There comes a competitive advantage due to discerning trends in data. The presentation of data and infographics are competent to help you discern the factors that affect product quality positively.
- Provides diagrams and visuals for identification of deeply-related parameters
It is an ideal medium that enables the easy creation of a story or information through diagrams and visuals.
- Data Visualization for active problem-solving- it helps to solve significant problems in an organization, including the ones related to product quality.
Conclusion
Now you know that data visualization is one of the essential tools that can be used to derive value out of data. The fact that it also defines how analysts should go about information assets to extract insights makes it an essential implementation. We at NIX are well-experienced in the field of data visualization. We provide visualization strategy solutions to evolve the data in your business to bring success to your business.