With the way the human brain processes information using graphs or charts to visualize a large amount of complex data, we can say it is easier than poring over reports or spreadsheets. Data visualization is an easy and quick way to convey concepts in a clear and universal manner-and it is possible for you to experiment using different scenarios when you make slight adjustments.
With data visualization, you can also:
Identify areas needing attention or improvement
Clarify factors that are influencing customer behavior
Understand your most effective marketing channels
Spot errors in your website and fix them
Allocate paid campaigns to most efficient channels
Predict sales volumes
To take advantage of visual analytics, it is imperative that organizations address the varying number of challenges confronting them, as it relates to visualization. Below are some of the few problems and potential solutions.
Meeting the need for speed.
In a highly competitive environment such as we found ourselves, companies not only need to do a complete analysis of the data they need, they must do it quickly too. With visualization, organizations can do analysis and reach decisions much quicker. But the challenge here is the sheer volume of data at their disposal, and also accessing the level of detail that is needed, all at speed.
One of the possible solutions is hardware and along implementation of a business application. To crunch large volumes of data extremely quickly, some vendors resort to using increased memory and powerful parallel processing. Another useful solution is putting data in-memory with the introduction of a grid approach, where several machines are deployed to solving problems. But not many businesses have the money, resources, time or the necessity for these types of projects, especially small business.
Understanding the data
It takes a lot of understanding to get data in the right shape so you can use visualization as part of data analysis. Take, for instance, if data is coming from social media content, you need to know who the user is and have a perfect understanding of what you are trying to visualize out of the data. One thing you must understand is that visualization tools are likely to be of less importance to a user without some context and goals of the organization. Data has value only when it helps make a better decision fast and precise.
Having the proper domain expertise in place is one solution to this challenge. Many small businesses now outsource their marketing tasks to be more efficient. Ensure that people analyzing the data have a perfect understanding of where the data is coming from and the audience consuming the data and the interpretation of it.
Addressing data quality
Let’s take for instance that you can analyze data so quickly and put it in a proper context for the audience to consume the information. It rests assured that the value of the data for decision-making will be jeopardized if the data is not timely or accurate. This is the usual challenge with data analysis. But when you consider the volumes of information that is involved in any data projects, it becomes even more elaborate. It is only when data is clear and well organized that the visualization readings will be valuable.
To militate against this issue, companies must have in place, information management process to make sure that data is clean.
As more businesses are discovering, data visualization is becoming an essential part of analytics. For big companies, the availability of high-performance analytics and in-memory technology that deploys data visualization is offering a better way in data analysis and more quickly too. A good way to start is with visual analytics to take raw data and present it in a way that is more meaningful and can generate the most value. Nevertheless, when it is used with big data, visualization leads to some challenges. But on the flip side, if you’re ready to deal with these challenges head-on, the guarantees for success are much on the high side. We recommend you start with a simple SaaS no set up solution such as GSGTECH.
So wouldn’t you rather indulge?
Ruben R. Mata