Data Visualization: Boring but critical data comes alive in graphs and charts

Which alternative will you prefer?

Having your data presented in rows and columns of easy-to-miss and straining to see spreadsheets;

OR

Data presented in graphical format using graphs, charts and infographs?

Obviously the latter right? Why? Because it makes decision making easier and a lot more interactive. Arriving at a decision becomes effortless when the desired information can be seen prominently without too much of probing.

The benefit of visualizing data for analysis is that, trends become more visible and easily understandable for users. Unlike in conventional forms of data presentation, data visualization helps users grasp information quickly and effectively without taking much time for comprehension. It cuts down the unnecessary data that causes clutter without giving any value addition.

“Decision making isn’t always easy, and sometimes we make errors on seemingly trivial tasks, especially if multiple sources of information compete for our attention,” says Tobias Teichert, PhD, assistant professor of psychiatry at the University of Pittsburgh.

Better visibility of trends and business statistics lead to better decision making which in turn helps gaining an edge over competition. In fact, data visualization is largely used to foresee changes in the market and scenarios that are ahead of the curve where a business can potentially strike gold if it starts planning now.

Now that Big Data has become prominent in large business houses, data visualization is nothing but the next big thing in data analytics that is emerging with a powerful presence. Data visualization will prove to be an essential component in all major Big Data certification courses where the aspirant will learn to visualize data graphically after conducting successful analysis on it.

Blast from the past: Data Visualization was used in military strategizing

The first use of data visualization for decision making happened even before the advent of computer systems. Charles Minnard was the first individual who drafted the map depicting Russian topography where Napoleon unleashed his brutal attack. Charles tied the temperatures of the areas where Napoleon’s army retreated and coordinated them with the timescales to arrive at a more in-depth understanding of the actual events that led to Napoleon’s defeat.

Needless to say this form of pictorial presentation of information for critical thinking and data analysis did reveal from ground breaking results.

However, in the modern scenario where blazing fast computers process thousands of gigabytes of information per millisecond, data visualization plays an almost equal crucial role as it played in reframing history. The need for data visualization is felt more gravely now in industries like banking, retail, healthcare, telecommunications, etc.

Back to the future: Data visualization and its growing significance

The question that arises when one things of Data Visualization is – how and to what extent can it be used for finding value in Big Data Analytics? It is indeed just from the part of corporations to know more about a technology and the legitimacy of its promises before committing millions (if not billions) to its implementation.

Common types of data visualization

The images below show how graphical charts and graphs can be used to represent data in a better light that facilitates decision making.

Data visualization helps businesses digest large volumes of data with better clarity and coherence. As can be seen from the images above, there are plenty of ways in which data can be graphically depicted that go beyond the usual forms of data analysis. The varied forms of data presentation ensure that a business is able to think from various angles regarding a situation and arrive at purposeful decisions of value.

Needless to say, it will bring about a sea change in financial statement analysis and understanding consumer behaviour patterns as better insights based on country, age, demographics, etc. can be drawn quickly and effectively. Swift information comprehension will enable businesses to make on spot decisions to leverage the market condition. Correlating business relationships and patterns is also a related benefit of data visualization.

Spreadsheets are going to stay since they are instrumental for computation of figures, but the way data analysis will be done in the future will take a paradigm shift to pattern, graphs and charts based visual data.