With the fast & rapid development of today’s business world, companies, especially big ones, have a more serious & furious competition to face. They are in a constant war to prove their place, and power in the markets they belong to.
The new technology that rapidly and constantly developing plays a crucial rule in today’s firms, and enterprises. It assists them to function more efficiently, effectively, and faster.
The most challenge companies face is understanding their situation & performance. In order to do so, they need to analyze their data correctly to be able to understand where they stand.
One of the most useful features in processing data, whether a small, or big one, is Data Visualization. This term, Data visualization, refers to the process of changing or transforming written data into visual. In other words, transmitting information, written reports, etc. into infographics, charts, bullet graphs, radial trees, Heat maps, bubble clouds, or any other visualization means, so that it will not consume effort and time.
What makes using Data visualization important to enterprises?
There are many answers to this question. However, I will provide 6 reasons which I believe are the main reasons that drive companies to use Data Visualizations.
- Easier & Faster for Human Brain to process
It has been scientifically proven that processing information that comes to our brain as visual items are much easier than a written language.
The brain can easily transmit the visual information 60,000x times faster than written data; since 70% of our sensory receptors are in our eyes.
That is why, especially during the last 3 decades, the use of visualization can be seen in almost everything around us starting from literature, to big companies.
Visual data is widely used in big and middle-sized companies, because transferring information and data in terms of visual data is more efficient in your company. It will make it easier for others to comprehend.
- Visual Data are stored as a long-term memory.
Compared to texts or written data, visual data lasts longer. Again, scientifically speaking, processing the information and data we receive from our environment since our first days in life, have been actually come from visual data, before knowing how to read, or speak. Yet, this visual data is still stored in our memory and has a great effect on the way we think till an advanced age.
Being aware of this fact, many companies adopt exchanging their data with their employees, partners, and clients by visualizing their data to ensure long-lasting storage of their information.
- Time Saving
Presenting your reports, data, and crucial information as visual data makes it easier to convey your messages, crucial points, complex data, etc.., and it will make it easier for your audience to understand and analyze it.
The Visual Data can be presented to the stakeholders, partners, and even employees in an easier, and simpler manner.
This can result in acting faster towards certain problems, or issues. Also, it will make it more efficient, effective and time -savings for decision-makers to act promptly. Since the usage of data visualization can be effective and will be used to process work easier, it makes it better & faster to make decisions.
- Enhance communications & empower employees
Sharing this information & date among employees and managers will improve the communication inside the enterprise itself, and between its management, owners, and employees. It will grow indirectly, in your employees, the sense of being involved in the company’s decision makings and feeling more responsible for their work. As a result, the employees will be highly motivated, and their performance will be enhanced.
- Ensure Enterprise Development & Progress
Using visual data to share big & complex data is not easy, especially if you are trying to convey information to other departments in your company that does not have full access to the original data, such as how it has been collected or created, or why it has resulted into this way. Simply presenting data to an audience who has no clue about it.
Here, comes the crucial part that visual data plays in these situations. As visual data helps not only to simplify the data itself but also simplifies the way it is exchanged to others and make it more efficient.
As mentioned earlier, understanding visual data is much easier, and faster than the originally written data. It also lasts longer & easy to recall and remember.
In this way, presenting very complex information as visual data will make analyzing it easy, fun, fast, effective & efficient.
- Data Visualization Empowers your Enterprise
As a manager or owner of your enterprise, data visualization empowers you to achieve your firm’s goals effectively by focusing on the strengths your company possesses.
The visual data can reveal trends, patterns, changes & correlations better than written data, makes easier for the management to points out what needs to be corrected, if any.
It will make it easier to state which areas need to be developed, eliminated or improved.
Also, using the visual data can have a huge effect on your employees to improve and develop themselves, not only because they feel part of the company by sharing the information among them, but also by actually being able to understand how their performance can affect positively or negatively on the company’s progress.
Also, it is an easy way to help you in planning for your company’s future. Since it is easier to point out the trends, patterns, and correlations, it will be easier to have a good plan in the future. You can have a prediction on the coming year’s financial progress, according to the previous year’s data analysis.
It is crucial for companies to make good use of visual data to be able to understand their financial situation & performance. It helps companies to act fast, efficient & effective to guarantee their place in today’s business market.
However, it is important to know which type of data visualization to use, to ensure receiving the desired outcome. Each data type & size, information, each situation, and each audience require a different type of data visualization that conveys data correctly, and rapidly.
