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The Power of Data Visualization: Why Data Visualization Is Critical To Your Business

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Here's a complete guide to data visualization for businesses - learn the different types of data visualization, tools you can use, and more.

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5 Reasons Why Data Visualization is Critical to your Business | Grepsr

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Data visualization is an extremely powerful tool to get complex ideas across easily, and to bridge the cross-deparmental divides within an enterprise.

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Our data visualization services enable businesses to develop interactive dashboards and reports that communicate their data to deliver actionable insights.

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Is your boss constantly bugging you about getting better at data analytics? Nowadays, it's not just the data science team that has to think about how to communicate with data. Everyone in a data-driven organization is expected to understand dashboards and develop meaningful data visualizations.

According to recent research by IDC, 70 percent of managers and directors confirm that in the past 12 months their executives have explicitly called for their enterprises to become more data-driven.

So how do you get that done? The latest generation of analytic tools provides the perfect way for both technical and non-technical users to get powerful insights and make an impact.

Support Business Users with Robust Analytics It's more important than ever to provide business users with robust analytics and data visualization tools to support smarter, faster decisions.

Here are four ways data visualization can help your organization:

Improved response times: Data visualization puts the data into the users' hands allowing them to more quickly identify issues and improve response times.

Greater simplicity: Using visualizations allows users to get the big picture and see the details at the same time. It simplifies the data by allowing the users to interact only with relevant data.

Easier visualization of patterns: Have you ever tried to find patterns in data while reviewing thousands of lines in a spreadsheet? Using visualization allows users to better absorb the data and see new paths. This enables users to identify new patterns and trends that were impossible to see using tabular data. It allows decision-makers to view data using graphical representations including charts, fever charts, and heat maps.

Enhanced collaboration: Collaboration gives teams access to the strengths and skills of everyone involved by combining the experiences of the entire group. These skills can be used to solve problems faster and improve innovation. Using advanced visualizations makes it easier for teams to collaborate. Instead of having to consume tens of thousands of lines of data, they can rely on visual representations that consolidate the data.

Bottom line: AI-driven visual analytics and dashboards allow companies to discover solutions quicker, explore potential patterns, and improve decision making.

Bottom line: AI-driven visual analytics and dashboards allow companies to discover solutions quicker, explore potential patterns, and improve decision making. Click To Tweet

Ready your business for the future with TIBCO Spotfire® analytics and speed up time to insights for better business outcomes. Check out this guide to how to enable a truly adaptive, data-driven organization to get started.

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4 Ways Data Visualization Will Help Your Organization Become More Data-Driven | The TIBCO Blog

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Is your boss constantly bugging you about getting better at data analytics? Nowadays, it's not just the data science team that has to think about how to communicate with data. Everyone in a data-driven organization is expected to understand dashboards and develop meaningful data visualizations.

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How Data Visualization Benefits Your Business - Regex SEO Blog

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More and more companies see the urgent need to lean into a data-driven approach to business these days. As ’big […]

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Pat Hennel
While business intelligence tries to make sense of all the data that's collected each and every day by organizations of all types, communicating the data in a way that people can easily grasp often becomes an issue. How do we get data to the people who need it in a way that makes the most sense to them? How do we find outliers within the data that need to be managed? And how do we communicate key performance indicators (KPIs) that are common across the organization in a way that can be understood by all?

The answer is with data visualization. And for most businesses, such visualization is typically in the form of dashboards that are delivered to the desktops and mobile devices of business users.
The Importance of Visualizing Data
Visual dashboards take information out of rows and columns and puts it into eye-catching charts and graphs that people can easily understand. These dashboards help all types of business users visualize complex data sets using dynamic representations that make huge volumes of data comprehensible - even exciting - to them. They also provide management with timely, graphically illustrated snapshots of their organizations to help them make better data-driven decisions for managing both business growth and performance.
Some Cool Stats About Data Visualization
Data visualization evolved because data displayed graphically allows for an easier comprehension of the information, validating the old adage, "a picture is worth a thousand words." As a matter of fact, our brains have the ability to process visuals much faster than text. It's been reported that 70 percent of all our sensory receptors are in our eyes, and that we can usually discern a visual scene in less than one-tenth of a second. That's a lot quicker than how long it typically takes us to read and comprehend text-only information.

Here are some other cool stats on the power of visuals:

Our eyes can process 36,000 visual messages per hour.

90% of information transmitted to the brain is visual.

Visuals are processed 60,000X faster in the brain than text.

How Data Visualization Can Pay Off in Business

In business, proper data visualization provides a different approach to show potential connections, relationships, etc. which are not as obvious in data that's non-visual. It works with the human visual system and can help a viewer see correlations, patterns, and outliers in his or her data that fall outside the norm and can have a profound impact on a business.

To illustrate this, we worked with one of our clients to create data visualizations highlighting product shipment data and noticed immediately that their number of expedited shipments consistently rose from a few early in the week to several on Fridays. By drilling through the data using visual, interactive links, the client was easily able to see that most of the inventory required for their largest client was typically depleted by Thursday of each week and that they were taking products straight from production, packing and shipping them overnight at week's end to avoid penalties. Having the ability to spot these outliers more easily in the visualization (or dashboard) and to immediately interact with the data to figure out what was happening played a major role in helping this client now save tens of thousands of dollars weekly.

Is it possible to communicate these types of results in a multi-page spreadsheet? Of course it is; but have you ever tried to identify patterns while looking through hundreds if not thousands of lines in a spreadsheet? It's not easy! By mapping out data visually, it's not only a lot easier to digest and interpret, it's also a lot easier to find and recognize important patterns, trends, and relationships in a glance which would have otherwise been nearly impossible to see.

Now, that's bringing business intelligence to life!
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Categorised in: Intelligent Analytics, Silvon Customers

This post was written by Pat Hennel

# data[].attributes.attachment_link.title
Data Visualization Brings Business Intelligence to Life

# data[].attributes.attachment_link.description
Pat Hennel While business intelligence tries to make sense of all the data that's collected each and every day by organizations of all types, communicating the data in a way that people can easily grasp often becomes an issue. How do we get data to the people who need it in a way that makes the most sense to them?