4 Benefits Of Data Visualization
Running ahead of time needs dedication and headstrong determination in the business landscape. Big data has become an unprecedented aide for diverse industries. The sovereign of big data is expanding by leaps and bounds as it is enriched with insights of every domain. It is the lifeblood of business research companies and outsourcing entities. Blowing new life to the devastated business is its premium quality. Data scientists play smartly with it and derive new business trends from the oldies. They analyze with eagle eye by observing the patterns, graphs and huge volume of data thoroughly. Eventually, what comes out is the sheer analysis that carries potential for business transformation.
Undoubtedly, the traditional data proves the proverb ‘old is gold’ correct as the analysis requires it for comparisons and interacting with its advantages and disadvantages. Now, the data also is in its revolutionary phase. The facts and figures have started acquiring shapes of graphs, images and chart patterns. Can you guess why such data visualization is taking place? Indeed, it’s the need of the hour to find such simplest and influential data visualization methods that take just few seconds to convey their meaning. Let’s catch its more benefits below:
1. Data is beautiful:
The fact that beauty attracts is not hidden from anyone. Utilizing the benefits of this fact, data scientists have evolved the idea of making data beautiful. Let I illustrate with an example.
As per Employment Projections (EP) of the US’ Bureau of Labour Statistics, the figure of total employed people (all occupations) of America in the year 2014 was 150,539.9k. This figure will increase upto 160,328.8k in the year 2024. It clearly marks the increment of 9,788.9k or 6.5% in number of employed people.
Data visualization method:
As I aforesaid, data visualization helps in interpreting the data beautifully as well as influentially. If the above said EP is represented in graphical or chart format, it would take just few minutes to understand what information is stored in that statistical data. Like this:
Employment Projections of the US Bureau of Labour Statistics (from 2014 to 2024)
2. Data Communicates
Data scientists have started assigning the power of communication to the big data. It implies that some stalwart data scientists take advantage of impressive charts, pictures and images that barely require any kind of textual elaboration. The phrase ‘a picture paints thousand words’ defines easily what I mean to say. You need not explain through elaborative write-ups. Just creating an impressive presentation enticed with lots of pictures and graphs or photos will do my job. The onlooker will quickly jump to conclusions immediately and no fact will be skipped.
Let’s have a look over its example. Instead of using long narratives for stating the estimated growth of buyers through eCommerce websites in India from year 2011 to year 2016, graphs can be very impactful communicator.
Graphical presentation of the estimated growth of ecommerce websites in India during 2011-2016
3. It’s interesting to work on data
Data research and its conceptualization is tedious task. It is the role of highly skilled and data specialists to browser hard and soft copies of the facts and figures. They have to derive seamless data and streamline it in the most appropriate databases. A little mistake can lead to blunder. Thus, data specialists should keep their passion alive. Interest factor can play the role of their best buddy in doing so. So, the incepted ideas of creativity and innovation can become their irreplaceable weapon in delivering the mind-blowing report of analysis.
Take an example of Facebook. It has been popping-up as one of the topmost social media channels. Do you have any idea why it has become the hottest choice of getting socialized with global community? From children to old ones, everyone has got the platform of sharing their data in the form of views, pictures, likes and comments. Even, branded and unbranded products as well as services have been surfacing on it. It is due to its popularity. And interest is multiplying its popularity day by day.
4. Gaining Insight Is So Easy
Gaining insight of any company of task is not a piece of cake. An entrepreneur spends his life’s valuable years and experience in establishing it. He passes through many ups and downs and then only, harvests the fruit of his hard work in the form of fat profit. Comprehending his business technicalities, strategies, operations and functions can be a hard nut to crack for any novice. But a creative data scientist has caliber to do this miracle that he does by deriving many eyeballs towards his eye-catching presentation.
Take an example of ‘Data Management’ of a data company. Comprehending the governance of data will require you to go through the insights of data architecture management, data development, database operations management, data security management, reference and master data management, document & content management, metadata management and data quality management. It’s a complete hierarchy of managing data. Getting acquaint of all these operations will eat-up your precious time. But an outstanding pictorial presentation of these functions’ hierarchy will take just few minutes to comprehend it. Like this: