Organizations continue to push data-driven decisions for greater amounts of their activities. As a result, the demand to understand meaning within the mountains of collected data is rapidly growing.
Informed decision making is the foundation upon which successful businesses are built. As a decision maker for your business, you need access to highly visual business intelligence tools that can help you make the right decisions quickly.
Visualizing data can make it easier for business users to grasp, especially when data visualizations are embedded in dashboards. Executive dashboards help BI system users visualize complicated, complex data, and assist upper-level management in directing and managing business growth and performance by providing a snapshot of current conditions and early warnings for potential issues. So the ability to visualize data is a critical concern for many of those looking to use business intelligence software.
The most recognizable and utilized form of data visualization is the basic charts. Line, bar, area and pie charts represent the most common types of this form. The first function of a good chart is to allow decision makers to examine the data and reduce the time required to extract key information.
More advanced examples of data visualization include scatter graphs, bubble charts, spark line charts, geographical maps, tree maps, Pareto charts, and many others.
According to the Software Advice report, 25 percent of buyers want the ability to “drill down” or “slice and dice” their data using visual methods. More enhanced drill-down dashboards give business intelligence software users the added power to understand more about what’s driving the numbers. Successful visuals allow quick analysis to expose patterns, correlations, business conditions and trends.
As it stands today, there’s lots of room to grow in this area. But at the bottom line, good data visualization enables better business decisiongs when correctly deployed. Successful data visualization provides the ability to expose problem areas and communicate those problems universally. Not being able to clearly identify and share your discoveries to back up your decisions can mean the difference between taking appropriate and decisive action and losing momentum or failing to act.