By 2015, the global annual rate of data production is expected to reach 5.6 zettabytes, double the rate of growth in 2012, according to IDC. Data visualization tools and techniques offer executives and other knowledge workers new approaches to dramatically improve their ability to grasp information hiding in their data. Here are the top five benefits that data visualization offers to decision makers and their organizations:
1. Absorb information in new and more constructive ways. A May 2013 survey by Aberdeen Group finds that managers in organizations that use visual data discovery tools are 28 percent more likely to find timely information than those who rely solely on managed reporting and dashboards. Moreover, 48 percent of business intelligence users at companies that use visual data discovery are able to find the information they need without the help of IT staff all or most of the time.
2. Visualize relationships and patterns between operational and business activities. One of the key benefits of data visualization is how it enables users to more effectively see connections as they are occurring between operating conditions and business performance. In today’s highly competitive business environment, finding these correlations among the data has never been more important.
3. Identify and act on emerging trends faster. Using data visualization, decision makers are able to grasp shifts in customer behaviors and market conditions across multiple data sets much more quickly.
4. Manipulate and interact directly with data. Unlike one-dimensional tables and charts that can only be viewed, data visualization tools enable users to interact with data.
5. Foster a new business language. Simply it means to tell a story through data.
Engaging executives with data visualization can open up new ways of looking at business and operational data, enabling senior management to scale new heights in business performance while enabling a much broader audience of analytics users in the quest for greater performance.
References:
http://data-informed.com/top-5-business-benefits-using-data-visualization/