Data Visualization’s Value for Business

Growth of data is exponential compare to number of data scientist. With so much information being collected through data analysis in the business world today, we must have a way to analyze and understand the data more quickly and extract its value to business to have an edge against the competitor.

Data visualization has a vital role in decision-making process. With the help of interactive visual representation of data, businesses can now recognize patterns and make decisions according to it. Data visualization helps us deliver the root idea of the data: Correlations, Trends over time, Frequency, Risk and Reward, Examining the market and Reacting to market in the most efficient way possible.

Data visualization can be considered as universal tool for communicating data information. Technical people and business people can both understand the visualization. Data scientist crunch the raw data, models it, analyze it so that conclusion can be reach. Then data visualization is used to convey the information to stakeholders, business owners and decision-makers.

More often than not, business people are the one that has to make an administrative decision so it is important to effectively convey the information to them using visualization instead of mathematical calculations.

We need data visualization to turn raw and unorganized information to something usable and understandable. We need graphs and charts to communicate the findings to gain an insight and make decisions faster.