Currently, data visualization is the talk of the town among many businesses across the domains. Besides, most companies are operating on piles of data that incorporate vibrant information that can be converted into goldmines and impact business growth. When the data is perfectly interpreted into an easily understandable format, it becomes easier for the respective business to draw insights that can impact its growth in the long run.
As the value of data visualization increases, it has been revealed that 93% of communication within a business setting is non-verbal due to the power of visualization. Besides, any company that focuses on converting the art of data visualization into actionable data insights is expected to grow into a highly developed brand within the next few years.
However, it is essential to ensure that you are well versed with the prevailing data visualization trends across the industries to keep your business updated. This has been greatly triggered by the number of companies that are adopting this method of operation, given that it has a significant impact on the growth of their brands.
The healthcare sector is one of the industries that the revolution of data visualization has heavily impacted. Data visualization can be defined as the process of presenting data in different visual formats using charts, graphs, and other visualization tools. In the health sector, health professionals use visualization to communicate patient information in a manner that is easy to read and understand.
Top Data Visualization Tools You Need to Know
• Microsoft Power BI
Microsoft Power BI is an advanced data visualization tool mainly focused on business intelligence matters. The tool offers its users a chance to access either on-premises or in-cloud data. The free version offers approximately 1GB of data usage, allowing users to easily compose data reports and share them with their respective team members.
The paid version comes with many features that enable users to interact with data fully and even share potential queries using the data catalog.
• ChartExpo
ChartExpo is another excellent data visualization tool that is determined to make data storytelling an easy task to execute. In addition, the tool does not incorporate any technical aspect in order to make the job done. It's only a matter of using a few mouse clicks, and you will have converted your stuffy spreadsheet into excellent visuals that communicate an important message to the public members.
The tool gives you the freedom to detect hidden insights from complex data values to give you a clear picture of what needs to be done in order to elevate your game in business. The visuals enable you to identify insights from a physical perspective, thus enabling you to have a competitive advantage in business.
• Tableau
Tableau is ranked among the most interactive visualization tools due to its quality functionality. The tool plays a huge role in making big data a small concept that you can execute within the shortest time possible. Tableau is a first-class data visualization tool with an incredible track record of uncovering insights from data values.
The tool comes with highly interactive features that make it easier to explore data files and display actionable data on the dashboard that can be used to predict the future and the milestones that the business has attained within a particular period.
Top Data Visualization Trends To Watch
1. Predictive Analysis
When doing data analysis for future benefit, you have to involve predictive analysis in the game to make a dream come true. This data visualization trend plays an integral role whenever you visualize insights that can enable you to foresee the future. Predictive analysis refers to the process of learning from historical data to predict the future of your business in terms of development.
This feature enables the respective organization to make well-thought-out decisions that will impact the growth of a given company. It mainly works by focusing on the likelihood of predictions depending on the historical data instead of only focusing on the past events to identify any chances of various aspects happening in the future.
This enables the business owner to stay at the top of the game since they have a clear picture of what is likely to happen in the future. Also, it helps in financial planning since it becomes easier since you can easily identify an estimated cost that can contribute to your continued growth in the long run.
2. Data Democratization
Following the introduction of multiple data visualization analysis platforms such as the Likert scale chart and comparison bar chart, dot plot chart, the data was considered difficult to read and analyze. This called for the input from the data professionals and technical support panel to guide you on how to read and interpret the data.
The technical team was mainly meant to help interpret the data in simple terms that people could easily read and understand. Apart from analyzing the data, the data analysis platforms present information in an easy-to-understand manner, thus helping in decision making. This aspect has greatly propelled the art of making data-driven decisions among businesses.
Also, it has made it easier to interpret the data without the need to possess any technical skills necessary for the data processing. The only thing required is basic reading skills, and you are good to go in matters of data visualization.
3. Artificial Intelligence
The introduction of artificial intelligence in the data visualization field has greatly changed the trajectory of things on how things are done. AI has greatly transformed the reality of things within the visualization sector which has changed how data is consumed within different domains. Remember that developed companies generate significant amounts of data that need an awesome means of analysis.
When you generate significant amounts of data, you need a unique means of processing to generate valuable insights from the data. This is where artificial intelligence comes into performance since it plays a crucial role in analyzing and processing loads of information, creating an easy means of analyzing and generating insights.
This data visualization trend is expected to grow bigger within the next few years since companies continue to generate overwhelming amounts of data that needs to be processed. Note that AI brings out a sense of data which is vital in data analysis and processing.
4. Video Visualization
Video is one of the most powerful ways of retaining content after reading. Most people tend to retain video content easily compared to text content. If you are a movie nerd, you clearly know a good movie's emotional impact. Even if the content is boring, portraying it in the video makes the concept interesting and catchy.
The human brain is known to retain more video content than text content. It's high time that business owners prioritize using video content to communicate meaningful information to their audience. This is because video content is easy to read and grasp without the need for further interpretation. Research has revealed that 67% of consumers prioritize learning about new products via videos.
This powerful report reveals the real power of investing in video visualization to create a great network of potential customers who will impact the continued growth of the business. If you have data, you intend to pass to your market audience, prioritize using video visualization to make it easier for your audience to comprehend the information.
5. Real-Time Visualization
It is vital to ensure that you are posted whenever a problem arises within your production line. The only way of making this come true is by investing in real-time visualization. Remember that when you detect problems in your business earlier, it becomes easier to take the respective action and get the ball rolling regardless of the prevailing circumstances.
Note that many activities occur within a business environment; it's essential to ensure that you are updated regarding the ongoing updates to ensure that you work on all the possible changes that take place within the business environment. Real-time visualization goes the extra mile to ensure that everything is running smoothly and every possible change has been detected to the latter.
This plays a crucial goal in ensuring the customer support team is always posted regarding the new issues that need to be tackled in real-time.
6. Mobile and Social Data Visualization
The mode in which customers access the internet is constantly changing day by day. Most consumers access the internet using their mobile phones from different localities. You should remember that visualization is not only for your in-house team members but can also reduce the chances of customer churn. Also, it can be used to attract more potential customers across different market audiences.
Regardless of the platform in which customers access your brand, it's vital to ensure that you invest in highly optimized data visualization. Given that most customers access the internet using their phones, it is essential to ensure that you invest in highly optimized content that is compatible with mobile phones. This will play a huge role in ensuring that customers are fully satisfied, and that everybody gets access to quality content.
Conclusion
The business industry is expected to grow into a comprehensive sector incorporating advanced data features. Approximately 68% of consumers tend to believe the information that is portrayed scientifically. It is vital to ensure that you work depending on the prevailing data visualization trends to enhance businesses' general growth and development.
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