What is Data Visualization?
Data visualization is the graphic representation of data. It involves producing images that communicate relationships among the represented data to viewers.
Why opt for Data Visualization with Trugo?
It has been proven that humans grasp information faster through visualization. In a company, reports can easily be conveyed to decision-makers through visualization, this enables them to act faster than in a situation where the data is presented as reports. Data visualization aids stakeholders in a company to analyze reports regarding marketing strategies, product interest, and sales.
Types of Data Visualization
Data visualizations belong in the temporal category if they satisfy two conditions: that they are linear, and that they are one-dimensional.
Data visualizations that belong in the hierarchical category are those that order groups within larger groups.
Network data visualizations show how they relate to one another within a network.
Multidimensional data visualizations have multiple dimensions. This means that there are always two or more variables in the mix to create a 3D data visualization.
These types of data visualizations are commonly used to display sales or acquisitions over time and is most recognizable for their use in political campaigns or to show market penetration in multinational corporations.
Benefits of Data Visualization
The human brain will largely process visual data more effectively than written data. Compared to reports or spreadsheets, using graphs to summarize complex data ensures a faster understanding of relationships. This gives a very clear form of communication for company executives, it enables them to decrypt and act on their data more quickly. Data visualization tools provide real-time data so that stakeholders can evaluate problems easier. In any industry, responding quickly to market changes and quickly identifying opportunities is a competitive advantage.
Understand Connections between Operations and Results-
One of the advantages of data visualization is that it allows users to follow the correlation between general business performance and operations. In a competitive environment, finding the relationship between market performance and company functions is crucial.For example, the sales director of a furniture company may immediately see in a chart that sales for its leading product have dropped by 8% in the Northern region. The chief will then be able to gain insight into where the changes are taking place and begin to formulate a plan. Following these lines of thinking, data visualization enables decision-makers to quickly identify problems and take follow-up actions.
Interact With Data-
The main advantage of data visualization is that it exposes changes on time. In contrast to static charts, interactive data visualization enables users to manipulate and explore data to reveal different factors. This creates a better use of analytics. For example, data visualization tools can show an Electronics manufacturer that there is a reduction in its glow bulb sales.