Do you know why there is a massive rise in the use of data visualization tools?
The answer is simple: It’s a result of the fact that they offer simple imagery that reveals crucial details about business operations and consumer behavior.
According to a Fortune Business Insights report, the data visualization industry was expected to be worth $8.85 billion in 2019. The market value is anticipated to reach $19.20 billion by 2027, growing at a compound annual growth rate of 10.2%.
Data visualization can help you engage website visitors and inform them about your company.
Using visualization, you can retain visitors to your pages and encourage them to learn more about your company. Future lead conversions for your company will increase as a result of this.
Using the right tools, which are crucial for producing charts that interest your audience, will assist you in developing these visualizations.
They assist in developing a visual method of data presentation and improve audience comprehension of your data over a block of text.
In this article, you will learn the necessary things you have to know about data visualization. Not only that, but you’ll also see some of the best tools to use for data visualization.
Grab a chilled drink, and let’s get started!
What is data visualization?
Data visualization involves putting information into a visual context, such as a map or graph, to make it simpler for the human brain to grasp and draw conclusions from the data.
Making it simpler to spot patterns, trends, and outliers in huge data sets is the core objective of data visualization.
Information graphics, information visualization, and statistical graphics are all terms that are frequently used interchangeably with one another.
One of the processes in the data science process is data visualization, which asserts that after data has been gathered, processed, and modeled, it must be represented to conclude.
Data visualization is a component of the larger field of data presentation architecture (DPA), which tries to search, locate, manipulate, format, and transmit data as effectively as possible.
It’s vital to keep in mind that data visualization is used by data teams and may also be used for various other purposes.
In addition, management uses it to communicate organizational hierarchy and structure, while data scientists and analysts use it to identify and explain patterns and trends.
Types of Data Visualization
Knowing how to compile the wealth of information at our fingertips into digestible, valuable thoughts is crucial. However, deciding how to structure your analytics approach can be challenging if you handle many content assets with diverse data sources.
Knowing the appropriate types of data visualization to employ is helpful in this situation.
The following are the most common types of tools used for data visualization:
- Line Graphs – (also known as line charts) are used to show how something has changed in value over time.
- Column Charts – simple to understand, quick to compare different data types. It can also be used to track data sets over time.
- Bar Graph – A bar graph makes it possible to quickly compare data sets from distinct groupings. The graph only produces a discrete value on one axis while representing the categories on the other.
- Pie Chart – a circular graph that uses “pie slices” to represent the relative sizes of the data.
- Scatter Plot – (also known as a scatter graph) displays the relationship between two variables. The objective is to show how much one variable affects another.
- Pyramid Diagram – efficient way of showing a hierarchy. The pyramid tiers are set up in ascending order.
- Mekko Charts – aids in value comparison, measurement, and composition analysis. At the same time, you will be able to study data distribution.
Why is data visualization important?
Performing CPG analytics, for instance, is a vital exercise that’s to be done in any business. That, for sure, will involve the use of data visualization.
That shows one of the many ways in which data visualization can be beneficial to your business.
As we gather more and more data, data visualization becomes increasingly crucial since there is so much of it that it is difficult to distinguish between what is relevant and what isn’t.
Data visualization could assist by conveying data in the most effective manner possible, regardless of your chosen business or career. Data visualization, a crucial phase in the business intelligence process, takes the raw data, models it, and then presents it so you can conclude it.
In a business setting, data visualization enables decision-makers to tell a story, which allows them to take action more rapidly than if the data were provided as reports.
So, why should you use data visualization tools to process the numerous types and enormous amounts of data produced throughout your company? It’s because making data easier to interpret benefits all organizations, in a nutshell.
Here are a few points on the importance of data visualization for your business:
Big data can be easily assimilated.
Projects involving big data and data analysis have grown in popularity, raising the importance of visualization. Machine learning is being used by businesses more and more to collect vast volumes of data that can be slow and difficult to filter through, understand, and explain.
You can speed up the process and present information to stakeholders and business owners in ways they can understand.
Enhances decision-making process
You can make decisions more quickly with data visualization, and users can better understand patterns and trends.
The advantages of data analytics are now accessible to various roles within your organization, even those who may not be subject-matter experts.
Even though they might not be specialists at reading data themselves, your sales personnel can comprehend consumer behavior and attitudes if you use the proper data visualization technologies.
Provides in-depth trends and uncovers hidden patterns
Data visualization reveals links, trends, and patterns that are difficult to spot in numerical data or other conventional forms of representation. Data visualization can lead to deeper conceptions and correlations.
Data visualization tends to produce more accurate sales projections than other methods. When it comes to understanding consumer behavior, visualization makes it easier to observe various aspects and how they interact with one another.
6 Best Data Visualization Software for Your Business
Data visualization tools offer a simple approach to spotting and comprehending trends, outliers, and patterns in data by utilizing visual components like charts, graphs, and maps.
Data visualization tools and technologies are crucial to analyzing vast volumes of data and making data-driven decisions in the world of big data.
This article is to help readers find the finest data visualization tools for their needs as an organization.
It can be challenging to select the best vendor and solution; this process necessitates thorough study and frequently involves considerations outside the system’s technical capabilities.
The top providers of data visualization tools have now been gathered together for your convenience in one place, making your search a little bit easier.
These are the best data visualization software you can find out there, tailored specially for you:
It is a top-notch online mapping tool for spatial data. Possesses a variety of helpful analysis tools (e.g., geocoding).
Additionally has good data-to-data interfaces for shapefiles, CSV files, and SQL databases.
If you wish to prioritize the mapped or spatial component of your data, Carto is an excellent option.
Tableau is a distinctive data visualization firm because it places a big emphasis on community.
You can connect directly with other Tableau users to exchange advice and creative ideas. Still, you can also attend free online conferences hosted by Tableau to learn more about consumer data analytics. The platform is also free to test out.
Everyone, from data scientists to college students, can use Tableau.
Plotly is an open-source data visualization tool that fully integrates computer languages focused on analytics, such as Matlab, Python, and R, allowing for elaborate visualizations.
Plotly offers both on-premise installation and cloud deployment and is widely used for collaborative work, exchanging interactive, graphical data, and disseminating, amending, producing, and sharing such data.
Microsoft Power BI
Users can make maps, graphs, and charts using data from Microsoft Excel or other sources.
Charts can be placed in reports and web pages and altered.
Of course, Power BI’s close connection with Microsoft products is one of its best features.
As you might guess, Power BI offers one-click sharing with colleagues in Microsoft Teams and one-click connectivity with your Excel sheets.
Qlikview is an excellent tool with many features that enables you to produce more personalized data.
Analytics, business intelligence, and corporate reporting are just a few data visualization features this application may offer your company.
The capability of this program to aggregate data from all sources is one of its outstanding characteristics.
This tool allows you to integrate several pieces of data so you can view all of your data simultaneously, unlike many others that limit you to only particular data sets.
Another tool that doesn’t require any coding knowledge is this one. Although Datawrapper is a data visualization tool designed for publications and journalists, your company can still gain much from using it.
Its user-friendly interface makes it simple to upload your data and create a chart. You can also use this tool to customize your data collection for unique layouts.
Tables, graphs, and pie charts help inform business choices. However, this is only one component of a truly data-led growth challenge. What truly integrates data into the workflow at your firm is centralizing your valuable customer data in your data warehouse, modeling it, and then pushing it out into your data visualization tool.
The tools in this list are all excellent for a wide range of application situations.
Choose carefully. Remember that simple charts and graphs can still be created using Google Sheets and Microsoft Excel, so be sure you need a tool before getting it.