The processing of information by the human brain
There is a popular saying that a picture is worth more than a thousand words - "A photograph, artwork, drawing or graphics can often demonstrate an idea at a glance, much faster than a story can explain things. A photograph or artwork can represent an emotion, allowing the viewer to perceive the essence of the story without a word being written or spoken." This adage is still very relevant today and for many years to come. The human brain is naturally programmed to decode information or data represented graphically or pictorially more quickly and easily. The human brain may be an extraordinary machine, but it is only capable of processing one value at a time.
The brain is generally much better able to recognize and interpret data features and patterns when they are presented in a well-executed visual form rather than in a table.
The DataViz What and why?
In today's business environment, organizations generate huge amounts of data (big data) on a daily basis. Most of the data generated comes from three main sources:
- Transactional data (daily online/offline transactions).
- Social networks (tweets, likes, videos, etc.).
- Machine data (industrial equipment, sensors installed in machines, etc.)
While it's generally accepted that big data can provide a competitive advantage, those who partner with sophisticated third-party providers have a much better chance of gaining high-quality, affordable insight. The era of big data is well and truly upon us, and the question is no longer whether companies should engage in big data, but how? - The real business value comes from the ability to combine this data (whether big or small) in a way that generates insights, decisions and actions.
Data visualization is one of the main enablers used by data-driven organizations to facilitate their decision making. It is the presentation of data in graphical form. It transforms data sets, large and small, into visual elements that are easier to understand and process by the human brain. Data visualization is the smartest way to provide a detailed picture of any complex information and gain valuable insights.
We have seen several upgrades and changes in visualization tools and techniques, which have improved the efficiency and practicality of analysis and decision making. Based on future trends in data visualization, we believe that data visualization is a promising field for many years to come. With the development of technology, analysts can now easily present data with sophisticated BI tools.
Today's data visualization tools are good enough to help you refine that data, analyze it for useful insights, and interact with the data to get answers to your questions; the future of dataviz has much more to offer and is even more promising. According to Gardner in 2021, Microsoft Power BI, Tableau software and Qlik are the market leaders.
Visual analysis and exploitation techniques are taking on an entirely new form. According to studies, more than 70% of the information the human brain captures comes from visuals, and intelligently designed infographics are 30% more effective than plain text. These statistics show how data visualization can help businesses gain new insights in a data-driven future.
Invest in Dataviz Is it worth it?
- Nucleus Research reveals that analytics in general offers a $13.01 return on investment for every dollar spent.
- Bain & Company says companies with advanced analytics capabilities are 5 times more likely to make decisions before their competitors.
- According to the American Management Association,, organizations can reduce time spent in business meetings by 24% using dataviz.
- According to Tableau Software and the Aberdeen Group, managers who have analytics and visual exploration tools are 28% more likely to get timely information than those who rely on managed reports. The report further reveals that 48% of these managers could get insights without the help of IT.
Through data mining and dataviz, organizations are able to recognize areas of their business that need immediate attention, discover information that influences user behavior, and optimize their operations, functions and processes. It is also possible to anticipate anomalies and analyze the best possible path to remedy them, and most importantly, help organizations maximize their profits.
A few words from our experts on Dataviz:
"Data visualization is a formidable tool for democratizing access to data. In addition to the visual impact or the degree of synthesis of a situation that a representation or a dashboard can produce, the associated self-service functionalities allow end users to freely explore the data. However, this access must be controlled and be part of a governance process involving not only the key users but also the IT department, which remains the guarantor of data quality.
Régis Ogier, Project Leader & Manager
« Today, data visualization meets many information, analysis and decision-making challenges. Integrating a data visualization process into the marketing and sales process can significantly increase strategic and operational performance, whether in terms of the relevance of decision making or in terms of a detailed understanding of the data in the environment. »
Henri Favier, Marketing and Sales Director
« Dataviz is a very good communication tool allowing to transform raw data into very visual representations in order to facilitate the analysis and the understanding. »
Céline Chartier, Project Manager & Manager
"Today's winning organizations are using data mining and dataviz as a catalyst to make smarter business and managerial decisions. This puts them far ahead of their competitors."
Elvis Odiase, Dataviz Consultant
With more data available across various structures and platforms, the difficulty of visualizing it can intensify. These emerging trends show how data visualization is rapidly developing to meet the ever-increasing demands of operations and data. Extracting knowledge from data is undoubtedly the key feature of data visualization and can be enhanced by turning to emerging technologies. The future of data visualization will continue to empower analysts by providing robust and reliable ways for business decision makers to make actionable and profitable decisions for their businesses.
Elvis ODIASE, Dataviz Consultant @ INFERENSIA
