With the amount of data being collected every day, we need different ways to represent this data in formats that can be understood. Once this data is understood, it can then be used in various ways, the most common being making data-driven decisions. The different ways of presenting this data make up what is known as data visualization.
Data Visualization: What Is It?
Data visualization is the translation of data and information into visual formats. These formats might be charts, graphs, maps or other visual formats. It is commonly used to find the relationship between different sets or types of data using these visual representations. Data visualization makes it easy for us to understand complex data because of how our brains work.
Data visualization is an important part of data analysis. It is not only helpful in scientific fields but is also important in other fields because, regardless of what industry you look at, data often needs to be presented visually to be better understood.
Why Is Data Visualization Important?
A major reason why data visualization is so important is that it helps us identify trends and patterns in the data collected in a better, more efficient way than what we would get by looking at a spreadsheet. Because data analysis is used to gain insights from the data that is collected by or presented to an analyst, the data becomes a lot more helpful when it can be presented visually.
Relationships
Data visualization can help us see relationships between different sets of data. Because of this, it can come in handy in areas where there is seemingly no relationship between different types of data collected.
Examining and Understanding the Market
Data visualization can take data from different markets and tell a marketing department which audiences to focus on and which ones to not concentrate on. In this way, The Importance of Data Visualization in Marketing is amplified because a business can take advantage of opportunities to increase market share or profits based on the insights gleaned from the use of data visualization.
Trends and Predictions
Seeing trends is an obvious use of data visualization but the result of understanding these trends is being able to make accurate predictions. By having the necessary information, understanding the past and present as well as predicting the future, businesses can steer in the right direction by making the best decisions based on what they predict will happen in the future.
It Supports Decision Making
Business leaders should never make decisions in a vacuum. Instead, all of their decisions should be based on tangible data and the insights that come from its analysis. Data visualization can help support and enhance the decision-making process, especially when the data and the visualizations that come from it are both unbiased.
Data visualization is extremely powerful if it is used in the right way. Although different people will use data visualization differently, they all stand to reap the benefits of better decision-making, predictions and market understanding.
