Data Visualisation: Communicating Your Insights to Drive Business Decisions
Posted on Mar 08, 2023 at 10:03 PM
Business leaders and managers are responsible for making daily decisions. To empower their businesses with powerful results. And data visualisation is the standard graphical format to make better decisions.
Data visualisations are the ultimate trends that make every decision in the context of a translation of quantitative statistics and analytics.
Today, we will discuss data visualisation terms and their importance, types of data visualisations and basic categories to explore.
Definition of Data Visualisation:
Data visualisation is the process of representing business datasets with graphical visualisation. To help users achieve a fundamental understanding of the business data and principles. Moreover, guide informed decisions.
Professionals classify graphical representations of data as practical data analyses for business decision-making. Data visualisation uses visuals and patterns to make the results more interactive.
Why Is Data Visualisation Important for the Decision-Making Process?
Not only the data analysis steps are critical for improved business results. But also your key used tools and software formats to achieve data analysis. And that is what makes data visualisation more critical:
- Make Informed Decisions:
Data visualisation is the presentation that counts on visual charts and maps. Which makes every detail clear; hence, people can make more effective decisions.
- Better Insights Understanding:
It is well known those visual graphics make understanding more accessible, even when discussing complex business numbers and data.
- Track Operations Connections:
If you have a failed operation with no direct issue, it is most likely affected by other processes.
Thus, data visualisation helps you to see the connections between the processes. Moreover, how each procedure impacts the other allows you to adjust your strategy.
- Improve Communication:
Data visualisation charts and maps improve communication between departments, managers and employees and your communication with stockholders.
2 Main Categories of Data Visualisation:
Although there are different data visualisation types, we will list them next. Yet professionals categorise all these graphical types into two master categories:
1- Exploration Data Visualisation:
The most crucial data visualisation category. As it helps businesses to understand the information. And create formal visual representations of this information.
2- Explanation of Data Visualisation:
This form enables you to tell stories to your community of employees or shareholders with statistical charts, dashboards, and graphs to communicate with them.
5 Popular Types of Data Visualisation:
Attending professional data analysis courses. It will improve your skills and teach you about types of data visualisation. Yet, it would be best if you chose among them depending on your company’s fundamentals and needs:
1- 2D Area (Line Graphs):
This data visualisation type varies between simple line graphs expressing one graphical line. And between complicated line graphs showing complex statics results.
Moreover, this type is most likely used by companies. To design graphical timeline charts to provide simple and fast observation graphs.
2- Temporal Visual Charts:
This is also a 2D type that shows data visualisation for a specific time. Whether per day, month or year, providing clear metrics with distinct boundaries.
3- Bar Charts:
One of the most popular data visualisation types. That displays its graphic with bars to clarify the values of different data figures. Depending on the bar heights.
Managers use these charts when building objects and elements comparison plots.
4- Pie Charts:
Pie charts are an effective tool that visualises one value. Into percentages or proportions, with a colour and numbers chart. Moreover, this visual graph is easy to understand for all people.
5- Network Graphs:
A complicated data visualisation type. That shows connections between items and practices in your business.
Moreover, how each affects the other with positive or negative impacts.
To Sum Up,
Using data visualisation with all its practical charts, graphs, and maps. It is a cited technique to observe your business. And communicate with your employees and stockholders.
Thus, taking care of and doing your data visualisations is the right decision.
