In this data-driven environment, organizations collect raw data sets from company website metrics, social media channels, corporate repositories, and various other sources. However, the raw data sets are of no use unless it provides something valuable. Data visualization is one such process that helps in converting raw data sets into valuable information. As the data are represented visually, the audience can get the information more easily and quickly in comparison to text.
However, the management team may not have access to the right tools always in order to convey the right meaning of the data sets. This may make them miss insights valuable to their business. But when you have knowledge about visualization types, you can pair them with the right business intelligence tool making it easier for you to represent your data sets in a meaningful manner.
Types of Visualization You Can Use
The visualization type you will use should convey your message aptly, tell a story or illustrate a trend. Using a business intelligence solution that offers the below-mentioned visualization types is beneficial to remain competitive in today’s business scenario.
• Heat Maps
Heat maps allow you to represent value, effectiveness or concentration using colours.
• Scatter Plots
Scatter plots allow you to depict the distribution of values on an X-Y graph in order to identify trends and outliers.
• Line Graphs
Line graphs can help you depict the progression/regression of a single item or more by cost, time or any other variable. Line graph is apt to visually compare the success of a new product over the old one. You can even make an assessment of the cost required to sell each product.
• Bar Charts
Using bar charts, you can not only display visual quantities but display value fluctuations, as well. It’s ideal for tracking the total number of customers and tracking revenue year over year.
• Pie Charts
Pie charts are used to represent data as parts of a whole. Limiting the number of slices to six makes a pie chart more effective. Too many thin slices on the chart make it difficult for the audience to derive the meaning.
• Geospatial Format
Generally, geospatial format offers a 3D display of variables’ placement in real-time. You can use this format to show the location of customers’ orders. The real-time assessment of data sets based on time and geography can serve your organization’s unique needs.
• Tabular Format
Using this format you can list specific information in a format similar to a spreadsheet in the rows and columns making it easier to view as well as read.
Make sure that the business intelligence solution you choose actually works for you. It should allow you to display data in various formats that are visually appealing as well as organized. The tools should help you in doing the high-performance analysis of the important data through interactive charts, maps, sliders and gauges.