The Utility of Data Visualization in Business: A Brief Intro -Written by: Ed Carter of ablefutures.org
These days, there are countless tools available to business owners to help them optimize their operations. Advances in technology have revolutionized the way the world stores, processes, views and uses information. However, data visualization is one of the most significant because it’s an innovation that entrepreneurs can use to enhance their handling of data, as well as their performance in areas such as marketing. Today, Take it to the Edge Marketing shows you how.
What Is Data Visualization?
Data visualization refers to the usage of graphs, maps, charts, and other visual models to represent information and data. Examples of such visual graphics include pie charts, bar graphs, histograms, infographics, and animations. These elements allow you to gain an easily understandable snapshot or overview of vast quantities of data that would normally be difficult to detect overall patterns due to the sheer size of the datasets. Research shows that 90% of the information the brain receives is visual, meaning visual information may be easier to process.
How Does Data Visualization Impact Internal Operations?
It weaves cohesive stories that offer helpful insights and reveal hidden patterns. Through data visualization, you can identify outliers and trends, such as spikes or drops in sales, and whether those correspond to a certain factor or change. For instance, if you see that customers gradually stopped buying a specific type of coffee after you switched from almond milk to regular milk, then you can make an assumption that the switch is the cause and make adjustments accordingly.
You can also see where you can cut unnecessary costs and what changes would improve overall efficiency. Your employees can benefit as well since data visualization allows you to present goals, gains, and customer behavior in an easily comprehensible format. Both you and your workers are also able to make better decisions based on the graphics.
What Role Does Data Visualization Play in Marketing?
Marketing is an essential part of any enterprise because it spreads awareness and helps you develop your brand in the public eye. This includes both digital methods such as maintaining a website or social media accounts and traditional ones such as billboards and brochures.
The human brain tends to process images easier than text. Breaking up long chunks of words with pictures or videos makes articles more likely to be read and remembered. A well-designed visual element is more likely to catch a potential customer's or investor's attention.
For example, strategically interspersing eye-catching or emotional photos in a flyer you are distributing to potential customers to drum up business is one way to connect with them. If you want to emphasize statistics, graphs and charts make them easier for individuals to absorb and understand. There are tools available that can design custom flyers quickly, giving you access to numerous professionally designed templates that you can customize by adding graphics, your own photographs, and text, as well as altering the font and colors. Microsoft Word is one application that comes with built-in flyer templates.
What Data Visualization Tools Can You Use?
There are many data visualization tools available to you. There are free programming languages like R and Python. Other options include Tableau, Microsoft Suite, and Google Charts. It is important to pick the best one for your needs; each tool and graphic has its own advantages and disadvantages.
Incorporating data visualization into your business can aid you and your employees. It can help you improve internal operations, including your marketing strategy, overall performance, and decision-making.
Take it to the Edge Marketing can help you answer all these marketing questions and more. Discover how marketing is the very foundation of your business. Schedule a free consultation today.