Getting the best results from your data isn't possible if you don't take the time to understand it. Infographics that allow you to visualize and interact with your data is the fastest and easiest way to both summarize and examine it. Visualization tools represent a better way to look at data.
Understanding Your Data
The more succinctly your analytics platform presents your company data, the better your team is able to comprehend the nature of the problem and formulate a solution. A deeper understanding of the data that's been accumulated provides greater accuracy of results and can suggest new methods for discovering further insights.
Visualizing Your Data
The fastest way for anyone to understand information is to visualize it as pictorial elements. Creating charts, plots, and graphs from raw data makes it much faster and easier to communicate your findings. Plotting the spread of data attributes helps to spot patterns and identify outliers.
Data that seems strange can indicate a need for further investigation or new data transformations. Plots show the relationships among data elements, allowing you to quickly see what's redundant, see how difficult or accurate forecasts would be, and see the validity of the sampling methods involved.
Monitoring processes in near real-time through accessible data visualizations can help workers spot negative trends before they grow into major problems. With millions of production or sales transactions being captured, you need an effective way to track changes over time so that potential issues in productivity or revenue are immediately recognizable.
Automated big data visualization tools provide the tracking system your company needs to provide early warnings on downward trends or sudden drops in quality or profitability. The data software evaluates thousands or millions of new and old records on a regular basis to aggregate results and can be set up to provide flags if numbers drop below a certain threshold or fall outside established ranges.
Profit margins and return on investment can be difficult or meaningless if you have no ability to measure variations or recognize pending disasters. While you can't always avoid negatives, your ROI for big data visualizations is still maximized if you can maintain higher levels of performance and better serve your customers.
In order to deliver customers the products and services they want, you have to understand their buying behavior. The customer journey is not just about marketing and sales, but about order fulfillment, delivery, and customer service follow-up. Tracking customer feedback on how well their expectations are met improves customer retention and repeat sales. Bad service turns them away.
Recommendations and shares on social media and review sites help to increase a positive brand awareness and drive market penetration. This is made easier and more responsive through big data visualization. Familiarity with customer habits lets you discover the best marketing channels and provide the right configuration of price, product, and services to meet or exceed customer expectations.
Improving Partner Experiences
Analysis of logistics data can help you to maximize the performance and value of your supply chain. Big data visualization can give you instant transparency on shipping times, inventory levels, the latest raw material costs, and fulfillment efficiency. You can minimize inventory investment and lead times while optimizing performance and cost for each vendor, shipper, vendor type, or the supply chain as a whole.
Accurate data on logistics helps you to monitor and improve these essential business relationships and ensure partners live up to their contractual promises.
Perspectives and Culture
No company can just stumble upon success with big data visualization tools. Instead, they adopted some good habits and made them part of their data and work flows, and thus integral to the company culture.
It starts with the realization that your company needs something more sophisticated than spreadsheets and scattered databases. Collected data must be centralized and organized to impact enterprise decisions.
You must take the time establish which information is necessary to tackle the problem at hand and focus on producing measured, accurate conclusions that can be shared and acted upon.
Your company also needs to understand their own infrastructure and processes. This will suggest which platform will best serve common interests when selecting big data visualization tools.
Small to medium businesses can be encouraged that big data visualization can provide them with most of the advantages that large corporations have been exploiting for years now. Generally, this can be done with more speed and greater ROI than ever before.