It’s become basic knowledge that humans are capable of registering information through visuals quicker than we can comprehend text. In fact, studies prove that we process graphics 60,000 times faster than the written word! Given this visual literacy statistic, as well as the progress of new technological capabilities within Business Intelligence, it’s easy to understand the significance of utilizing Data Visualization within your organization.
One of the forefront benefits of adopting Visual Analytics is the ability to comprehend data in a fraction of the time. With this comes the capacity to make faster, more accurate decisions with otherwise complex information. A company’s time spent on analysis and decision making is substantially cut down, resulting in higher efficiencies taking real action. As explained in the TDWI Research, Visual Reporting and Analysis:
“Data visualization significantly improves business insights and user productivity (that is, accelerates time to insight) and increases user adoption of BI tools. These benefits help explain the growing popularity of data visualization in corporate environments.”
Beyond improving decision-making time, visual analysis provides a more accurate reading of the data. The deeper the data, the better the visualization becomes. In the end, this equates to more profitable decisions for the business. When considering the user experience this provides for consumers, many traditional, static dashboards simply lack the depth needed for successful interactions. Brands facing a continuous cycle of questions and changes are expected to provide insightful and iterative answers
One company doing an exceptional job taking advantage of visual analytics is the American Red Cross. Transitioning into this new interactive stage helped the brand by creating a positive experience among their community of users. Utilizing the tools of SAP with BusinessObjects, Lumira is a self-service data visualization easy enough for anyone to use. Other platforms comparable to SAP’s software include SAS, which enables you to uncover hidden opportunities deep in your data, Clearstory, which shows 80% faster insights than lengthy, traditional data wrangling, or Clik, which lets you see the whole story that lives within your data.
If your company is drowning in a sea of data without the clear direction a visual analysis could provide, join us at the BI & Analytics Conference to learn about even more tools aimed at transforming your data into insightful pathways.