The Case for Data Visualization Through 6 Stats
Companies across all industries today are collecting more data as a means of informing their decision-making and iterating on past experiences. However, things like poor data quality, collecting too much data, and not allowing all levels of the organization to access that data holds businesses back from using data to achieve their goals.
As powerful as data can be, it’s only as good as its quality and how that quality is presented. These caveats have made the case for more interactive methods of analyzing data, such as data visualization.
What Is Data Visualization?
Data visualization involves the method of placing data in a visual format so users can better digest the information. With data visualization, data consumers can detect patterns, correlations and other trends that would be harder to glean from text-based data systems.
For example, consider these visual data sets on American political views or the shifting demographics over the years by Pew Research Center.
Now imagine sifting through these data sets via text. Doesn’t exactly jump out at you, does it?
6 Compelling Stats for Data Visualization
- The majority of communication is conveyed through vocal elements, facial expressions, gestures, and posture—meaning it’s nonverbal, even if words accompany those visuals.
- The human brain can process images as fast as 13 milliseconds.
- Managers in companies with visual data discovery tools are 28 percent more likely to find timely information than managers who only use managed reporting and dashboards.
- The same study found that 48 percent of this same group of managers were able to find the data they needed without IT assistance.
- Companies with advanced analytics are twice as likely to use data frequently when making decisions.
- Those same companies were five times as likely to make decisions faster than market peers.
Why Your Company Needs Real-Time Data Visualization
For companies to be truly data-driven, it’s essential to put data behind everyday decisions. When all levels of the company are turning to data to evaluate ideas and identify past mistakes, everybody wins. Interactive data visualization tools save time, reduce risk of data errors, highlight suspicious activity, and give your organization a clear overall view of what’s happening within a company.
ThoughtSpot takes the concept of interactive data visualization to the next level by incorporating instant charts and dashboards with relational search to deliver speedy insights at a scalable level.
Learn how ThoughtSpot makes it easier for your business to find data anomalies, segment data and identify the positive indicators to drive your business forward. Sign-up for your demo today.