There are so many business intelligence visualization tools available in this day and age. Tableau, Power BI, Qlik, and AIR Intel are just a few. These tools will help the users make better and more informed decisions around their business by depicting the data in a graph or chart representation. There are many benefits in using a business intelligence visualization tool and we are going to touch on a few:
• Easier to understand and quick to action: The human brain tends to process visual information far more easier than written information. Use of a chart and/or graph to summarize complex data ensures faster comprehension of relationships than cluttered reports or spreadsheets.
• Interact with data: The greatest benefit of data visualization in my opinion is that it exposes changes in a timely manner. But unlike static charts, interactive data visualizations encourage users to explore and even manipulate the data to uncover other factors. Drilling into a chart to see the underlying data which could be yet another chart or a table/grid of the raw data can assist the user in seeing the data from the highest level to the lowest. For example, we have a pie chart depicting counts of sales calls by region within a specific time frame. You can then click on a region and then see a bar chart, each one of those bars represents a count of the amount of calls each sales person did in that specific region. Then that same user can click on a specific salespersons bar from within the chart to see all the details behind the calls: Who they called, when they called, how long the call was, comments from the call, etc.. This type of functionality is allowing the user to see not only how the sales people are doing overall but allowing you to see who are the best sales people making calls and why are they successful. Are all the successful calls made within a certain time frame? The visualization tool allows you to convey a story easier.
• Creation of new discussions: Another advantage to data visualization is that it provides a ready means to tell stories from the data. Heat maps can show the development of product performance over time in multiple geographic areas, making it easier to see those products that are performing very well or those that are underperforming. With this functionality built into most visualizations tools users (Executives, managers, and employees) can drill down into specific locations to see what’s what is working and what is not and pivot if needed.
• Communicate more effectively: Gone should be the days where you read an eight to ten page document to decipher the findings of what occurred in your business by the month and/or quarter. Now you can supply reports that can decipher complex data into simple outputs and have them automatically delivered to the people that should be reviewing the data. Not only do visualization tools allow you to communicate more effectively but I would also state that the reports are automatically delivered in a more timely manner.
• Absorb more information easily: Data visualization enables users to view and understand vast amounts of information regarding operational and business conditions. It allows decision makers to see connections between multi-dimensional data sets and provides new ways to interpret data through heat maps, bar charts, line charts, bubble charts, and other rich graphical representations. Businesses that use visual data analytics are more likely to find the information they are looking for and sooner than other companies.
Above are just a few of the benefits of data visualization tools and I am sure you can think of several more if you have played around or have used visualization tools.