More and more companies are going digital, embracing analytics, and leveraging their data to turn insights into higher revenues, reduced costs, and overall business growth. According to analysts, the big data analytics market is expected to reach nearly $50B by 2019.
Managing digital technologies in this new age is about more than improving process, it’s about creating unique services for competitive advantage. This is particularly vital in a changing technology landscape enabled by mobility, cloud computing, big data, intuitive analytics, social media and other digital solutions. The key for IT leaders is to figure out how to use this information to give their organization its digital edge.
Big data is generating unique opportunities for businesses to realize deeper, faster insights that can bolster decision making, enhance the customer experience, and quicken the pace of innovation. But today, most big data yields neither meaning nor value. Businesses are so overwhelmed by the amount and variety of data pouring into and through their operations that they grapple just to store the data—much less analyze, interpret, and present it in meaningful ways.
Visualization and Discovery
For assistance in this effort, organizations are increasingly turning to visualization-based data discovery tools. The tools promote self-service BI, allowing a multitude of users to easily integrate or “mash up” data from an extensive selection of sources— social media platforms, log files, videos, customer experiences and more. With BI tools, users can execute real-time, predictive analyses, and showcase the results in captivating, interactive, and easily understood visual presentations. The trend toward visualization-based data discovery tools is worth investigating by any organization that seeks to derive more value from big data. The potential business benefits are immense, and data governance best practices can be used to help ensure a safe transition.
Data visualization software can tie directly into a variety of data sets, files and spreadsheets in real-time. Then, with just a few clicks of the mouse, a user can pull data from just about anywhere and have it represented in an interactive chart, table or dashboard. And, since the software allows users to interact with the data, managers can group, analyze, organize, and summarize data with speed and efficiency.
Data visualization gives key decision makers the ability to see patterns – such as sales trends, customer buying habits, production bottlenecks – and respond accordingly.
What can Data Visualization do for my organization?
Data visualization tools can assist clinics track physician and hospital performance; post-secondary schools assess student applications; e-commerce retailers comprehend what customers are doing before they buy, and to gather and analyze hundreds and thousands of data points to identify trends; financial securities firms gather, evaluate and interpret customer trading data; and much, much more.
Data visualization software places amazing data analysis capabilities into the hands of people throughout an organization, helping personnel to easily identify issues or concerns, identify efficiencies, and capture new opportunities – irrespective of the amount of data stored.
Litcom is an official Qlik Partner. We help organizations turn a vast array of data into valuable information that drives decision-making in a corporation. Our solutions ensure that all data has clear definitions and a fully understandable presentation to users. For more information please contact us: firstname.lastname@example.org.