Data management is one of the greatest challenges facing businesses today. Many people find data-related tasks daunting, since data are time-consuming to collect, difficult to process, and even more difficult to exploit. Yet data management brings many benefits to organizations that know how to take full advantage of data visualisation!
Here’s why using data well can benefit your business.
Harnessing the Full Potential of Data
Collecting as many data as possible does not mean that you will be able to harness their full potential. In fact, (too) many companies have unstructured, scattered data, which are unusable in their actual form. But organizing and managing data is essential to ensure reliable data analysis.
The retail sector is a perfect example of an area with unstructured, scatter data. Following the advent of the Internet, sales forces have needed to reinvent themselves and diversify their offer. Physical trading has learned to coexist with online sales through all channels. Points of sale have also moved online, new uses have emerged, etc. Data sources have therefore multiplied and become more scattered than ever.
Thus, data are particularly difficult to collect, as well as exploit. How to decrypt data from different channels? How to consolidate and synthesize them? Business Int
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Through data visualization, it is now possible to generate a dynamic dashboard, offering a clear and comprehensible reading of a company’s performance indicators. This solves the issue of data collection, preparation and organization. Rather than continuing to constitute an opaque environment ignored or misunderstood by employees, data are now accessible to users from all walks of life.
Making data accessible to all
Data visualization is also a way of “popularizing” data by making it accessible to as many people as possible. This level of accessibility represents a major challenge for dataviz, since it must be able to adapt to a wide variety of needs and uses. From the office worker to the IT engineer, and even the decision-maker, everyone must be able to benefit from the data visualization tool.
However, data access is still too often restricted to specialists or high-ranking managers. But “ground” staff have a lot to gain from using data on a daily basis, which is exactly what dataviz allows. The same indicator may also be defined or interpreted differently depending on the trade or use, hence the interest in offering a customized experience based on the user’s profile.
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Furthermore, this desire to ensure greater accessibility translates into a real ability to tell stories using the data, which is known as data storytelling. Graphs, tables and other visual representations make information clearer and more memorable. But data storytelling has an extra component: narration.
The aim is to captivate the audience and make complex information understandable, even to those unfamiliar with it. Depending on the audience you are addressing, you can adapt the message to make it more powerful, that is, a coherent storyline, which is then formatted using visual and textual objects.
Save time by focusing on the essentials
Poorly presented data (or data that is not presented at all) leads to valuable time being lost. Anyone who has ever spent many long hours analyzing an Excel table is well aware of this. But with accessible and usable data, employees can finally focus on the essentials and gain in productivity while processing data.
This is one of the main advantages of dataviz, which allows users to present data in a readable and digestible form. It also ensures that employees spend more time analyzing rather than presenting data. With just a single glance, you can obtain a wealth of information, whether you want a detailed account or simply an overview of the current situation.
The ergonomic and intuitive dashboards make child’s play of data visualization. The key performance indicators (KPIs) can be viewed with just one click, from a single screen. The dashboards are also updated in real time, so you are always up to date with the latest developments.
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Constantly accessible, the data visualization tool is available on all platforms: desktop, mobile, tablet, etc. Data are always at hand, no matter the circumstances. They can also be instantly exported in any format (such as a PPT presentation).
Data visualization not only saves you time, but also money. Many companies do not present their data efficiently, often using many expensive tools to achieve a result that could easily be achieved using dataviz alone.
Through data visualization, it is possible to create ergonomic dashboards that are easily readable and available in real time. This facilitates decision-making on a daily basis, at both the strategic and operational levels, hence why data visualization is such a valuable tool for executives and managers.
When faced with a large amount of unstructured information, it is very difficult to take stock and make informed decisions. However, decision-makers need to take all available data into account in order to weigh up the pros and cons, and, in turn, guide their strategy.
A greater understanding of the data also means a greater understanding of the company and its situation at that particular time. Through visualization, managers can understand highly complex information using simple visual aids. This enables them to identify trends, understand indicators and think more effectively. In other words, visualization facilitates analysis and allows you to be proactive while staying one step ahead of the competition.
More effective exchanges and collaboration
Dashboards are not just visual aids; they are also real communication channels. They allow ideas to be shared more quickly by making information more accessible and accurate. This is an extremely important feature, which also helps ensure more informed decision-making.
With data visualization, every employee can understand the data presented to them, even the most reluctant. This new way of communicating, based on playful and interactive media, ensures greater collaboration. The various departments within the company can exchange information more efficiently, with each having to access data from other departments in an adapted form.
This more agile approach ensures that teams are better coordinated, and thus, reach a higher level of performance through a unified discourse. Messages are conveyed clearly and unambiguously, since every employee has access to the same level of information.
Executives and managers also spend less time managing teams, allowing them to focus on developing their business and on decision-making, which, in turn, leads to an overall increase in the efficiency of the company and its projects.
Better structured, more readable, and thus, more accessible data are essential to facilitate decision-making and improve communication within the company. That is why dataviz represents a valuable ally for managers, who are keen to make the best strategic choices and ensure a sustainable increase in their teams’ level of performance.
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20 January 2021