As companies grow, so do the amount of data they need to store, process, keep, and sometimes present. This is when the need for data visualization comes in as one of the most powerful tools for decision-making. But How Do We Make Decisions and why data visualization is important?All in good time.
An adult person makes on average 34,000 decisions per day, including what we will eat, wear, what we’ll say, and how we’ll say that. The art of decision-making lies in forming opinions and choosing actions via mental processes that are influenced by biases, reason, emotions, and memories. Then, we outweigh the pros and cons of the choices we make and cope with the consequences. But what about data visualization?
In simple words, data visualization https://s-pro.io/data-visualization is a graphical representation of information and data by using visual elements like charts, graphs, and maps. Let’s have a look at 3 ways data visualization leads to better decision-making processes.
Facilitates understanding
Data visualization presents complex hard-to-digest data intuitively. This reduces cognitive load and increases comprehension by presenting the data in a more accessible way. Interactive visualization makes it easy for decision-makers to identify patterns, relationships, predict consequences, and make more informed decisions based on the data perceived. Furthermore, visualizing important data helps to deliver complex data to people irrespective of their level of expertise thus bridging the gap between the entire team.
Reveals insights
Displaying data may help reveal insights and trends that may go unnoticed with old-school data analysis methods. For instance, using a graph or chart may help discover or draw attention that certain factors strongly correlate – which is often harder to comprehend while overlooking raw data. In addition, interactive data visualization gives a better understanding of the effectiveness of your team, for instance, sales by period, call time per customer; or deals closed by sales reps.
Encourages data-driven decision-making
Data-driven decision-making is a process of using facts, metrics, and insights to make strategic business decisions that align with your goals, initiatives, and values. With visualization, data consultants help to explore data more deeply and from different angles. This encourages better outcomes since decision-makers rely on clearly and concisely presented data that helps them better understand the topic or deliver a fresh look.
To sum up, in today’s business world, mastering the art of decision-making is not a luxury but a necessity that can be empowered by data visualization. This simplifies complex data, reveals hidden insights, and fosters data-driven strategies, serving as a bridge between raw data and actionable insights. By leveraging the power of data visualization, businesses gain clarity, anticipate challenges, and respond with agility.
If you’re looking to leverage the power of data driven insights, S-Pro team is here to assist. Their professional team offers high-quality project management services, established processes, and advanced technologies to elevate your startup.