There are two sides to every line of work – how the work is done and how the work is presented. When you read this content, you see well-constructed lines and paragraphs which come one after the other in coherence.
However, the actual process of writing this content is much rougher and involves the writer thinking for several minutes before writing each line. This struggle to write cannot be reflected in the content itself.
The same is true for a field like business analytics. Analysts work with numbers and spot important trends and patterns. However, when presenting their findings, they shouldn’t show large data sets to executives who are not used to dealing with numbers on a daily basis. Instead, analysts have to present their findings in the best way possible.
In this article, we discuss how data visualization can be used in business analytics.
Data Visualization
Data visualization is a graphical presentation of a given set of data. There are, of course, a number of ways data can be presented. Graphs, histograms, pie charts, and even detailed infographics are ways to visualize data.
The question is what type of data can be presented through interactive data visualization methods. Technically, all manner of data can be presented in a visual medium. However analysts tend to present only few types of data in a visual form.
The first type of data to be presented in a visual medium is extrapolation. Extrapolation is usually done when analysts are making a prediction. Since this is a crucial part of the process, it is wise to highlight this with appropriate graphical presentation.
Other types of statistical predictions and modelling outputs can also be presented in a visual medium.
In Conclusion
Business analysts are trained to not fear large data sets. Numbers are the currency of business analytics. Most top business analysts are often those who have genuine interest in mathematics and analytics. However, not all business execs share the same fearlessness of numbers that analysts usually have.
When presenting reports, business analysts cannot rely on pure numbers to make execs understand their work. They need to come up with actual data visualization techniques which help a common executive the point business analysts are trying to make. In this article, we discuss the importance of data visualization in business analytics.
About the Author
Ankit Kumar is a renowned writer and blogger. His interests include Marketing, Business Analytics, and Development. His blogs regularly feature in big online publications.