As we all become more dependent on digital technology, more and more data is being produced.

And because data translates into business information, business use cases for this resource never stop growing, data is the driving force for companies around the world.

Now, with over 2.5 quintillion bytes of data (a quintillion equals a million trillion) generated daily, the number of insights a company can produce from data-driven policies is staggering.

However, turning information into actionable strategies is another task.

This is where data visualization comes in.

Visualizing data is a way to gather and communicate facts in an easy-to-use manner.

By recognizing its role, benefits and commercial applications, the business can be enhanced for the better.

What is data visualization?

Simply it is the process of displaying information graphically.

Charts, graphs, scatter charts, heat maps, hierarchical maps, and more are all forms of visualizing data, helping business analysts interpret the meaning behind the facts.

These media that highlight the progress of change as well as market behaviors can make a huge difference in marketing and improving business operations.

Data is only good if it is understandable.

For example, if you store millions of data points related to your customers but don't have the means to visualize that data, your stored information will not be useful.

All that will happen is devouring your budget through energy consumption and security costs.

Visualizing information visually is the key to business success.

How does data visualization benefit companies?

These benefits stem from the transparency and clarity of effective data communication.

No matter how effective your data collection strategy is, you will fail to make business improvements without effective visualization.

This is because we humans are highly visual creatures, and in fact the majority of the cortex or surface of the brain (more than 50%) is dedicated to processing visual information.

This shows how much we rely on visual stimuli to make sense of the world around us.

The same is true for data.

By leveraging the natural power of visual media to generate informative insights from data, companies have the power to transform their operations for the better.

This is because of the nature of our relationship as humans to visual information.

By making the most of this relationship, communicating and implementing actionable business strategies becomes simpler and easier.

Data is only good if it is understandable, otherwise it will eat up your budget (Shutterstock)

Here are a few of the benefits that make this so:

  • Improve the absorption of knowledge

Since our brains work in favor of visual processes, we tend to retain better information presented to us visually.

In one recent study, this manifested itself in the cognitive absorption that cancer patients experienced when viewing whiteboard animations versus brochures.

Animations increased the ability of these patients to absorb knowledge because they supplemented education with presentable detail.

The idea itself, applied to business information, is what data visualization is all about.

We process and ingest visual data faster, so presenting business information to employees and customers in this way enhances knowledge retention and success.

Conversely, productivity and customer retention can see a boost as well.

  • Enhance communication and participation

Visual visualization enhances the workplace's ability to communicate, understand, and interact with data.

For example, a study that used different means of communication found that 67% of workers performed better when communicating using visuals rather than text alone.

  • Uncover business insights

Another essential benefit of visualizing data is its role in helping us change our perspective.

It takes approaching any situation from different angles to create a more complete picture.

However, data can take all kinds of shapes from qualitative to quantitative, and the result can be chaotic when you look at it.

With visuals, communications jump more clearly off the screen or page, alerting professionals to actionable business strategies.

The visual elements can even be automated to some extent with the appropriate software.

Open source databases and AI analytics make this possible, bringing ease and convenience to even the most challenging data sets.

However, visually maximizing the potential of your data visualizations still requires some important communication practices.

Enhancing business opportunities through data visualization should be the ultimate goal of all data analysis efforts (Shutterstock)

  • Boost your business opportunities with visual data

Enhancing business opportunities through data visualization should be the ultimate goal of all your data analysis efforts.

However, getting there requires a commitment to measurable goals and high-quality communication.

To experience the full benefits of visual data, consider these tips:

  • Establish clear data-driven business goals


    Data-driven visual communication will only be useful if it aligns with business objectives.

    Setting clear goals by analyzing internal strengths, weaknesses, opportunities, and threats (including competitor data) helps you place the visual in the context of a larger narrative.

  • Tell a compelling story

    Data-driven insights rely on narrative.

    No matter what graphics you create, the story they tell is what helps you frame, develop improvement strategies, and communicate them across your team.

    The visuals as well as the narration are a recipe for improving the business in progress.

  • Securing your private data


    The integrity and authenticity of your data also affect the capabilities of your own visuals.

    Create greater control with scalable data management policies, secure environments, and protected API entry/exit procedures.