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Understanding Data Analytics and Visualization and Their Benefits

We live in a tech-savvy world where data is being generated continuously. From Instagram and Twitter posts to sales figures, we are surrounded by data. In a competitive world, businesses should have a strong grasp of data. This is due to the crucial role of data in making informed decisions that can optimize business processes and financial outcomes. And, while data is useful, it can be challenging to comprehend. This is where data analytics and visualization come in place.

What are data analytics and visualization?

Data Analytics

It refers to the process of analyzing data to help organizations make informed decisions. It involves structuring unorganized data in order to make predictions, draw conclusions, and make informed decisions.

Data Visualization

It refers to the process of representing data visually to communicate information more clearly and efficiently. In data visualization, data is represented in a graphical or pictorial format. By giving a visual context to data, in the form of charts, graphs, maps, etc., it gives better clarity about the data. The goal of data visualization in business analytics is to make complex information more accessible and understandable. The data extracted from data analytics visualization can be used for a variety of purposes, from conducting research to business analytics.

Major benefits of data visualization and visual analytics

Quicker decision making

Human beings process visuals more efficiently than arduous statistical tables or documentation. If data convey things in an effective manner, decision-makers can act on new data insights quickly. This trait of data visualization analytics speeds up the decision-making process. It also contributes to the spiked growth of the company.

Identify anomalies

Data visualization analytics helps identify anomalies in large data sets. It may be a value that is significantly different from the others. Anomalies can be identified using data analytics visualization to determine why they differ from the other values in the data set. With this, businesses can identify errors and inaccuracies in data quickly.

Discover the trends over time

One of the most important benefits of data analytics visualization is discovering trends over time. The trends from data visualization analytics provide valuable information about the past and present. Companies can use trends to assess where they were in the past and where they can truly be in the future.

Effectively communicate information to others

Data visualization is quite advantageous as it can help users communicate their findings to others more effectively. This is particularly important if the study results are being conveyed to people who are not acquainted with data analytics and visualization.

Different types of techniques used for data visualization and visual analytics

There are different types of data visualization techniques used for different purposes. The most commonly used techniques are:

  • Pie chart
  • Bar graph
  • Heat map
  • Histogram 
  • Info-graphics
  • Waterfall chart

The human brain is not designed to handle huge volumes of raw and unorganized data. This is why data visualization and visual analytics are needed to convert unorganized data into something usable and easy to understand. At Princeton IT Services, we understand the importance and need of data visualization in business analytics for organizations. We provide them with robust and user-friendly data visualization analytics solutions for easy data interpretation. Contact us today to learn more about how we can help your business with data analytics and visualization.