By Kelcie McKenney
Every company has a wealth of information hidden away in their numbers. Sales figures, customer engagement, inventory counts—they’re all pieces of the bigger picture, powerful insights that can bring to light answers that help your business succeed.
We’ve all heard the saying “a picture is worth a thousand words,” and for business it is just as true. When facts and figures are swimming in spreadsheets or disconnected across a number of platforms, insights are lost in the process of trying to find them. The brain doesn’t work just looking at a table of numbers, instead it needs visualized graphs and charts, with patterns and trends floating directly to the surface.
Data visualization can turn any business into an informed success, and all you need is a way to understand the information you already have.
Pick up on trends
Even small changes in your numbers can prove vital information. When your information is presented visually, those minute details become immediately clear—giving you powerful information about your facts and figures. Strong data visualization can reveal underlying patterns, relationships between figures or previously unknown trends—information you wouldn’t have a clue about without proper visibility.
Make informed decisions
When you actually understand the trends of your business, making tough decisions about your company becomes infinitely easier. You don’t have to stress about what the right answer is, instead you actually understand the background of your business—including what your customers want, where your sales are coming from and what has worked and hasn’t worked during your run as a company. You have a decision to make and you need to be informed, and more often than not something hangs in the balance—like a customer, product or ultimately your profit. Information is vital for business survival, and with data visualization that information becomes understandable and accessible.
Learn information you never knew you needed
When it comes to a spreadsheet, you can’t fully see what the numbers are trying to tell you when they’re just sitting in cells. But a proper graph can show you every piece of the puzzle, including previously unnoticed information. Especially in large data sets, we commonly miss minute details, but in a graph those trends are exposed—giving powerful information that you never knew you needed. Suddenly with data visualization you can identify areas in your business that need attention or improvement, and turn your focus to problem solving or implementation. Without that clear data visualization, you never would have realized that key factor.
Connect your team members
Not only does data visualization give business leaders and entrepreneurs insight into the businesses they’ve grown and invested in, but it also helps the entire team to get on the same page. Everyone can understand numbers and trends when it is effectively shown in a graph or chart meant to explain data clearly. And when you can share those insights with team members, everyone can recognize the strengths and weaknesses of the company they work for. With visualization you can understand what products to place where, predict sales volumes and incoming revenue and directly communicate that story to others.
Help your customers, too
Not only does visualization help you with your business, but ultimately it helps your customers, too—in more ways than one. To start, it gives you the insights needed to improve their experiences. It can clarify what factors influence customer behavior and draw attention to things lacking in your existing set-up. Suddenly you can impact the way your customers view and interact with your business, just by understanding the numbers. Along with that, proper visualization can help your customers make decisions too. When customers are trying to decide whether to go with your business or a competitor, data visualization can help them. Just like you, they recognize graphs and visual elements better than numbers alone. You can use the power of visualization to enrich customer knowledge and teach them about the benefits of your business. The opportunities are endless.
Want to learn more about how data visualization can help business growth? Charts and graphs can turn your numbers into insights.