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We’re often asked why data visualisation is important. Why would an organisation need to see what data it holds, and what can it do with this information anyway?
Data visualisation is an approach to help people understand the significance of data from unstructured sources by placing it within a visual context, such as dashboards displaying graphs and charts.
This easily accessible format enables organisations to analyse and expose patterns and correlations across the whole business – quickly and clearly. And of course, it then provides insights regarding trends, risks and costs.
Just think how much value an organisation can gain from seeing the calculated costs of storing unnecessary or duplicated files, or the power of seeing trends within their own organisational data they weren’t previously aware of.
For example, companies acting on insights into consumer behaviour, very quickly have a competitive advantage by exploring new opportunities or focusing on new markets.
Data visualisation drives decisions – when is the best time to launch a new offering, which is our most valuable age group, where do the majority of our customers live and therefore, where should we focus our efforts?
But it’s not just trends and opportunities. Data visualisation also aids the information governance process.
For example, over-retention of documents, a common issue within unstructured data sources, means that data isn’t deleted when it should be – and this can expose an organisation to financial and legal risks such as a GDPR breach. A visual representation of data very quickly exposes this risk, so organisations can very quickly alleviate it.
Data visualisation is important to everyone in an organisation, from C-Level business decision makers, I.T, to governance and compliance teams, to the marketing team to assist their go-to-market strategy. Isn’t it time you discovered your data?