We all know time is a rare commodity today. And, time is what is needed in most cases to make an informed, confident business critical decision – whether as an immediate response to present market dynamics or as part of a long term-strategy objective.
Dashboards driven by the power of business intelligence tools have brought us a long way. But, have we let our comfort level with access to information make us forget to look for the “why” in what we are seeing? The intent of Data Visualization was and is to present information in a way to its viewer that will first, provide an overview of what is happening in real time, and second, uncover trends or anomalies that can guide us toward the right decision. Nothing is fool proof but there are a few criteria from Data Visualization 101 that we should remember to use as our filter for great dashboard making.
Data visualization is used as a business tool to interpret raw data, communicate strategy, monitor and manage information and make business critical decisions in real time. What a BI Dashboard should facilitate is the monitoring of key performance indicators (KPIs) via a customized interface to analyze metrics in order to facilitate management of resources and their performance.
As data visualization matures and access to information can be obtained so quickly, getting to the holy grail of actionable insights is becoming a reality. But first, let’s do a quick review of the benefits of data visualization – our cliff notes to Data Visualization 101.
Whether you are embarking on a new visualization project or revamping an existing dashboard or set of dashboards, be sure to follow these guidelines:
BI dashboards enable visualization of data. By utilizing visual data, quick analysis is possible to make business critical decisions backed by credible information. Executives who harness the power of such a business tool are definitely better equipped to drive their businesses further, faster and favorably.
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