The Value of Data in Business

In today’s digital age, 2.5 quintillion bytes of data is generated every day. On one hand, this statistic is exciting. Data can help businesses understand customers, optimize operations, and identify risks. Additionally, over 1,000 senior executives demonstrated that highly data-driven organizations are more likely to report significant improvements in decision-making. On the other hand, it’s daunting to comb through voluminous data without the right tools and expertise. That’s where data visualization comes in.

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What is Data Visualization?

Data visualization is the presentation of data in a pictorial or graphical format. Nowadays, it’s used to help organizations understand complex information by showing it in a visually appealing and understandable way. But the importance of data visualization can be traced throughout history. For instance, maps have been used to depict geographical information since the 6th century BCE. Today, technology has revolutionized data visualization. Computers and software have made it possible to process big data in seconds.

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The Importance of Data Visualization

• The human brain only needs 13 milliseconds to process an image. That’s 60,000 times faster than the time it takes to process written information. It’s much easier for our brains to understand charts and graphs than long spreadsheets and reports.
• Data visualization is universal. Anyone can understand visual represenations, even if they don’t have formal training in statistics and analytics.
• It speeds up the decision making process. The Wharton School of Business reported that data visualization can increase the ability to reach consensus and move towards action by 21%.
• Data visualization provides up-to-date information that can help companies identify trends and patterns about consumer behavior.
• Companies can use charts and graphs to create buyer personas. This information will provide you with a better understanding of your customers and leads.

Leverage the Surf NLP data dashboard to gain a comprehensive understanding of your data. Our dashboard is integrated with AI and supported by industry-leading data visualization capabilities. With this tool, your company can analyze audiences across numerous label categories and unlock valuable insights to drive profits. Book a meeting today to get started.