Businesses that embrace visual analytics better understand the data and KPIs can accelerate business performance and create value. A picture speaks a thousand words and so does visual analytics communicating thousands of complex data points. Visual analytics is one of the methods armed with meaningful analytics in helping CX business leaders to uncover better insights from complex problems. Businesses today are looking more at innovative techniques that will help them in drawing attention towards important messages and help them make much more informed business decisions to improve the bottom line revenue by adjusting pricing, product costs, and downsizing unprofitable products or services. Simplifying the otherwise complicated data values are visual analytics, making it easier to understand the significant messages and data that would have been complex to understand without technical expertise and experience.
What is the need for Visual Analytics?
Today’s new age digital era is full of data and it is exponentially growing. Data is also getting generated and captured like never before. With the increase in competition among businesses, using data for better decision making is perhaps the only differentiator among other things to stand ahead of the curve. Today, this very need has prompted various businesses and business owners to take a look at and adopt visually based data analysis that can help in making sense out of the massive data available.
Top companies that have adopted Visual Analytics
Visual Analytics has been adopted by world’s leading companies, from the largest and most innovative businesses – Apple, Microsoft, Proctor & Gamble, Google, Amazon, – to basically the one-person consulting businesses, visual analytics tools are adopted by many. The very advantage of it being a cost-effective implementation has many businesses adopting it to maintain their data sets. Though visual analytics is very much advantageous to the businesses it is still underutilized. And as per the research firm, Gartner, though it is the top priority for many CIOs, there are 91% of organizations worldwide that have not yet reached a “transformational” level of maturity in data analytics.
Here are six ways that integrating visual analytics will benefit your business
Help make better decisions and reach your business goals
For making the best decisions for your business or enterprise, understanding and interpreting the data has a paramount role to play. Visual analytics is quite advantageous in this aspect as it helps in empowering your teams at all levels to make better decisions that are backed by better data. It helps in clearing all the clutter and helps you in focusing on important things that lead to achieving your business goals.
Helping in planning ahead
Visual analytics does not limit at only analyzing past consumer behavior but the biggest advantage with it is that it helps you look at the future. It helps enterprises in predicting the very success of a particular campaign and gives you insight into customers’ reactions. With the help of visual analytics, businesses can also make out the common patterns in the consumer behavior and also it helps in testing intended actions and can predict the reaction before any campaign is launched.
Providing detailed and valuable customer profiles
Today, there are a huge number and types of media platforms which have increased the various channels of interaction between consumers and companies. Though the numerous channels are quite encouraging, providing unique opportunities for engagement with consumers, it also proves to be a challenge. Creating genuine buyer profiles is quite important as it helps companies to identify and also connect with different customers – from the most responsive to the more casual. This is where visual analytics helps in – it helps in developing these profiles with great accuracy and exactness. Once this is done, it helps in the preciseness for the marketers to share appropriate information and adverts on the right channel.
Consistent and accurate data for best results
Accurate data is what the best of visual data analysis is relied upon. It also is dependent upon the implementation of numerous best practices, among others, it also includes right tracking elements integrated into a company’s URLs. This is to ensure that each and every campaign that an enterprise run is linked to the leads and followers it generates, thus providing the result of exclusive marketing activities. This further helps in increasing the reliability and accuracy of targeting strategies.
Helps in staying ahead of the competition
Visual analytics also helps in understanding and revealing different trends in data which otherwise could be missed or misinterpreted. And it becomes much easier to absorb the different data with the help of visualizations and it makes a lot of sense when it is provided in a simpler form. For any enterprise to make calculated and informed decisions, it’s important for identifying trends and also the correlations between the data sets. Thus visual analytics is of great help to run your enterprise in a smooth manner and also helping in staying ahead of the competition.
Easier real-time updates
With real-time visual analytics, it is easier to know the status of the KPIs in real time for your business. Visual analytics also has the advantage to provide you an instant feedback so that you don’t have to wait for the otherwise quarterly or half-yearly updates to make decisions dependent on data. And the best part of it is that you can solve your problems instantly and proactively even before it arises.
To conclude, enterprises can exploit its data through visual analytics and analyze in a well-formatted manner so that informed and crucial business decisions are taken. This can further help businesses and C-Suite leaders to be ahead of the competition rather than being left behind. ACI’s unique technology will help you to freely explore data, without completely depending on various tools or extensive IT assistance. With the help of ACI Analytics, a huge amount of data can be analyzed at unprecedented speed and its Single-Stack architecture helps you deal with difficult data (database, visualization tools).