What is data visualization?
Data visualization is the presentation of data and information in graphical format.
Elements like maps, charts, graphs are used extensively for data visualization, which helps for a better understanding of trends, outliers and even patterns.
Since human eyes are familiar with different colours and patterns, data visualization, with the help of these helps to grab the human interest and focuses on the conclusion made by data visualization tools/techniques.
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Impacts of Data Visualization
- Data visualization helps decision making
- Provides clear understanding of the data
- Easier view of trends and pattern is possible
- Focus is made on what matters most
- Big data can be easily explored and analyze.
- Complex quantitative information can be simplified
Need and Importance of Data Visualization
- Data can be analyzed in better way
- Decision making process can be made faster
- Compex data can also make sense
- Market examination, Risk and reward, trends over time, correlation and relationship can be found
- Identification of factors affecting customer behavior
- Risk analysis can be made