In layman’s terms, data visualisation is the simplified presentation of data so that numbers and stats can be understood to find answers and patterns.
Until the 17th century, data visualisation was only limited to maps. Things started to change in 1644 when an astronomer called Micheal Florent Van Langren provided information as a linear graph. There has been no looking back since.
90% of the information transmitted to the brain is in the form of visuals. Interestingly, human brains process visuals 60,000 times faster than they do text.
But how do you ensure that the human brain gets the right visuals to understand the data?
You use data visualisation as it plays a key role in processing information!
What is Data Visualisation?
Data visualisation is the visual representation of raw data in forms like graphs, charts, graphical figures and bars. A combination of multiple visualisations and bits of information are often referred to as infographics.
With the rise of big data, which are large and complex data sets, it is important to use data visualisation tools as a medium to understand them.
As per IDC reports, the big data market was estimated at $169 billion in 2018 and is expected to grow to $274 billion by 2022, at a CAGR of 13%. Staggering, isn’t it?
It doesn’t matter whether you are an entrepreneur, a corporate employee, or a start-up enthusiast, one of the most important things for you right now is data. It holds significant value in thoughtful and informed decision making.
What is a Data Visualisation Platform?
Data visualisation tools help to break complex and large data sets into simple comprehensible patterns to help you make decisions. Easy comprehension also means that you don’t need to be an IT expert to make sense out of it.
A data visualisation platform or software uses a combination of design, storytelling, shareability and data to make it useful for informed decision making. It converts quantitative data into visual charts, usually fetched using a dashboard. The software is integrated with a backend system that houses the data. The software captures and analyses data to show key performance statistics.
Key Features of a Data Visualisation Platform
Data visualisation tools play an important part in growing a business. Good software should be able to fetch data from multiple sources and be able to analyse them by finding a correlation between the data sets.
Some of the key features a good data visualisation platform should have are:
Customisable Dashboard: A customisable dashboard is where the user can punch in a few commands and fetch data from multiple sets like Google, social media, and open-source third-party data platforms and see the results in a visual format. A good dashboard should be easy to use, it should also be able to show clear and concise data as requested by the user.
Embeddable Software: Software should be able to integrate visual reports into any third-party application that you use in your workspace. It is important for multiple teams to work in tandem to achieve results, and a data visualisation platform should be able to embed easily. The quality of the visual report should stay intact while being transferred from the dashboard to another application.
Interactive Data: Data analysts collate data from various sources and combine the data sets to derive a pattern. The software should be efficient and be able to interact with multiple platforms and present the information in different formats. It should also be able to customise industry-specific KPIs in order to find insights.
AI Integration: Artificial intelligence and machine learning are hot topics in the tech industry right now. Every other business is trying to automate redundant tasks and increase efficiency. Your visualisation tool should be able to integrate with multiple AI platforms via SDKs and APIs. Machine learning has been a game-changer in data analytics and is here to stay. So, look for AI integration capability in your software.
Geotagging: It is a feature that allows businesses to keep a track of key metrics if the geographical location is important. The ability to layer sets of data chronologically and spatially is important for businesses that need to track location-based KPIs. Simply put, geotagging is the feature that allows you to track your Uber, your pizza, and your Amazon shipment.
Data Collection: Sometimes data comes from a single source, while at other times it comes from multiple sources. A good data visualisation platform helps in collecting all the data from different sources, filtering it and then displaying it. Your visualisation software should be able to aggregate data or break it into smaller pieces.
6 Benefits Of Custom Data Visualisation Platform Development
If you are just starting up with a team of one or two, you may be able to rely on third-party plug-and-play software to cover your data visualisation needs. But we recommend that you have your own platform if you want to scale.
Here are the six benefits of bespoke data visualisation platform development.
Tailor-made reports: The use of a data visualisation platform enables you to take control of the metrics that you need. The software optimises and instantly retrieves data in custom-made, preconfigured visual formats. It further helps in cutting man-hours and saving costs, while reducing time-to-market with quick decision making.
Error flagging: A customised platform helps in flagging inaccuracy and sending real-time alerts to notify the user of important changes in patterns. This helps the business to act fast to rectify the errors and reduce production delays.
Promotes storytelling: Storytelling is a crucial tool to introduce potential/current customers to your offerings. Storytelling enables you to create easy narratives with the help of visual graphics, which further helps in developing insights. Storytelling is the most compelling way to convince potential customers to buy your products or services. Visuals are presented in the most meaningful way to convey the message.
Access real-time information: A customised data visualisation platform is more robust and hence has the ability to fetch large data sets from multiple sources or access free real-time data sources. Real-time information access also enables the business to make decisions faster and be able to produce patterns within short timelines.
Boost revenue: Custom software enables businesses to dig deep into the past and current data to prepare predictive sales analysis. This analysis further pushes the decision-makers to formulate solid sales and marketing strategies to boost revenue. Business intelligence coupled with data visualisation tools offers a payback of $13.01 for every dollar spent.
Spot patterns: Data visualisation enables businesses to spot and identify emerging trends. These trends further help in making quick decisions in shorter time spans to respond to the changing business environment.
Done right, data visualisation capabilities are insightful, accurate, and boost revenue.
Bespoke Data Visualisation Platform Development For Your Business By Laracle
Laracle works for the success of our customers. Our expertise lies in providing custom made solutions for our clients and assisting them technologically to track business-driven KPIs.
Every platform is built with a focus on user experience and growth. The five-step approach we take is outlined below.
Understanding your business model: Every client is different for us. They have different products, unique business goals, unique revenue models and different target markets. Our experts work with you to get a better understanding of this before we begin work. It helps us to identify what should be included when designing the dashboard and the technology stack we’ll use.
Adherence to your design requirements: Every company has a unique design language that is directly proportional to its brand identity. Gathering information around your design language, colour palette and font styles helps us to develop a platform that seamlessly integrates with your corporate identity.
Focus on your internal user base: This is one of the most crucial things to know. The internal user base is the primary user of the software. This includes both team members who are extremely tech-savvy, and others who aren’t but who play an important part in strategising and decision making. Our aim is to make the platform equally user-friendly for everyone.
Production milestones: Measurable goals and milestones are set to track development.
This software development process is designed to include our clients every step of the way and allow them to be a part of the development process throughout.
Get In Touch Today
Data visualisation can help improve efficiency in any industry. While product/production teams can use the identified patterns to improve products and offerings, marketing teams can analyse the effectiveness of their marketing campaigns.
Data visualisation platform development enables businesses to acquire, parse and filter large amounts of data to gather refined insights to help the business perform better.
Our KPI is your success!
Reach out to us today to discuss your options.