Having business intelligence solutions in place can help improve the operation of a company, and data visualisation allows you to take advantage of this gathered information. Extracting specific bits of information for a large pool of raw data is only useful if you can then analyze it and put it into the right context. Putting big data into a visual context can make it easier to understand and interpret the information, so companies can put it to good use to improve their business whether they're examining financial data or marketing strategies.
Need for clearer data visualisation will grow with more big data
As companies compile more information about the various aspects of their businesses, their pool of data will grow accordingly. This can make it a challenge to sort through and understand the information. By creating visual representations of specific data sets, companies can get a better idea of the bigger picture. Mashable pointed out that data visualisation can help convey ideas by providing easily digestible insights. In order to effectively create visual data, you'll need the proper software. While there are many options, there may be new features on the horizon as well.
MIT mapping tools could change how visual data is presented
Researchers at the Massachusetts Institute of Technology's Computer Science and Artificial Intelligence Laboratory developed a set of tools called "Exhibit" that not only compile data visualisation but make it interactive. This could prove useful for online data analysis by offering more in-depth insight, such as tracking and understanding how users are interacting with various aspects of the site.
"Imagine if The New York Times was able to track how well you understood visualisation, or how you used it, rather than simply how much time you spent on it," said the study's co-author Ted Benson, an electrical engineering graduate student. "That could help them design more engaging data displays and maybe even help uncover new stories in the data you didn't know were there."
Benson and David Karger, a professor of computer science and engineering at MIT, tested out Exhibit on about 1,900 different websites, and they found that this new method of categorizing big data and creating data visualisation may be too complex for standard methods of entering information into spreadsheets. Should the data analysis tools be the wave of the future for business intelligence, they may create a need for major overhauls