Businesses collect so much information today that they do not know what to do with it. Research shows that data is overwhelming businesses, and it might take decades for them to dig out of the data heap.
Helping companies dig out of the data heap and discover actionable insights fast is where the future of data visualization comes into the picture. In one form or another, data visualization has always been essential to a company’s growth and revenue generation. Whether it was presentations in loose-leaf binders or slide presentations, businesses have always visualized data to sell their products or services. This article will talk about the future of data visualization. However, it is more of an evolutionary tale than a story of the future.
Here are some things to watch for in the future of data visualization.
Becoming More Than a Visual Tool
Marketers always wanted data visualization to communicate a message effectively. Well, in the near future they will get their wish. Data visualization will have enhanced interaction with the user. Improved communication will create data visualizations that are agile in responding to user commands. There will be enhanced dashboards and graphic illustrations that employ the drag-and-drop user-interface. Also, look out for interactive panels that facilitate effective communications between employees, management, and clients.
These enhanced communication capabilities will usher in social elements. In other words, the improved dashboards will provide real-time data so that efficient collaboration can happen when team members are using mobile devices. This social sharing aspect will positively impact the relay of data between team members. There also will be multi-operational widgets, sparklines, and trend markers to help team members understand the data visualizations.
Data will begin to be accessible to everyone within an organization. The goal of democratizing data is to increase the potential of teams to maximize opportunities to create revenue and construct convincing, data-rich content for different segments of the market. Teams will be able to link, graph, and exchange information between desktop computers, laptops, and smartphones and tablets. You will also see that not all data visualization platforms offer all-access data. As a result, data democratization will become a vital feature of the platforms providing it.
The concept of data visualization as a form of storytelling is getting widespread recognition. Data analysts will be able to customize content that turns complex data into simple stories. Business Intelligence developers will be able to modify data links and graphic templates to suit their storytelling needs.
The evolution of data visualization becoming a medium of storytelling makes sense. It makes sense because ever since cave dwellers wrote stick figures on cave walls, humans have used images to tell stories. Words will not disappear. However, the dominant force of images and language combined in data visualization will optimize information to maximize market share.
Data Journalism Hits Mainstream
News outlets are beginning to utilize data visualization in their news stories. In the future, media companies will increase their use of this technology to improve the engagement of readers. Editors will love it because data reports do not take up much screen space and give essential data points without dumbing down the information.
Funding for Data Cleansing
Forbes magazine has reported that data scientists spend 80% of their time cleaning data and spend the rest of the 20% doing their required work. Look for increased funding in the realm of cleaning data.
Unified and streamlined approaches to data will be prominent in the future of data visualization. A lot of data management has become discordant because of the number of different eyes and hands handle the data. Improved data visualization platforms will allow users to securely share full data sets in a unified manner across various departments within an organization. This enhancement includes annotations and updating real-time data.
The enriched data visualization platforms also facilitate increased captivating graphics tools and designs that permit efficient data analysis. This enhancement will speed the creation of reports that highlight business operations and other business-related data.
Improved Report Creation
Enhanced tools such as KPI widgets, tabular view elements, and turning tables will help speed up report generation. This improvement will enable precise, entire, and on-time reporting that will ensure accurate decision making. Also, data reports will become easier to insert in all the company’s digital channels of communication.
The Advent of Artificial Intelligence Playing A Vital Role in Report Generation
Artificial intelligence will play a more significant role in gaining a more in-depth analysis of data. AI will be able to use SQL to arrange unstructured data which will help out data cleansing. Also, data modelling language will become unified, resulting in seamless data linking activities. As a result, data scientists will only perform their needed work and report generation will quicken.
Data visualization is and will always play a vital role in the ability of businesses to innovate and maximize profit. In turn, this technology will become entwined with our daily lives. Data visualization has always been with us; we have gone from writing stories on cave walls to books to comic books, and now to computer and smartphone screens.