Data Visualization, what is it and how is it applied?

Data Visualization is the art of representing complex data in meaningful visual formats, such as graphs, maps, and diagrams. Its primary goal is to transform raw data into easily understandable information, enabling people to draw quicker and more accurate conclusions.
In today's context, where every company generates, handles, and stores large amounts of data, it is increasingly important to extract information from these data.

Graphic visualization is important for businesses because it allows companies to extract value from their data more efficiently and effectively. Here are some recent studies and arguments demonstrating the importance of Data Visualization for businesses:

• Ease of Understanding: Information displayed graphically is easier to understand compared to that presented in textual or numerical form, as it allows for a visual and intuitive representation of data. In fact, 90% of information transmitted to the brain is visual.
• Memory and Retention: People tend to remember and retain visual information longer than textual or numerical information, making graphic visualization more effective in conveying complex and detailed concepts. The human brain processes images 60,000 times faster than text.
• Pattern Identification: Graphic visualizations make it easy to identify patterns, trends, and relationships in data that may not be immediately evident in textual or numerical form. Managers in organizations that use visual data retrieval tools are 28% more likely to find timely information than those who rely on managed reports and dashboards.
• Interactive Exploration and Analysis: Interactive graphic visualizations allow users to explore and analyze data in more detail and customization, providing a level of flexibility and depth that is not possible with textual or numerical visualization.
• Stakeholder Engagement: According to research, 61% of companies believe that Data Visualization is important for engaging internal and external stakeholders.

A crucial aspect of the evolution of Data Visualization concerns the major emerging trends in this field. For example, interactive data visualizations are becoming increasingly sophisticated, allowing users to explore data in more depth and customization. Additionally, the use of 3D data visualizations and augmented reality is becoming more widespread, offering a more immersive way to explore and understand data. The integration of Artificial Intelligence and Machine Learning into data visualizations is a growing trend, allowing for the identification of hidden patterns and trends in data in a more automated and precise manner. Real-time visualizations are becoming increasingly important for monitoring and analyzing continuously changing data. Finally, with more people working on the go, mobile-optimized data visualizations are becoming essential to enable managers to access data wherever they are.

In summary, Data Visualization is important for businesses because it improves data understanding, supports decision-making, simplifies communication, and can lead to a competitive advantage. Investing in this science can lead to greater operational efficiency and reduce the risk of making wrong decisions or relying on outdated information, thus helping to protect the financial health and reputation of the company.