Data Visualization and Technology

Data visualization is the art of representing the data in charts and graphs. It has grown in popularity owing to its great effect in synthesizing what the data represents very easily. It enables decision-makers to see analytics presented visually, so they can understand difficult patterns, and identify new patterns. With Interactive visualization, you can take the concept a step further by using technology to drill down into charts and graphs for more detail, interactively changing what data you see and how it’s processed.

Why it is important?

Instead of pouring data on spreadsheets or reports, it is easier for the human brain to process the complex data when it is represented in the form of charts and graphs. Data Visualization is a quick and easy way to convey concepts in a universal manner and it can be experimented with different scenarios by making slight adjustments.

How is it being used?

Irrespective of Industry and size, all businesses are using data visualization to help make sense of their data to understand complex variables that impact directly their business decisions.

Here is how it is being used.

Comprehend Information Quickly

Using Data visualization, businesses are able to comprehend information quickly, able to see large amounts of data in a clear and concise way and draw conclusions from that information. And since it is significantly faster to draw conclusions and understand the raw data as opposed to looking at information through spreadsheets, businesses can address issues in quickly manner or answer questions in a timely manner.

Identify Relationships and Patterns

An extensive amount of complex data starts making sense with graphical representation. The business will be able to draw recognize patterns and parameters that are highly correlated. Some of the correlations will be obvious, but other’s won’t. Identifying those relationships helps the organization focus on areas that are significant and the parts which will influence in achieving their goals.

Pinpoint emerging trends

Using data visualization to discover trends-both in the business and in the market, can provide insights for businesses in understanding the product quality and customer churn out process. These things affect the bottom line. It is easy to spot the outliers and address the issues before they become bigger problems

Communicate the story to others

Once the business organization has got the trends and emerging patterns through the graphical representation of the data, it is easy to share it with others in the same format. Using the graphical representation of the data to share it with other departments in more engaging and gets the message across quickly.

JD Soft offers data visualization services in India a professional and masterly method to get the message across to the Inter and Intra departments in the organization.

Should we implement and invest in ERP or not in ERP?

This is the question many business leaders ask themselves. Acquiring an ERP software or system is one of the huge investments a business can make. Many small businesses claim that they are too small for investing in ERP. This mindset comes from the fact that the number of users in ERP drives the decision for the need for an ERP System.

The fact is in today’s scenario, small businesses should be fast and agile than their competition. In today’s small business landscape, no business is small for ERP. ERP allows small business to appear, act or operate like an enterprise-scale business.

What small businesses need to understand?

Within a small company or start up the employees need to wear multiple hats frequently. Everyone needs to pitch in whenever or wherever the need arises. No one has the time to manually process multiple spreadsheets and mountain of the data? ERP systems geared towards small businesses are able to bend and automate key functions such as order processing, production and finances.

However, ERP software is integrated into all departments of the company. Implement an ERP system requires careful planning, in order to minimize the risk of failure and to ensure goals are met.

This requires a standardized implementation blueprint, an established ERP Strategy, much before implementing the same with the involvement of business and IT staff members in the process. Any business can get a real ROI from the use of and integrated ERP system if implemented and executed correctly.

What benefits will a small business get from ERP Software?

Transparency: Instead of each department having its own information system, all relevant data can be shared and accessed by all departments. This will reduce the processing time, increase productivity and decrease the human resources requirement.

Decision Making: Real-time data is provided by the system. This will enable the management, accounting, and finance departments to reduce the time and make them make vital decisions driven towards achieving the goal.

Productivity: With the increased productivity and streamlined business processes, staff can shift their focus on managing increased volumes of business. This approach will help in overcoming different facets of business challenges and lead to an increase in business growth.

Enterprise business intelligence services in India continues to grow at the global level and the Indian Market. It is expected to reach $22.8 billion by the end of 2020. The Indian business intelligence sector continues to grow due to the fast-developing technology and new business challenges. Data has become invaluable to the companies, from small start-ups to global enterprises. Combined with this the growth in commodity hardware by way of cloud computing has increased the computational muscle of businesses to deploy their data to work for them and pushes the managers to accelerate data-driven decision. The following are some of the top Indian business intelligence and analytics trends that should be on the top of your mind.

Artificial Intelligence- Human Intelligence is being replaced by AI and machine learning. The research in the field of machine learning continues to improve the possibilities of deploying AI technologies for organisational improvements. The machine learning and AI is being leveraged to bring out the real-time data analysis and dashboard reporting to see situations as when they happen.

Collaborative BI- Collaborative decision making is achieved by using business intelligence software combined with other tools including social media and other technologies to enhance the working together and sharing teams of data and information with each other.

Embedded BI- What if the capabilities of Business intelligence are given to other applications you use? This approach will create an “Analytics Everywhere” environment. The BI software or some of its features are embedded into another business application to extend its analytics or reporting functionality.

Cloud Analytics- More BI applications will shift to cloud and more businesses will be shifting to the cloud-based technology because of its affordability and shorter deployment time. According to IDC predictions spending on cloud-based big data and analytics will grow 4.5x than on-premise solutions.