I have a question for you…
Tell me one of the most common phrases that you have heard all your life but are untrue. (Comment down below)
For me it would be, “do not judge a book by its cover.”
Because everything you want to know is in the cover, the first impression, the first meeting - and if you fail to make the potential reader to read the book, the potential investor to invest in your business… No matter the restless hours you have put into the project, everything will go to waste.
So, if the investor comes to you, will you brag about the month long efforts you have put in, showing him data after data?
Well, of course No! You would focus on the Positive Projections and you will visualize them in the form of graphs or colorful presentations to ensure that the potential investor understands everything and is able to make decisions in a snap!
So, there you go. This is the importance of Data Visualization!
And it’s not just about the investor, it will give YOU the crystal clear view of what needs improvement in your organization.
So, if you think about it, in this dynamic economy, Data Visualization could be your right hand in effective and prompt decision making.
How does it work?
So, I will take a large complex data (let’s say I am using excel)
I would go on selecting that data,
and I will choose the appropriate charts - pie chart, bar graph, heat maps, etc. (anything that makes my complex data visually appealing and understandable)
I might even label a thing or two to configure it for a designated function.
And boom, my data is 10 times more understandable now!
I know easier said than done, therefore I will help you navigate through basic chart types so that you know what fits your needs and then I will also share real-world examples of data visualizations.
Navigating the Chart Jungle - Choosing the Right Plot
Charts for showing change over time
To put simply, these charts will help you track changes over time and make sense of the data. Bar, Line, Box plots (BLB - mnemonic) typically make it easier for you to observe changes overtime.
The bar chart: shows the ups and downs of your data with a snap of a baseline.
The line chart: taking your data for a scenic ride, showing change over time with ease.
The box plot: Need to know what's in the box? The box plot has got you covered, revealing the distribution of values for each time period.
Charts for showing segmentations
Let’s say I want to divide a population into different Income groups, age groups, genders, heights of people, etc. I would use Pie, Stacked Bar, Stacked Area (PSS - mnemonic) charts to represent the groups from a single population.
Pie charts: round and complete, dividing the whole into bite-sized pieces of data.
Stacked bar charts: dividing and conquering, breaking down each bar into its components.
Stacked area charts: adding shade to the game, showing the sub-group values that make up the total.
Fancy a challenge? Dive into the intricate world of Marimekko plots and treemaps, revealing hierarchical relationships with style.
Charts for looking at how data is distributed
Let’s say you want to want to win a fight against your parents as to who got the major portion of his inheritance, you can use Bar charts, Histograms, Box Plots (BHB - mnemonic) to earn your right. 😅Never tried it, let me know if it works. (Just kidding)
Bar charts: The trusty old sidekick of data visualization, great for showing off your categorical street cred!
Histograms: Your one-stop-shop for quantifying your data's chonkiness.
Box plots: The statistical MVP, providing you with a quick summary of your data's distribution, without all the fluff.
Data Visualization in the real world
Sales and Marketing: Show Me the Data!
Marketing teams use data visualization to see the impact of their efforts on web traffic, sales, and revenue. Charts and graphs help identify trends and make data-driven decisions, turning raw data into a story that even a 5-year-old could understand.
Let’s talk about an important Metric from Marketing called Lead Scoring.
Example: So, marketers use Data Visualization similar to the one shown below, to rank their leads based on where they lie on the Marketing funnel. To put simply,
you see if Lead X will buy your product or not
If X is likely to buy your product,
you can look at the leads dashboard, select X as your priority,
and strategize your messaging in a way that X purchases your product.
Politics: Map It Out
Data visualization plays a significant role in politics, from visualizing election results to policy decisions. Geographic maps display political preferences, giving a comprehensive picture of voting patterns.
Example: Look at the chart below, from the population of America, you can breakdown how many Americans voted in favor of Trump, Clinton, someone else, or no one.
Healthcare: Get a Picture of Your Health
Healthcare professionals use data visualization to understand important health data, like mortality rates and disease outbreaks. Choropleth maps provide a colourful representation of healthcare information, making it easier to see where help is needed.
Example: When a mother is in labor, the baby’s breathing is constantly being observed in a machine, where it generates graphs like these to show if the baby is breathing normally or is the birth going to be risky….
Science: Seeing is Believing
Scientists use data visualization to gain insights from experimental data. Scientific visualization (SciVis) helps detect patterns and trends that would have otherwise gone unnoticed, making science more accessible and understandable.
Example: Just yesterday, I read that science has made a discovery that Earth’s inner core has stopped rotating, projecting that Earth could start rotating in the opposite direction. (Musalamano! Namazen parhlo!) It was able to portray it using Charts showing change over time.
Finance: Make Your Money Talk
Finance professionals use data visualization to track the performance of their investments. Candlestick charts help analyze price movements, giving a clear picture of trends and helping make informed decisions.
Example: If I have to give you an example for this, then I think I am not doing the best job😂 Because every Tuesday when I used to drop my Technical Analysis, it was basically all based on it. Remember these?
Logistics: A Picture-Perfect Delivery
Example: You all order from Foodpanda and you notice how it effectively gives you the estimated delivery time.
Similarly, Shipping companies use data visualization to determine the best global shipping routes, making deliveries faster and more efficient.
Data Scientists and Researchers: Visualize This!
Data scientists and researchers use visualization tools to understand complex data sets and identify patterns and trends. They use programming languages like Python or proprietary tools to create visual representations of data, making it easier to see the big picture and make data-driven decisions.
In conclusion, data visualization is a powerful tool that helps businesses, professionals, and individuals to understand complex data and make informed decisions. Whether you’re a beginner or an expert, it’s a fun and creative way to bring your data to life!
Bonus Tip
After explaining the importance of Data Visualization point-by-point, I expect that you should incorporate Data Visualization in your daily life.
I mean, let’s suppose you are an influencer marketer, you reached out to 100 influencers and 35 influencers responded to you. What’s stopping you from presenting this data in the form of a pie chart in your portfolio showing 35% as your response rate??
I did my job here and now it’s your time to shine!
Make sure you send me screenshots of you actually incorporating Data Visualization in your life in one way or another.
On that note,
Hafsa and Zain from Team Inspired Analyst - signing off!