4 Ways Data Visualization (Business Intelligence) Has Helped Real Companies
I am the CEO and Founder of a business intelligence consulting firm called Omni BI Solutions (“OBIS”), based in New York with a profile on Upwork, but at heart, I am a storyteller. A storyteller whose narrative is rooted in data.
I love nothing more than the challenge of finding and telling the unique data-driven story of my clients. Our mission at OBIS is to empower our clients to make informed business decisions that are aligned to their objectives, growth goals, and of course, based on real-time data. Over the last couple of years we’ve worked with companies spanning 25 unique industries, both nationally and globally.
A favorite part of my job, no matter the company, industry, or country, is seeing the "aha!" moment on my client’s face when they finally see their data visualized in a clear, concise way that helps them understand their business model better, or answers outstanding questions they’ve had lingering. We thrive on this moment of “unlock” that helps our client see the path forward to success.
What is data visualization?
Many have heard the term data visualization but don’t understand what it is or how it can improve a business’s operating model. Data visualization, simply put, is the graphic representation of information. When data is presented visually, it is easier to see patterns, trends, and relationships that may not be immediately apparent when looking at raw data.
This can help businesses, regardless of industry or size, make better decisions, identify opportunities for improvement, and better understand their customers. Data visualization is also useful for presenting data to others, such as stakeholders, employees, or customers. Visual representations of data can be more effective in getting a message across than raw data or text alone.
Data visualization can help to break down silos and ensure that everyone in an organization is working towards the same goals. It can also improve communication and collaboration within the organization, as it provides a clear and concise way to share information and insights.
Overall, having transparent and accessible data visualization can be a powerful tool for improving decision-making, alignment, and collaboration within a business. Data visualization is crucial for businesses of all types and industries because it helps to make sense of complex data sets and uncover valuable insights that can drive better decision-making and improve business performance.
These three data visualization examples show how graphic representation of data tells an easy-to access story, no matter the topic or business
Fun ways to describe data visualization Here are some memorable similes I use to help my clients understand what data visualization is like and why it’s valuable.
Treasure Map: It helps you to uncover valuable insights and discoveries that might otherwise have remained hidden
Compass: It points you in the right direction and helps you to navigate complex data sets
Puzzle: It allows you to see how different pieces of data fit together and form a bigger picture
Thermometer: It allows you to see how hot or cold different metrics are and how they are changing over time
Traffic light: It provides a quick and easy way to see at a glance which metrics are doing well and which ones need attention
Microscope: It allows you to zoom in on specific details and get a closer look at patterns and trends
Picture: It can convey complex ideas and relationships in a simple and easy-to-understand way
Weather forecast: It helps you to predict what might happen in the future based on past trends and patterns
What’s an example of a typical data visualization process? Have I piqued your interest? If you’re wondering what working with a data visualization team is like, here is a typical process we go through at my company OBIS:
We sit down with our clients and discuss the end-to-end current state environment, covering all types of questions surrounding people, process, data, and technology stack.
After, we discuss with relevant stakeholders within the company what the desires are for a future state environment, we document the key business and solution design requirements and socialize with our clients how we can support their business intelligence or data visualization needs.