Data Visualization ensures an easy understanding of enormous data figures and their efficient usage by companies for growth and evolution. We herein analyze market trends that are touted to influence their developments in 2021.
A simple text is no more enough to project data, facts, and figures, or even assumptions. In today’s graphical world, no one has the time or inclination to read long texts and understand meanings. This is where the concept of ‘data visualization’ steps in.
Data Visualization is the various graphics and data representation visual tools that help the user to clearly understand the outcome of various studies and analysis. Remember, the recently created covid-19 graphs of different countries broadcasted everywhere? They too are a form of data visualization to clearly indicate the virus growth and decline patterns.
Understanding the Need for Data Visualization
Data Visualizations clearly communicate the relationships of various variables of data in a clear and concise manner. In today’s era, where eons of data are generated through billions of gadgets on the IoT networks every second; to read through them is also going to be a herculean task for a normal individual. Data Visualization by system computation makes it easy.
Moreover, with the colored patterns mostly utilized to clearly objectify data variables, learning and understanding their meaning tends to become much easier and retainable. Data Visualization helps users understand the outcome of data processing in one go, without much ado.
Market Trends that shall deviate data visualization in newer directions
With varied forms of data and representations, data visualization has been helping businesses and organizations to communicate better with their intended audience. Their evolution in coming times shall depend upon:
1. Increased effectiveness of Big Data
Big Data is the enormous user data collected by websites, mobile apps, IoT devices, etc., and then stored in cloud servers. With millions of targeted users, this data is touted to run into scores of gigabytes on a per-day basis. It is not humanly possible for businesses to get around this enormous amount of data. Data Visualization in terms of clear graphs and charts ensures that business owners as well as their teams understand the outcomes in real-time and utilize it when developing their marketing as well as business growth strategies.
2. More Emphasis on Storytelling
Good stories speak louder than any amount of words and tend to stay with the users for a long time.
Data basically is just a set of numbers that assign values to varied data variables. Market trends suggest that these numbers should be placed and presented in such a way, that they are able to clearly communicate their reasons to be there. Effective storytelling and clear headings make it possible. For instance, An organization may present its salary figures in terms of their employees. They might also present a world median range clearly specifying world normals. It would clearly help a user to understand the salary and growth potential of the organization.
3. Visualization through AR and VR
With the advent of 3-d technologies, they are slowly transforming as the preferred medium of choice for interface options by users the world over. So, is the case with data visuals. Various 3-dimensional objects based on these technologies are being increasingly inculcated within the online presence of businesses. They are being used to build and represent models, supplement maps, develop games, virtual events, amongst others to enhance the effectiveness of mobile app launch.
4. Inclusion of Hybrid Cloud Services
As of now, most of the IoT networks as well as businesses send their data to dedicated clouds where the data is further analyzed and processed. But, there are several issues in relation to this organization that tends to hamper complete data usage for these companies. Security, privacy, latency time are some of them. Herein, a hybrid cloud can be used by businesses by connecting public clouds to private clouds to create a single cloud infrastructure. It shall easily handle all computing workload, apart from improving developer productivity, generating greater infrastructure efficiency, creating a more secure environment for data by following regulatory compliance systems, greater innovation, and quicken a product’s time-to-market. With the private-public partnership, these ‘hybrid clouds’ shall also help in creating easier and smarter cloud automation systems.
5. Proliferation of Smart Devices
Smart connected devices are going to touch the 50 billion mark in the next two years. They would thus be churning in eons of data every minute and hour. With advances in technology and user interface designs, user expectations are also set to rise high, in terms of customization and personalization of content as well as products and services provided to them. This is exactly where data visualization steps in as it will help the businesses detect abnormalities, trends, and spikes in data and utilize them to the hilt to deliver as per customer expectations. For instance: Smart maps in the near future would be able to analyze the amount of traffic a road would have at a particular time beforehand, on the basis of data visualizations of traffic history at similar timings. This is where the world is being led to.
6. Data Visualization in Real Time
As devices become smarter, so will their data. Similarly, the means to process them will also have to be smarter. Smart Data Visualization options shall soon enable the development of these trends in real-time in order to help businesses deliver as per real-time customer requirements. For instance, a population counter shall be able to count births in real-time and develop data visualizations simultaneously to let users clearly see the birth numbers and their trends.
7. Edge Computing would make things faster
Edge Computing is basically the addition of a ‘node’ within the IoT topology that enables storage and processing of data closer to source or destination, rather than insecure clouds. With companies now understanding the value of ‘user-generated’ data and its processing in real-time; they have been choosing to opt for the edge computing bandwagon. In terms of data visualization, the technology would help in the faster creation of graphs, charts, etc. in real-time; decreasing the scope of latency errors or stale data issues.
Developing data visualization is necessary
Undoubtedly, data visualization helps in better analysis of data, leading to quicker actions by businesses. It effectively and efficiently helps in identifying patterns and finding errors in data or procedures. Since they help businesses understand the user story better and in a clearer manner, they are now a must-have in all online presence options for businesses.