With advancing technology in the world of information, data visualization is becoming a vital skill set that every business and organization should master. Data visualization plays a huge role in understanding and converting it to the best possible ways to understand the insights of the business metrics. This data is in visual formats such as graphs, charts, videos, or even images.
According to a study, the Wharton School of Business found that an effective data visualization can cut down meetings by 24%. And the market of data visualization tools is likely to grow by 11% annually from $5.9billion to $10.2billion by 2021. This is why getting to know the latest trends in data visualization becomes important. Here are the top 5 Emerging Trends in Data Visualization to keep an eye on.
Data stories are a way where the data is explained in the form of graphics and this is the most common way of understanding the analytics. Humans respond more to storytelling than just randomly giving out information. And so, data analysts should also be great storytellers.
Cloud computing is being advantageous for companies and organizations for getting access and viewing real-time data from various locations. With the use of cloud financial management solutions, managers can compile reports and showcase their data in real-time. This can be of great aid as it makes it easier for analysing data.
Most of the consumers choose videos to better understand the information better. And so data scientists are using video infographics to create interesting and accessible ways for consumers to understand data.
Augmented reality and Virtual reality are transforming industries and data to great heights. AR and VR when combined with data visualization software can allow viewing as well as interaction with the content. Google uses VR for its maps that are most lively and interactive.
AI has been playing great by deploying machine learning and automation to analyze data and extract patterns that are not possible for humans to spot. AI is of great help in the visual representation of data.
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