The ABC of Data Analytics and Data Visualization
The whole confusion around data visualization and data analytics, of whether they are the same thing, isn’t it a matter of ‘potatoes versus poh-tah-toes’? In this case, it’s much more than that. The two cannot be used interchangeably. Here’s a three-point primer on the two, and the role each one plays in business intelligence (BI). Let’s start at the very beginning.
What are they?
Every single day, businesses generate huge volume of data. By itself, this raw data is not of much use. Data analytics is a practice, which helps businesses examine both structured and unstructured data and extract valuable information that is critical to make informed choices. With the rapid pace of digital transformation today, a greater number of companies are leveraging analytics. According to the International Data Corporation (IDC), by 2022, global revenues from big data and business analytics will be $274.3 billion.
Data visualization, on the other hand, is described as the representation of data in the form of graphs, charts and other pictorial elements. This makes it easier for decision-makers to grasp complicated concepts with ease.
Why do people think one is the other?
To be fair, there is a valid reason for this mix-up since both help demystify large volumes of data and both are essential for decision-making and delivering business intelligence via valuable insights but that’s where the similarity ends.
Analytics involves processing large volumes of raw data through algorithms or mechanical processes and extracting meaningful information from the output. The visualization process makes it easier to communicate these insights effectively and make sense of them efficiently.
Which one is more useful for your organization?
Actually, it is not about choosing one or the other, since both are critical components of business intelligence. While analytics helps businesses get a more nuanced understanding of the huge volumes of data at their disposal, this information is often presented in a two-dimensional format, which can be cumbersome to get through by itself. This is where data visualization plays a significant role, by presenting the accurate insights in a visual format that’s much easier to consume.
So, your best bet would be to invest in a tool that offers you comprehensive business intelligence capabilities. When large global enterprises trust an industry-leading solution like the Adobe Analytics suite for their end-to-end BI requirements, there are plenty of reasons why you should as well. By integrating the rich insights and customer intelligence derived via Adobe Analytics Implementation Services into key business processes, you can devise the right kind of strategies and reach out to newer audiences.
With Adobe Analytics Implementation Services, you have a range of options to deep dive into complex data and come up with valuable insights that can power the growth of your business. To know more, visit https://www.nvish.com/adobe-expertise