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The Importance of Data Visualization to Business Decision Making

by Rebeckah Blewett, Product Manager, Dundas Data Visualization, Inc.Sunday, June 12, 2011

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1.0 INTRODUCTION

Informed decision making is the foundation upon which successful businesses are built. As a decision maker for your business, you need access to highly visual business intelligence tools that can help you make the right decisions quickly. As your organization grows, so does the amount of collected information. If this data is delivered to you in spreadsheets or tabular reports, it becomes more and more challenging to find the patterns, trends and correlations necessary to perform your job well.

Effective data visualization is an important tool in the decision making process. It allows business decision makers to quickly examine large amounts of data, expose trends and issues efficiently, exchange ideas with key players, and influence the decisions that will ultimately lead to success.

The practice of representing information visually is nothing new. Scientists, students, and analysts have been using data visualization for centuries to track everything from astrological phenomena to stock prices. Only recently, with the adoption of more sophisticated BI technology in the corporate world and the ever-increasing practice of data collection and data mining activities, has data visualization in the form of dashboards been used as an important presentation tool in business analysis. As a result, the use of dashboards in making quick and accurate business decisions has become an essential requirement for remaining competitive.

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