With the amount of data being produced increasing dramatically each year businesses are becoming more focussed on numbers in their decision-making processes.
Sheer volumes of data alone to do not provide business users with valuable insights, it needs to be analysed and organised to realise its value.
This is where modern data visualisation tools like Oracle Data Visualisation puts the power in the hands of business users by giving them the ability, in real time to spot patterns, trends and correlations in their data.
Described below are some of the benefits we see data visualisation bringing to our customers.
- Interact with data
Unlike traditional charts, tables and reports which can only be viewed the technology built into Oracle Data Visualisation allows users to interact directly with the data. Standard reports could inform a business that sales are down for a given period. They won’t however inform why sales are down. By using real time insights the latest figures can be reviewed and underperforming areas visually highlighted. Action can then be taken to respond quickly and improve performance by offering a different way to look at business strategy.
- Discover relationships and patterns
Data visualisation enables end users to see patterns and relationships that occur between operations and business performance. It’s easier to see how certain tasks or activities impact overall business success. Historical trends can also be analysed allowing current performance to be compared with the past and future forecasts.
In this example it allows business users to identify any reasons for growth and repeat, or on the flip side of that quickly find the root cause of any slump and fix it.
- Absorb more information easily
Data visualisation enables business users to view, explore and interpret vast amounts of information. It allows decision makers to see connections between multi-dimensional data sets and provides insightful ways to interpret data through heat maps, bullet charts, and other pictorial graphical representations.
Surveys have shown that business using these data analytics tools are more likely to find the information they are looking for sooner than those who rely on traditional standard dashboards and reporting.
- Spot emerging trends
Using data visualization to analyse data volumes that businesses are now able to gather about customer and market conditions, it can provide insights into new business opportunities. Data visualization allows them to be proactive to customer behaviour and market conditions as opposed to being reactive.
Oracle Data Visualisation is allowing our customers the ability to discover the insights hidden in data from multiple sources, with rich, interactive visuals. It is easy to use with drag and drop functionality, yet powerful enough to perform the advanced calculations.
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