Data visualization is becoming a critical skill set that every business and organization should grasp as information technology advances. Data visualization plays a critical role in comprehending and turning company metrics into the most understandable form possible. This information is presented in visual representations such as graphs, charts, movies, and even photographs.
According to research conducted by the Wharton School of Business, excellent data visualization can reduce meetings by 24%. By 2021, the market for data visualization tools is expected to rise by 11% yearly, from $5.9 billion to $10.2 billion. This is why keeping up with the newest data visualization trends is critical. Here are the top 5 Data Visualization Emerging Trends to keep an eye on.
Data Stories
Data stories are a method of presenting data in the form of visualizations, and they are the most frequent means of comprehending analytics. Humans are more receptive to stories than to facts given at random. As a result, data analysts must also be excellent storytellers.
Real-Time Data
Companies and organizations benefit from cloud computing because it allows them to access and monitor real-time data from several places. Managers can build reports and display their data in real-time using cloud financial management tools. This can be quite useful because it makes data analysis much easier.
Video Infographics
The majority of customers choose movies to better understand the material. As a result, data scientists are employing video infographics to make data more entertaining and accessible to consumers.
AR and VR
Virtual reality and augmented reality are taking industries and data to new heights. When paired with data visualization software, AR and VR can allow for both viewing and interaction with the material. Google employs virtual reality (VR) for its most vibrant and interactive maps.
AI
By utilizing machine learning and automation to analyze data and identify patterns that people are unable to detect, AI has been doing well. The visual depiction of data is greatly aided by AI.
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