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A picture is worth a thousand words.

Frederick R. Barnard (1921)

A century later, these words ring more accurately than even Frederick R. Barnard could ever have imagined. Data visualization and business intelligence have become a widespread and common practice throughout multiple industries. Innumerable businesses rely on data visualization because of the plethora of data that users generate each second.

As users spend more time online, they produce more data. And the more data they create, the more insights and patterns there are to discover. These insights then help businesses determine how, when and who to approach to sell their products and services.

Organizations that have effectively utilized data have done so using data visualization and business intelligence. Apple, Google, Amazon, Facebook, and every other goliath rely on B.I. to derive insights regarding their users. These insights are then presented in the form of effective dashboards using data visualization techniques. There’s no wonder why this industry is snowballing.

trends of data visualization

Today, we’ll be taking a look at several significant trends that are emerging in the field of data visualization and B.I. during 2021. But first, let’s take a look at why data visualization is essential.

The Importance of BI & Data Visualization

Have you ever wondered, “What benefit does data visualization provide my business?” According to research carried out by Wharton School of Business, businesses that use data visualization reduce meeting lengths by at least 24%. Similarly, companies with advanced business intelligence capabilities are twice as likely to be among the top quartile of best financially performing companies in the industry.

Not to mention, data visualization is helpful for managers as well. Managers that use visual data recovery methods are 28% more likely to get information timely. Interestingly, almost half of these managers can find the information they need without the help of I.T. staff.

So there’s plenty of benefit of applying business intelligence and data visualization, both on an organizational and individual level. So if anyone is still a skeptic, it’s time to abandon the doubt and jump on the data visualization bandwagon.

From Dashboards to Data Stories

Data visualization has been around for quite some time now. So much so that organizations are well on their way to taking steps to improve it. Gartner predicted that dashboards would become obsolete shortly. The switch to dynamic data stories in 2021 already proves this prediction true.

This switch was inevitable as well. As users produce more data, companies need a way to communicate this data among organizational members effectively. Data stories are cropping up to be the best way to do this. However, this trend does not mean dashboards will disappear immediately or even indefinitely. Data dashboards are still an effective way to monitor performance and will remain so for some time.

Adoption of Artificial Intelligence

Artificial intelligence has been a major technological trend in the 21st century. So it is only natural that the technology becomes an essential addition to data analysis and management systems. Recent studies show that many firms in the tech industry use artificial intelligence to collect, analyze and disseminate information throughout the organization.

Artificial intelligence

But how does artificial intelligence help improve data visualization? The technology behind the phenomenon utilizes machine learning. Users develop ML models that learn patterns and task execution as more and more information users feed into them. These ML models then construct data visualization dashboards that help executives understand the most critical aspects of a business.

This is also where automation comes into play. By using Robotic Process Automations, data engineers can prepare automated data visualization capabilities. Companies can save such precious time and resources while Data Visualization (DV) models develop according to previously established parameters.

Social Media Data Visualization

One of the trends that we will see in 2021 is more businesses trying to communicate with users using data visualization. While this may pose a challenge in respecting that users do not understand DV models readily, they can be taught. And that’s what companies are banking on.

With tools such as Google Charts, Search Console, and Maps, some degree of data visualization is already a part of users’ lives to some extent. But as more users begin to decipher data with visual discovery methods, companies see an opportunity to capitalize on a budding market.

Use of Video Infographics

It was only a matter of time before video became a dominant method of conveying information. 2021 will be the year when the use of video to convey information skyrockets. There are a few good reasons why this trend is catching on.

For one thing, humans seem to retain more information when delivered in the form of a video. In a recent poll, 67% of users stated that they would prefer to learn about a new product or service through a video rather than pictures or text. Similarly, in an experiment regarding data retention, people who had video aid performed 323% better than those who had text-only instructions.

These studies and experiments show why the introduction of video infographics is so essential and long overdue. If companies can promptly take advantage of this trend, they can improve offerings and promote them to a broader audience.

Real-Time Data Visualization

Although not a new one, this trend is catching on rapidly as companies realize the inefficiency of analyzing past data. A few decades ago, analyzing historical data was sufficient in the digital arena. That’s because not a lot of companies were using this technique. And as long as you work in the financial industry, historical data is just fine.

But in the tech industry, past data is rapidly becoming obsolete. That’s because there is higher competition with more companies vying for the attention of a single user. Thus, the user’s information is crucial to understanding their needs and fulfilling them as soon as possible.

However, past information becomes outdated the minute someone else capitalizes on it. No company wants to be left behind dealing with stale data. That’s why real-time data visualization is taking off. Companies can gather and analyze the information as soon as it comes in thanks to advanced visualization capabilities.

Data Visualization

Data Visualization through V.R. & A.R.

Virtual reality and Augmented Reality are the following steps to video visualization. Although the complete adoption of A.R. and V.R. in data visualization is still far into the future, some companies are taking the preliminary stages.

For instance, Silicon Valley startups are experimenting with combining virtual reality technology with data visualization to generate models, maps, and games. This allows users to visualize data in 3-D and interact with it in new and exciting ways. This trend has many potentials, and that’s why the market for V.R. data visualization may amass $72.8 billion by 2024.

Hybrid Cloud Services & Data Visualization

The use of cloud computing to store and analyze data is prevalent in the 21st century. But 2021 and beyond will see the rise of hybrid cloud services that allow businesses to link public clouds to private clouds to develop a hybrid system that can guarantee a single cloud infrastructure. This infrastructure will, in turn, provide a secure environment for data to be processed, analyzed, and presented.

How Accurate Digital Solutions Can Help You?

Accurate Digital Solutions prides itself on staying ahead of the curve when it comes to BI and data visualization capabilities. We utilize artificial intelligence to provide business intelligence services that help put you ahead of the competition through smart and sophisticated technologies. If you want to capitalize on data visualization trends mentioned above, get into contact with Accurate Digital Solutions.

Conclusion

Several key trends are developing in 2021 regarding B.I. and data visualization. If businesses aim to get ahead of the field and utilize innovative technologies to seize opportunities, this is the time to do so. Although B.I. and data visualization are here to stay, it’s essential to act now to maximize the likelihood of success.

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