<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=349935452247528&amp;ev=PageView&amp;noscript=1">
Search
word-map-thumb

The Alternative Board Blog

How Business Visualization Tools Help You Communicate

May. 16, 2019 | Posted by The Alternative Board
facilitator-banner-147205319

There are two fundamental truths about information and human nature that CEOs and business owners should probably come to grips with:

  • We are drowning in data.
  • Humans process information through images more effectively than through words alone.

Recognizing these truths, business visualization tools (also called “data visualization” tools) are designed to move past word-heavy reports and similar resources to more effectively communicate business strategy. It’s an extremely useful way to share the lessons learned from data analytics.

The Benefits of Data Visualization

 As Tech Republic notes, data visualization is “the graphical representation of information and data using graphs, charts, diagrams,” etc., used to show “non-technical (and technical) business stakeholders what the ‘shape’ of data they are working with really looks like.”

Most businesses these days routinely collect vast amounts of data, related to operations, marketing, customer demographics and other key areas. But until this information is filtered through an analytic process to emerge as Business Intelligence (BI), it’s simply raw data—largely incomprehensible to everyone except trained, experienced business analysts.

Visualization tools transform this raw data into information businesses can use—first, to better grasp pertinent developments or patterns affecting the business, and second, to communicate what this data means to various constituencies.

Recasting data into a narrative form has benefits beyond communicating information. Data visualization can significantly improve the strategic and decision-making processes.

“Telling a great data-driven story can be useful for [making] key observations about your customers and their wants,” notes Forbes, and also “help with lead generation and customer retention.”

Given these benefits, business leaders and department heads throughout the organization should strongly consider incorporating data visualization tools in their presentations.

Want additional insight? Download Hiring a Business Coach for Your Small Business now 

DOWNLOAD

Know Your Audience

The range of useful software tools in this field is too broad to summarize here (start by taking a look at PC Magazine’s listing of “Best Data Visualization Tools of 2019”). But whatever tools you choose, they should be based on a precise knowledge of the audience you intend to reach.

  • Customers. The right tools can explain the benefits of your products or services in a highly visual manner, leading to a boost in lead generation and conversions.
  • Investors. Business visualization can effectively communicate current and projected trends in your industry, leading to greater excitement among stakeholders in supporting your strategic growth efforts.
  • Employees. The right presentation can answer a wide array of employee questions all at once, such as where the business stands today (in terms of profit and loss, for example) and where you plan to take it tomorrow. Sharing this kind of information also promotes heightened engagement and, down the road, enhanced employee retention.

Tips on the Best Use of Business Visualization

Once you’ve determined the audience for your graph, chart, dashboard, etc., it’s time to judiciously select the data you wish to share.

“Think of yourself as an editor trying to cut down three hours’ worth of footage into a 90-second commercial,” advises Izenda, makers of an embedded analytics platform. The goal is selecting “the most compelling and interesting imagery, while leaving everything else behind.”

Aim for simplicity. It’s tempting to release the unbridled power of data visualization software and go for glitz and zing. Experts suggest resisting that urge and keeping your presentation simple. Your message will likely have more impact that way.

Simple doesn’t mean opting for black-and-white. Using colors in your visuals helps guide the viewer’s eye to information that matters the most.

Finally, keep in mind that you’re telling a story through data visualization. The images you choose should illuminate a narrative or pattern that resonates with your chosen audience.

That way, you’re making the most of this advanced and sophisticated means of business communication.

Read our 19 Reasons You Need a Business Owner Advisory Board

DOWNLOAD

Written by The Alternative Board

Related posts

When the Time Comes to Fire a Family Member
May. 11, 2021 | Posted by The Alternative Board
Terminating an employee isn’t something business owners and CEOs relish. When the situation demands some drastic action, however, it’s necessary to follow through for the good of the business. The...
17 Essential Traits of Successful Entrepreneurs - Part 1
May. 10, 2021 | Posted by The Alternative Board
While a great idea and some capital may be essential for a successful business, the most critical ingredient for a successful venture remains the entrepreneur. This is why many successful venture...
How to Sell During Times of Uncertainty
May. 6, 2021 | Posted by Phil Spensieri
If your business is struggling right now, you may be wondering if there’s anything you can do to improve your sales. While there’s no guarantee that any specific strategy will accomplish this during...
Managing Family Business Conflicts
Apr. 29, 2021 | Posted by The Alternative Board
Small business owners and CEOs have plenty to contend with as part of their normal daily operations. When the business is family-owned, a different crop of challenges may emerge. That’s because “the...
Tips on Effective Business Succession Planning
Apr. 27, 2021 | Posted by The Alternative Board
With many family businesses, the time to think about succession planning starts on Day One. It’s a complicated subject, sometimes fraught with emotional baggage, but is critically important,...
6 Ways You Can Improve Communication in a Family-Owned Business
Apr. 23, 2021 | Posted by The Alternative Board
The golden rule for the success of any family-owned business is to be transparent and have an open, honest, and straightforward line of communication.  While communication is critical to the success...
6 Tips on Making a Family Business Partnership Work
Apr. 20, 2021 | Posted by The Alternative Board
We often hear stories about the difficulties of making a family business partnership successful. Yes, there are unique hurdles that differ from other types of business models, but with the right...
Tips on Achieving the Elusive Work-Life Balance
Apr. 16, 2021 | Posted by The Alternative Board
Among CEOs and business leaders, the search for the best work-life balance has been going on for years. Only recently has the crucial importance of this balance become crystal-clear for everyone....
Time-Saving Tips for Hyper-Busy Business Leaders
Apr. 13, 2021 | Posted by The Alternative Board
There may be only 24 hours in a day, but with effective time management, business leaders can get a lot done within that limited timeframe. The key is taking steps to eliminate clutter and...
How to Build Employee Culture with a Remote Team
Apr. 6, 2021 | Posted by Phil Spensieri
Whether your staff have been working from home for the past year or rotating between home and the office, there is no doubt that for most of us there has been a change in our working environment....