Information visualization involves depicting data visually in a purposeful way so an observer can understand it. Frequently used examples of information visualization are scatter plots, treemapping, heat maps and dashboards. “Information visualization” — sometimes used interchangeably with the terms “data visualization,” “statistical graphics” and “information graphics” — is important for making data digestible and turning raw statistics into a competitive business advantage. Information visualization can show applicable connections and allows users to understand data in a coherent and effective manner.
Students enrolled in the online Master of Business Administration (MBA) program from the University of Southern Indiana will take classes such as Information Visualization and Dashboarding to develop a vocabulary and framework for discussing and designing visual displays of data. This degree program offers interactive learning and instruction to think critically and creatively within the world of business.
How Businesses Use Information Visualization
Businesses use information visualization to understand markets, consumers and large amounts of data. Taking advantage of different types of visual tools can make sharing information straightforward. Visualization aids can be timelines, data charts, diagrams, maps, plots and more. Since information visualization can impart knowledge faster than text-based data, it can quickly improve workplace outcomes. Since many companies say that managing information is a challenge, many organizations acknowledge that data-driven decision-making can help them gain a competitive advantage. Here are a few reasons why information visualization is beneficial for businesses:
- Plan for the future. Making data-driven decisions can help companies grow and focus on the organization’s direction. Understanding business data can help those in management positions understand what’s working and what’s not. Discovering new directions and opportunities can result in future success.
- Keep up with the trends. Information visualization can track and make sense of current business trends. It can provide accurate insights to make connections that text-based information just doesn’t supply. Seeing correlations between geography and sales numbers or website traffic and seasonality can help professionals interpret numbers accurately.
- Focus on customer service. Information about customer behavior — what they like, don’t like, look for in a product or service and how they utilize the product after they buy it — are all valuable pieces of information. These details can help a business see where it can change and give customers exactly what they want. Knowing what consumers demand and expect can help a company emphasize customer service.
- Ask questions. When trends and patterns are apparent, ask questions to enhance the future of a business. What is causing a drop in sales? Why are sales better in one part of the state than others? Is there a way to tailor advertising and marketing to those geographical areas? Once you visualize information, taking steps to improve becomes more apparent.
- Stay up to date. A business that has control of its data and can make it visually understandable for everyone has an easier time keeping its information current. Many visualization aids will automatically repopulate and update when synched with other information applications.
How a Master of Business Administration Can Help You
USI’s interactive online MBA program can prepare you to understand and participate in current issues where society and business intersect, such as the challenges of globalization, the ethics of business administration and the ever-changing world of technology. As a business school graduate, you can stand out in a crowded job market and qualify for various roles, including operations research analyst, product manager, business operations manager and market research analyst.
Learn more about the University of Southern Indiana’s online Master of Business Administration program.