Data visualization best practices make sense of customer information so you can turn it into practical tools and make your business better. With insight into how your business targets and services customers, you can improve workflows, optimize pricing, raise conversion rates, and reduce customer attrition.
However, not many enterprises have truly taken advantage of this. A 2018 Pulse Survey by Harvard Business Review found that only 10% of respondents had embedded data and analytics into all processes and decision making within their company.
This is because the process of reducing a warehouse of data down to actionable information is complicated. Outsourcing your data visualization and analysis to external software development experts is the most efficient way to gain a market advantage from the information you already own and increase ROI.
What Can Data Do?
Data visualization is the process of analyzing raw customer and enterprise information into valuable insights. Advanced Big Data and analytics solutions cover a lot of technical ground, but they essentially deliver against five key goals:
An assessment of the way you conduct business, the return you get on customer engagement, and the resources you use to achieve your goals lead to more efficient ways of working. Business intelligence gives your staff the accuracy and feedback needed to more accurately and efficiently go about their business.
Data warehousing combines all your streams of information into a central location and analytical hub where it can be used to measure efficiencies across your enterprise. You can compare performance against desired goals to streamline your product delivery.
While sometimes used as a catch-all for information analytics in general, Big Data specifically refers to the large amounts of data that flow through your business every day. Making sense of this information helps you make strategic decisions about how your company operates.
Data science is the search for patterns and solutions. It is a way of distilling down your operations into the most important factors so you can identify how best to attract and service customers.
This is the process of turning your information into visual elements that can be used by your staff. Such systems have to bring together a range of sources into a single, usable interface where they become insightful tools and not just impenetrable reams of numbers.
The examples above demonstrate how your raw data can be tamed to become actionable tools. Once you have these tools in place you can use data visualization best practices to actively improve your business marketability.
How Data Improves Marketability
Data visualization helps you find the most efficient way of working with the information you are already generating. With practical and highly accessible dashboards, analytical information, and master data management platforms, you get working insights into your operations, customers, and products.
This makes your presence in the marketplace more accurate and effective. You can pinpoint your resources to areas where they’ll most effectively translate into results.
You can target customers you know will benefit from your solution by better understanding their needs. You can provide competitive pricing by delivering a more efficient service. You can even improve conversion rates by providing access to product features you know will impact the customer’s bottom line.
You’ll also get more out of your internal resources. Staff can scale their customer service activities by using information that is relevant across segments. They can better deliver value to customers by targeting their delivery at known points of impact.
Overall, data can show you which areas of your enterprise work efficiently and which areas need to be improved, or perhaps even discarded. Turning that raw data into visible, actionable steps takes expert care.
Outsource to Make the Most of Your Information
Data science is not for the uninitiated. There are mountains of information attached to every workflow and customer interaction that can ultimately prove useless if you’re not sure how to cut through to the real insights.
Engaging a high-quality outsourced partner takes the pain out of visualizing data analysis. Using data visualization best practices, these experts can create a software solution that draws information from across your enterprise and funnels it into easily consumable formats.
You can employ an end-to-end software development outsourcing solution that turns responsibility for your entire approach over to industry experts. These experts can produce a final product that reduces all the vital information down to a usable, visual dashboard interface that your staff can use as regularly and as easily as they do their desktop phone.
Alternatively, you can deploy an IT staff augmentation solution that populates your team with working professionals who can monitor and access your data insights for you, or participate as ongoing team members using the information to make suggestions on how to improve your marketability.
No matter which structure works best for your project, external experts maximize your resources. They can implement a data system using your domain’s latest trends and technologies and produce a visualization element that is accessible and requires minimal training and operational lag.
You can further enhance your data efficiencies by seeking a nearshore software development services partner that has advantages over US-based third parties. Working with a nearshore software development company means that your outsourced team will speak your language and be available on your schedule, thanks to aligned time zones.
Data Visualization Best Practices Require Quality Practitioners
Data visualization is about getting a clearer look at your business and your customers. When you arrive at a working solution that turns data insight into a practical component of your everyday operations you make your business more efficient, and more competitive.
Making the most of these competitive advantages means more than just having a system in place. Partner with an industry expert and maximize the benefits you realize from turning the information you already own into new, improved ways of attracting and servicing your customers.
BairesDev can design and manage the most efficient data visualization system for your enterprise because we rely on the Top 1% IT Talent. Our expert engineers can design and implement an entire analytical system for you, or work alongside you to make sure you’re getting the maximum benefit from your own data. Contact our team today and start to be smarter with your data.