2015 was a year of momentous change in the world of data and business intelligence. People started exploring their data with visual analytics. Companies are recognizing the fact that interactive data visualization as one of the top five trends cited by Gartner is changing business intelligence. New conferences and events have started to promote research and best practices in this area, including VAST (Visual Analytics Science & Technology), organized by the 100,000 member IEEE. Technologies based on visual analytics have moved from research into widespread use in the last five years, driven by the increased power of analytical databases and computer hardware. The IT departments of leading companies are increasingly recognizing the need for a visual analytics standard.
With the rise of “big data,” information visualization is emerging as an area that no one can ignore. Institutions are finding that key stake holders want to be provided with metrics when being asked to make decisions. There are challenges in this data-rich environment: providing the proper amount of information for each stakeholder in the organizational hierarchy and finding a way to translate data into easy to understand terms.
Visual Analytics aims at turning the data overload problem into an opportunity. Its goal is to make the analysis of data transparent for an analytic discourse by combining the strengths of human and electronic data processing. Visualization becomes the medium of a semi-automated analytical process, where humans and machines cooperate using their distinct, complementary capabilities to obtain the most effective results. The user has the ultimate authority in determining the direction of the analysis.
The greater emphasis on the ease of use and visualization when it comes to business intelligence software has fueled growth for Tableau. Most traditional business intelligence platforms only help people answer predetermined questions. They are report-centric and focus on enterprise IT requirements. This mindset is changing, and data discovery is gaining strong traction in the market. Data discovery involves exploring data freely, discovering insights from a set of data and analyzing and presenting those insights in an interactive and visual format. Data discovery makes it easy for business users without any technical skills to run queries and analysis. The users can learn at each step of the process and can come up with the next steps on their own. Tableau has been a leader in data discovery with its business discovery platform and has been featured as a leader in Gartner’s Magic Quadrant for Business Intelligence and Analytics Platforms for the last three years. Tableau’s in-memory computing technology is complementary to data discovery. It reduces the number of data transactions required while analyzing data by storing the entire database in random access memory which is more accessible to the processor. According to Markets and Markets, the n-memory technology market will increase from $2.2 billion in 2013 to $13.2 billion by 2018 due to decline in the cost of semiconductor technologies and rising need for real-time data analysis and managing voluminous databases.
Who is adopting visual analytics?
Visual analytics is being adopted by the world’s leading companies, universities and government agencies. From the world’s largest and most innovative organizations – Proctor & Gamble, Apple, Pfizer, Microsoft, Coca Cola, Google, Cornell University, Progressive Insurance, Amazon, Georgetown University, the VA (Veteran’s Administration), Blue Cross Blue Shield – to one-person consulting shops, visual analysis tools are now mainstream.
Eventually to have an overview of your data and get the meaningful insights visual analytics can be the best choice.