Data visualization, or data viz, continues to grow across professional fields as organizations map their data in ways that people can observe and act on. The practice identifies trends and other measurables while making complex data easier to understand for everyone.
When working with the massive amounts of data companies produce every day, visual breakdowns are essential for analysis. As the list of applications for data viz grows, all organizations need the tools to visualize their data effectively, as well as professionals who can leverage those tools competently.
The online Master of Accountancy (MAcc) Data Analytics/Data Visualization Track program from Northern Kentucky University (NKU) prepares graduates for the demands of data visualization in any accounting work setting. Students earn a specialized degree and develop the skills needed to deliver leading-edge data visuals and insights. The following represent a few of the many data viz trends today’s tech-savvy accounting professionals must understand.
Artificial Intelligence and Machine Learning
Companies strive to collect as much data as possible. The more information they have, the more informed their decisions can be. Sorting out that raw data accurately and efficiently, however, proves difficult for human tabulators working at scale.
That’s where artificial intelligence (AI) and machine learning enter the picture. AI parses massive amounts of collected data, helping companies identify what to examine and extract meaningful insights. This machine-driven approach is especially valuable when analyzing data on topics like customer feedback, where negative responses can introduce bias in human tabulators.
Social-Friendly Data Visualization
Data viz tools can be effective marketing resources for companies as well. The concise, efficient messaging of data viz makes it a natural fit for the rapid scrolling of social media users.
Given the traffic that social media networks drive to websites, more companies look to take advantage of compelling visuals as a primary messaging method. Data viz specialists who can translate data into powerful, persuasive content on social media help to prevent customer churn and attract new customers.
Video and Storytelling Visualizations
Data viz presentations don’t have to use static graphics. Many data visualization professionals tap into the learning power of video-driven data viz, often employing data storytelling techniques.
Compared to still images, video is a more effective learning mechanism for many audiences. Representing changes in data over time paints a more thorough picture for viewers, as data viz strategies convey the rate of change and other time-based elements that static pictures cannot. Data viz specialists can combine and overlay different data sets in video form to demonstrate relationships and create a fuller narrative that explains the meaning of that data.
Data Visualization in Real-Time
Data isn’t as useful if it arrives too long after a problem occurred. Companies ideally address issues immediately as they happen or take preventative measures before they do.
Real-time data visualization makes this possible. As the Journal of Accountancy notes, data analytics and visualization tools enable professionals to quickly identify key points in large data sets and illustrate findings tp support faster, better-informed decisions. Real-time data viz takes measurements as they happen and displays them so workers can make adjustments as events occur.
Building a Career in Data Visualization
Data visualization skills now rank among the most sought-after competencies in accounting and finance. Professionals who combine analytical ability with the capacity to communicate data clearly hold a distinct advantage in the job market.
NKU’s online MAcc Data Analytics/Data Visualization Track program builds exactly those skills. Graduates leave prepared for CPA certification and the data-driven demands of modern accounting roles, from financial management to forensic accounting and beyond.
Learn more about Northern Kentucky University’s online Master of Accountancy Data Analytics/Data Visualization Track program.
