The use of data visualization (or data viz) has exploded during the last decade, as professionals across all fields have taken an interest in mapping out their data in a way that people can observe. The practice can be extremely helpful in identifying trends and other measurables, as well as making complicated data easier to understand for everyone. When working with the massive amounts of data produced by companies every day, these kinds of visual breakdowns are essential for analysis.
As the list of uses for data viz grows longer, all companies should equip themselves with the tools to effectively visualize their own data and use shifts in this developing field to their advantage. Given the size and rate of growth in data visualization, experts in the field are often highly sought after for important roles. As data viz company Tableau notes, “Every STEM field benefits from understanding data — and so do fields in government, finance, marketing, history, consumer goods, service industries, education, sports, and so on.”
Programs like the online Master of Accountancy in Data Analytics/Data Visualization from Northern Kentucky University (NKU) prepare graduates for the necessary certification programs and demands of data visualization in any accounting work setting. Students will gain a specialized degree and develop the skills and knowledge required to deliver robust, leading-edge data visuals and insights.
The following are some of the major trends in data visualization today that students will also encounter in their courses and curricula at NKU.
Artificial Intelligence and Machine Learning
Companies strive to collect as much data as possible since the more information they have, the more informed their decisions can be. But, as the MonkeyLearn blog explains, “humans are just as bad at accurately sorting raw data as they are at processing it.” That’s where artificial intelligence and machine learning enter the picture.
AI parses the massive amounts of data collected and sorts them, helping companies discover what data to look at and derive meaningful takeaways. This kind of unbiased, machine-driven approach can be beneficial when looking at data on topics like customer feedback, where negative responses can produce or elicit bias in human tabulators.
Social-Friendly Data Visualization
Data viz tools can be effective marketing resources for companies as well. In fact, the concise, efficient messaging of data viz actually makes it an ideal fit for the short attention spans of social media users.
Given the huge amount of traffic that social media networks drive to websites, more companies are looking to take advantage of that, and compelling visuals are among the primary methods of doing so. Data viz specialists who can parlay 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 are beginning to tap into the learning power of video-driven data viz, often employing storytelling-type techniques as well.
Compared to motionless photos, video has shown itself to be a more effective learning mechanism for many. Representing different changes in data over time can paint a more thorough picture for viewers than pictures alone, as data viz strategies can convey rate of change and other time-based elements that motionless pictures cannot. Data viz specialists can combine and overlay different sets of data videos in order to demonstrate relationships between them and create a fuller narrative to explain the meaning of that data.
Data Visualization in Real-Time
Data isn’t as useful if it’s arriving after a problem has already occurred. It’s not useless, obviously, but companies would ideally be able to address issues immediately as they occur — or even take preventative measures.
Real-time data visualization helps accomplish this, as it takes measurements as they happen and displays them so workers can make adjustments as events occur.
Learn more about Northern Kentucky University’s Master of Accountancy Data Analytics/Data Visualization Track online program.
