The year 2020 proves who is really agile.
It was a 9 month-long sprint to the rapid cloud adoption. Most of the winners in the first wave of COVID-19 are from the IT industry and consumer discretionary, which means vast cloud technologies investments.
Consequently, this trend breeds new bulks of data that yells to tell you a story! The top communication skill is the ability to reveal insights from the data.
How does Business Intelligence look like in 2021? What is the future of data visualization?
I created a list of top 6 trends in data visualization that will impact the business. Take them for granted to improve productivity in the new normal 2021.
Until 2025 data storytelling will be the most common method to consume data analytics. Gartner predicts that augmented analytics will generate up to 75% of the data stories within a few years.
Next-gen data analytics
We are lucky to live in an era where we do less repetitive tasks and spend more time interpreting the data. We take as given real-time and up-to-the-minute recommendations generated automagically. BI is closely linked to AI (mainly artificial narrow intelligence).
Innovation in data visualization market supports understanding of your data without any effort. The answer is in the plate thanks to many shortcuts such as NLP, predictive planning and machine-learning-based reports.
Still, the most viral content is data-driven infographics and stories. Data literacy and data viz have gone to the mainstream. The pandemics prove the usability of the data viz across the world.
By effective storytelling with data, you gain a competitive advantage. Data-driven presentations and data-proofed facts build trust among customers.
How can you apply storytelling to your business on a daily basis?
- Add stats to your website, to grow a more reliable business
- Add gamification to your app to get your users more loyal
- Add interactive visuals to your article to make your content more viral. South China Morning Post, New York Times, Washington Post are good examples.
Data literacy in the virtual way of working
The new WoW has come. Remote first. We are all working in the cloud from anywhere and anytime. Facing a virtual work environment for many industries is a new challenge. Self-sufficient data viz makes your work smarter.
According to the Wharton School of Business study, data visualization might shorten meetings by 24% (!). You gain efficient online meetings unless you possess data literacy skills fluently.
Duarte has researched how critical are communication skills in a new age of virtual meetings. Clear and straightforward data presentation is essential to improve communication within a team.
Graph databases are the next long-term trend in data visualization and data analytics. Network graphs let you digest complex relations between users, their interaction with others and other devices.
Until 2022 public cloud services will be the core environment for the majority of AI solutions. Innovations in data analytics drive cloud-based AI.
In particular, graph databases and AI make a mixture of ad hoc insights. AI will interpret to you the connections between objects.
Virtualitics is a hot trend about data viz and AR/VR. 3D data visualization was not very successful several years ago. The reason is behind the cognitive psychology. The human brain perceives objects faster in 2D.
VR TAM estimation is $209bn by 2022. What will be the piece of it for data visualization and analytics? With 5G technology potential, we can use AR simulations to make better-informed decisions in real-time.
It’s true: data visualization is a vital part of your entire data analytics strategy. All trends lead to one resolution:
- quick access to insights
- high data volume consumption
- engaging and easy-to-remember stories with data
You guarantee a business growth if you make better-informed decisions. Data is a valuable asset that shall yield a return.
All the above trends are at your fingertips. Each company can effort the use of them when they choose a sustainable IT tool.
How do you benefit from data visualization in your business? Set up a 30 minutes call with me to brainstorm how to reveal a real potential from your data!
Tell me your story. I turn it to the story for data-driven actions.