In today’s world, analysis is no longer done by looking at rows and columns of bland information, nor studying endless reports containing vast amounts of figures. The new norm is storytelling through data visualization, gone are the days of studying vast amounts of data which slows decision making.
Business Intelligence is becoming more about communicating the right data to the right people at the right time in a way that is easy to understand and analyze. It’s not about gathering as much data as possible anymore. Data visualization plays a major part in the process of making better informed decisions without having in-depth knowledge on the data.
Traditionally financial services companies made use of data visualization by drawing up figures and charts. Decision makers within the industry are constantly exploring new ways of getting their data presented in a more engaging and clear manner. Modern visualization tools such as dynamic dashboards and flash visualizations are gaining popularity.
An excellent way to judge whether an organization’s data visualization is adding value is to review the combination of design, ease of interpretation and the quality of data shown. Through this combination, certain data and statistics can be really put to use in future strategic decision making.
When we consider that people prefer visual learning (see link), it makes strategic sense to facilitate the move towards data visualization. Business Intelligence can be used to reimagine how KPIs, data trends and financial flows are represented in an easy to interpret manner that allows for fast decision making. Combining data across services allows your organization to make the best-informed decisions by taking all aspects of your business into account and ensuring you have all relevant data at your fingertips, in a compelling and easy to interpret manner.
LeadingMile’s Business Intelligence and Data Visualization services are able to explore and analyze financial services data in a precise way. In our view, Business Intelligence is no longer just a way to gather data and making it accessible, it is crucial to several aspects of business. Taking the time to set up a robust data visualization strategy can make the difference between maintaining your business, and growing/expanding your business. By providing clients with different forms of data visualization we are able to deliver new perspectives which empower clients to make decisions based on crucial information that was previously unknown.
Would you like to find out how we can help your organization tell better stories? We have a team of highly skilled individuals with knowledge and experience in-house, including best practice BI tools such as Qlik, Tableau, SSRS, MetaBase and PowerBI. Contact us now to see how we can empower your organization to achieve progress and growth.