How important is visual information in your business?

IBA Group
Mark Hillary

How important is visual information in your business? What do you think of as visual anyway – a chart on Excel or some other reporting system?
The most recent funding round for Pinterest boosted its valuation to around $3.8bn, which sounds like a lot of money for something that just looks like a visual scrapbook on the web.

When Mark Zuckerberg of Facebook bought Instagram in 2012 for $1bn many commentators thought that it was outrageous – Facebook had overpaid for a phone based photo-sharing service that didn’t even have a website.

Facebook eclipsed that deal recently when they purchased Whatsapp for $19bn. Whatsapp is a text messaging tool that is popular all over the world, but particularly in fast-growing developing nations such as India and Brazil. But what is really different about Whatsapp is that it allows easy photo and video sharing – it is not just a tool for texting, it offers a complete visual experience too.

Take a look around the Internet. It is becoming more visual. Many bloggers are choosing to just create a video instead, or to create a blog that only contains photographs.

Photo network, such as Flickr, offer free space to users that measures in the terabyte – unthinkable amounts of space just a few years ago, yet now it’s almost essential because the Internet is becoming more visual and more focused on mobile devices as the tool that is used to consume content.
This means that companies using the Internet need to consider how their own information can be reflected. How do you publish corporate reports and information when the trend for information use is becoming more visual?

Consumers are getting used to ‘reading’ Instagram and Pinterest in the same way they used to read the newspaper and this is affecting corporate life. A manager today will not want to read a dense report packed with numbers. Visual information has always been useful, but now it’s essential if you want to convey a message within your organisation.

Visual reporting

IBA Group
Kirill Degtiarenko

We live in the era of Big Data. These days everyone is overwhelmed with information. There’s no time to read and analyze the data that come to us from different sources. This is where data visualization can help.

According to Visual Teaching Alliance, “it is hard to argue with the observation that the generation of students now moving into and through our educational system is by far the most visually stimulated generation… In fact, research shows that 65% of our students are visual learners.”

They say a picture is worth a thousand words and we see how images today seize the online content. People and companies document their lives with photos. The web is turning into a visual landscape.

Data visualization is already mainstream. As a result of visual presentation, complicated and potentially dull information becomes easily understandable and comprehensible.

The BI market is also shifting, from tables and spreadsheets to diagrams and infographics. It is inherent to a human being to perceive visual images quicker than plain text or numbers. We “read” graphical information several times quicker than data in a spreadsheet. The user can see the key data at a glance and therefore make efficient analysis and a grounded decision.

Clarity and ease of grasp make a report efficient. Based on visualized data, it is possible to make a timely and grounded management decision. High quality visualization enables managers to achieve good business results.

A report title should be also catching and reflect the essence of the report in a clear and concise form. Diagrams serve as a good tool for data visualization. Color serves to highlight certain details and make selected data easy to remember.

The following is an example of how a complicated spreadsheet turns into a visual report.

Spreadsheet Visual report1 Visual report 2