If a picture is worth a thousand words, one can imagine what the strategic use of good data visualization is worth in analytical toolsets. Data visualizations tell a more complete story in a dashboard than simply displaying raw data, so it’s important to use them effectively to support business objectives and data-driven decision making. Data visualizations should always simplify and clarify information, and be presented within the context of the user’s workflow, while avoiding confusing the viewer or leading to mistaken data interpretation.
Pandera’s Visual Sciences & Innovation team has released a whitepaper covering understanding the dashboard’s users, choosing the right visualization types, optimizing typography, and using colors strategically to tell a story through data. We’ve even included some examples of common dashboard design patterns to help you get started!
There is a phrase in my home that my teenagers hear all too often…”don’t be a sheep”. Personally, I fully support free-range kids and try to raise them to be capable of vast independent thought, revolutionary ideas and leading the next generation into a higher level of understanding. I want them to be unicorns reaching beyond their perceived limits and understand how extraordinary they are and not blindly follow the pack. Yet, their response is almost always “can I go hang out with my friends now?” along with a series of eye rolls.
It doesn’t matter if we are discussing children, ourselves, or the companies that employ us, we all want to be seen as unique, yet fit in with the pack. I am frequently asked “what do you see others doing in this space” or “how different are we than others you have worked with”. The reality is, each industry has very similar key performance metrics to measure operational, financial, and regulatory compliance. So if we are all measuring the same things, how do we turn ourselves from sheep into unicorns?
In the first article in the series, “Any Fool Can Know. The Point is to Understand” we discussed how utilizing an Information Centric Approach can improve decision making capabilities. Now we will discuss how information presentation design fosters insight.
Many companies’ BI solution design still feature a very hierarchical, structured information presentation, which can disrupt people’s natural analytical methodology and hinder their path to insight. Rethinking the display methodology, to both prioritize the information, and to emphasize issue identification, validation and investigation significantly improves overall usability, and retained knowledge. This need to focus is further magnified, as users increasingly access and consume this information on mobile devices.
A mature, fully functional BI system is able to apply analytics to transform large amounts of data into information, providing insight and spawning action. As a Retail Practice Advisor, I have had the opportunity to work with a number of companies at different points along their BI maturity lifecycle, and have seen many struggle with efficiently transforming information into knowledge.
“Before jumping right into solving a problem, we should step back and invest time and effort to improve our understanding of it.”
- Albert Einstein
Pandera Advisory Services is committed to providing industry expertise and a proven collaborative approach to successful execution of our client’s initiatives. Primed with years of industry acumen and successful technology implementations, the Pandera Advisory team enables the execution of strategic solutions focused on operational process improvement while managing cost, scalability and usability.
Pandera Practice Advisors enable the delivery of complex and multifaceted solutions in today’s intricate business environment requiring innovative integration strategies that understand the ongoing interplay between business and an ever evolving technical environment. Understanding your business while mitigating regulatory and compliance constraints, shifting business priorities and strong political cultures, our advisor team brings the right mix of industry insight, technical expertise and user adoption strategies to position organizations to remain agile in a world of ever changing needs.
As a platinum-level sponsor at MicroStrategy World, Pandera is recognized as an innovator in the business intelligence community for leading the way in proven new developments and trends that continue to re-shape the way businesses interact with data.
With that focus on innovation and our constant commitment to the evolution of business intelligence in mind, we’re excited to announce the topic of our featured keynote session at MicroStrategy World, presented by Ryan Redmann: Build the Brain For Your Business: Simple Steps Toward Systems That Think.
Projects can fail in your organization more frequently than you would like to think or admit. There can be many factors leading to project failure, but there are a few recurring reasons in almost every project that leads to failure. These common pain points can originate from the start of a project and should be considered red flags.
Like they always say, nobody parties like a BI professional. This year, Pandera is hosting MicroStrategy World’s hottest private party at ICON, South Beach’s most anticipated new nightclub. Once again, we’ve brought in live after-hours entertainment to help you wind down after the conference and enjoy Miami’s nightlife. Join the party and be prepared to rock the night away with a live band, DJ, dancers, red carpet photography, and of course, an open bar.
Delivering actionable information to improve decision making capabilities, should be an implicit and fundamental goal of any Business Intelligence initiative. In my role as Retail Practice Advisor, I have seen many companies fall well short of this goal, largely due to their underlying approach.
Companies need to consider, and approach, BI as an enabling technology and seek to integrate all available data and develop the relevant analytics, unfettered by their existing reporting portfolio. Utilizing an information centric approach to guide the design, measurements and solution architecture enables quantum advances in business insight and analytic capabilities.
We are excited to be a MicroStrategy World Platinum Partner again for 2016. Pandera is looking forward to sharing our latest developments and new trends that will continue to re-shape the way businesses interact with data. Traditional BI often leads to more questions than answers, so Pandera is leading the way in developing intelligent business solutions that use algorithmic process automation, applied statistics, and user-oriented design to generate actionable insights at a depth, frequency, scale, and accuracy that is impossible with human-driven analysis. We’re looking forward to telling you all about it at MicroStrategy World, booth #100, and at our featured speaking track: Track 6, Session 2 – Tuesday at 2:15pm.
This video is a quick introduction to using Visual Insight to build grids in your MicroStrategy v10 dashboards. Check it out, share it with your end users, and keep an eye out for what’s to come from Pandera Training in 2016! And if you want to see this kind of video with your own data, or if you have any questions and want to learn more, send us a message!
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