Visual Analytics

Do you have any personal/professional experience with visual analytics? Do you think visual analytics can help with different KPI measurement/management – why?

I have personal experience with visual analytics, like dashboards that display graphical and pictorial patterns from data. Visual analytics, which entails synthesizing information from a large pool of data and displaying it in a manner that anyone can understand the patterns, can be beneficial to KPI management as it is bound to enhance the whole process of resource allocation and management by leveraging various data analytics tools.

Finance is a vital aspect of an organization’s health; visual analytics can integrate financial information through financial dashboards. Data analytics tools analyze data from different parts of a financial system to produce results based on data generated over some time to give an accurate financial position of an organization; financial KPIs may generate information like costs of goods/services, gross profit margin, and the working capital.

According to Kinsey (2018), customers are an integral part of organizational continuity, and it’s essential to attract and retain them. Customer service dashboards can be used to gauge customer satisfaction as well as maintain excellent interaction with customers to create proper service delivery. Customer services KPI dashboards may contain information such as warranty claims and percentage levels of complaints.

Human resource dashboards can be utilized by an organization to track employee welfare since an organization always aims at retaining its workforce. Through visual analytics, production levels of employees and employee job satisfaction metrics can be uncovered. These quantities can be used to make data-driven decisions about an employee’s welfare.

Manufacturing is often a complex process that requires constant optimization of different elements of the whole process. Real-time analysis of manufacturing stages is vital in ensuring that quality products are produced efficiently and economically. Visual analytics in a manufacturing dashboard can have production rate KPI and operator productivity KPI.

Growing levels of big data enable data-intensive businesses like e-commerce to analyze customer data using dashboards. From this, they can access KPIs like the Average amount of money spent on a basket of goods.

Data analytics is central to the growth of any business due to the large volumes of data continually produced; therefore, it is intelligent for an organization to track performance using visual analytics, for instance, dashboards.

References

Kinsey, S. (2018). 8 Inspirational KPI Dashboards for performance tracking. Retrieved 6 May 2021, from https://www.simplekpi.com/Blog/8-Inspirational-KPI-Dashboards-for-performance-tracking

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