|By Saar Bitner||
|May 5, 2014 09:45 AM EDT||
You've heard the great promise of business intelligence: data visualization will completely change the way you think about your business. We strive for those life-altering "aha" moments that completely shift the way we think, and help move us forward in a way we just couldn't before due to a lack of knowledge, clarity or inspiration. But how can data visualization promise to give us more of those moments?
Data visualization, the graphical representation of data and information, can help you discover trends, patterns and correlations in your businesses that might otherwise go unseen. It makes meaningful insights easier to spot, epiphanies more common to come by, and helps you create a business story that you can use as a springboard for smart change and success.
Seeing with Kaleidoscope Eyes
Taking large amounts of data and putting it into a business analysis system is like taking a measuring stick to your business - you will start seeing with clearer, richer eyes, simplifying otherwise complex data, mapping correlations, and detecting trends. Organizing your data visually this way will give you an overall picture of your business procedures and let you drill down into specific areas of interest to explore deeper. Data visualization comes with core benefits that will help tell a story about your business:
- Gain a business strategy based on numbers. Track sales, number of units sold, followers, site visits and compare data week over week, or quarter by quarter (see Example 1).
- Insight into your target market. Analyze your customer's survey data, website behavior, or demographics to glean who they are, their occupations, gender, location, hours of activity, etc. (see Example 2).
- Make users a part of your story. By helping users understand the benefit of your solution, you encourage them to tell you what they need most from your business (see Example 3).
- Know what's trendy. Detect and capitalize on trends and outliers that you can't readily identify in spreadsheets to pinpoint what's influencing business success or failure.
Real People, Real "Aha Moments"
The list of core benefits that helps businesses build a story is general, but here are some specific examples of companies that used data visualization to tell a story - or understand their story - thereby transforming what they do and how they do it.
Example 1: Know Your Numbers from Every Angle
Alpharooms.com is one of the UK and Ireland's leading websites for discount worldwide travel with one million annual customers accessing hotel rooms in more than 250,000 hotels in 40,000 destinations worldwide. The company needed to track web behaviors, email marketing activity, booking patterns, and their finances - and he needed it in real time to be able to change prices and availability as quick as possible to maximize their services. Alpharooms.com uses a dashboard visualization software to build reports and dashboards that analyze booking activity from every angle. With efficient reporting around each type of booking (hotel, flight, car, etc.), they can now directly approach hotels for which they have enough bookings to avoid the extra cost of going through wholesalers.
Other uses of the software include analyzing website usage patterns, optimizing email marketing campaign performance, optimizing purchasing strategies, tracking call center performance and conversions by rep and running reports on all customer activity by search keywords, travel destination, common packages and so forth.
Example 2: See Where Your Target Audience Lives. Literally
The New York Times has jumped on board with data visualization and created an interactive, incredibly thorough census maps that shows the demographics of every block and city in America based on race and ethnicity, income, education, and housing and families. Plug in your business and these demographics let you truly know your market segment so you can build the best business plan possible.
Discover if a target population is wealthy enough or educated enough to be interested in your product (or just the opposite) before you move forward. By researching and understanding the demographics of a particular population, business owners can successfully establish a business model and plan, expand a product line, or outcompete their competitors.
Example 3: Encourage Users to Visualize Themselves as Part of Your Story
Just through data visualization you can enable users to envision themselves as part of your story and thereby show you how they best fit with your product - telling you their own story about your company as they go. The BCG and World Economic Forum encouraged users to estimate the value of a specific solution to their business - instituting an employee wellness program - via an interactive graph. Executives could quickly calculate how much their specific companies could save by investing in such an employee wellness program (based on the statistical data of other companies' wellness programs).
By letting prospective customers determine the economic benefits they could harvest if they instituted the program, these companies literally saw themselves as a part of the story that the BCG and World Economic Forum were trying to push. Those who bought based on participating in the interactive graph in turn gave BCG and World Economic Forum information about their users and became an invaluable sales tool for the business. It was such a great success that another partner company also uses this graph as a sales tool for visualizing similar saving opportunities.
Collaboration Always Means a Better, Richer Story
Sharing your data visualization, which many dashboard visualization tools make easy via web-based dashboards, allows your colleagues or audience to fill in details or even add their own narrative. Every department in a company can build upon the data visualization story by contributing data or drilling down into a specific segment and highlighting an aspect that is unique to them. In this way, interactive graphics encourage people to participate in the storytelling by adding layers of data and insights - giving your BI tale the ability to view data from different perspectives for a richer understanding of your business.
The Future of Data Visualization: Reaching What No One Knows
We're already at a place where we can use data visualization to make people understand what they didn't understand. The next step seems to be to allow people to understand what no one has understood before. When Pek Lum, a researcher at Merck & Co., took The Netherlands Cancer Institute's 12-year-old data set on breast cancer and visualized the dataset with the use of topological data analysis, she was able to identify an unknown subgroup of cancer survivors - a small step forward to finding a cure for cancer.
Together with the massive amount of data accessible (and accumulating), the collaboration of many individuals who have different goals and backgrounds, and advanced business intelligence and dashboard software tools available on the market today - people are starting to uncover insights that no one could reach before.
From telemedicine to smart cars, digital homes and industrial monitoring, the explosive growth of IoT has created exciting new business opportunities for real time calls and messaging. In his session at @ThingsExpo, Ivelin Ivanov, CEO and Co-Founder of Telestax, shared some of the new revenue sources that IoT created for Restcomm – the open source telephony platform from Telestax. Ivelin Ivanov is a technology entrepreneur who founded Mobicents, an Open Source VoIP Platform, to help create, deploy, and manage applications integrating voice, video and data. He is the co-founder of TeleStax, a...
May. 22, 2015 04:00 AM EDT Reads: 6,171
The Internet of Things (IoT) promises to evolve the way the world does business; however, understanding how to apply it to your company can be a mystery. Most people struggle with understanding the potential business uses or tend to get caught up in the technology, resulting in solutions that fail to meet even minimum business goals. In his session at @ThingsExpo, Jesse Shiah, CEO / President / Co-Founder of AgilePoint Inc., showed what is needed to leverage the IoT to transform your business. He discussed opportunities and challenges ahead for the IoT from a market and technical point of vie...
May. 22, 2015 04:00 AM EDT Reads: 6,575
Sensor-enabled things are becoming more commonplace, precursors to a larger and more complex framework that most consider the ultimate promise of the IoT: things connecting, interacting, sharing, storing, and over time perhaps learning and predicting based on habits, behaviors, location, preferences, purchases and more. In his session at @ThingsExpo, Tom Wesselman, Director of Communications Ecosystem Architecture at Plantronics, will examine the still nascent IoT as it is coalescing, including what it is today, what it might ultimately be, the role of wearable tech, and technology gaps stil...
May. 22, 2015 04:00 AM EDT Reads: 4,237
Grow your business with enterprise wearable apps using SAP Platforms and Google Glass. SAP and Google just launched the SAP and Google Glass Challenge, an opportunity for you to innovate and develop the best Enterprise Wearable App using SAP Platforms and Google Glass and gain valuable market exposure. In his session at @ThingsExpo, Brian McPhail, Senior Director of Business Development, ISVs & Digital Commerce at SAP, outlined the timeline of the SAP Google Glass Challenge and the opportunity for developers, start-ups, and companies of all sizes to engage with SAP today.
May. 22, 2015 03:00 AM EDT Reads: 4,848
DevOps tends to focus on the relationship between Dev and Ops, putting an emphasis on the ops and application infrastructure. But that’s changing with microservices architectures. In her session at DevOps Summit, Lori MacVittie, Evangelist for F5 Networks, will focus on how microservices are changing the underlying architectures needed to scale, secure and deliver applications based on highly distributed (micro) services and why that means an expansion into “the network” for DevOps.
May. 22, 2015 03:00 AM EDT Reads: 2,795
We’re no longer looking to the future for the IoT wave. It’s no longer a distant dream but a reality that has arrived. It’s now time to make sure the industry is in alignment to meet the IoT growing pains – cooperate and collaborate as well as innovate. In his session at @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, will examine the key ingredients to IoT success and identify solutions to challenges the industry is facing. The deep industry expertise behind this presentation will provide attendees with a leading edge view of rapidly emerging IoT oppor...
May. 22, 2015 02:30 AM EDT Reads: 4,794
The 3rd International @ThingsExpo, co-located with the 16th International Cloud Expo – to be held June 9-11, 2015, at the Javits Center in New York City, NY – is now accepting Hackathon proposals. Hackathon sponsorship benefits include general brand exposure and increasing engagement with the developer ecosystem. At Cloud Expo 2014 Silicon Valley, IBM held the Bluemix Developer Playground on November 5 and ElasticBox held the DevOps Hackathon on November 6. Both events took place on the expo floor. The Bluemix Developer Playground, for developers of all levels, highlighted the ease of use of...
May. 22, 2015 02:30 AM EDT Reads: 4,190
For years, we’ve relied too heavily on individual network functions or simplistic cloud controllers. However, they are no longer enough for today’s modern cloud data center. Businesses need a comprehensive platform architecture in order to deliver a complete networking suite for IoT environment based on OpenStack. In his session at @ThingsExpo, Dhiraj Sehgal from PLUMgrid will discuss what a holistic networking solution should really entail, and how to build a complete platform that is scalable, secure, agile and automated.
May. 22, 2015 02:00 AM EDT Reads: 4,172
SYS-CON Events announced today that Gridstore™, the leader in hyper-converged infrastructure purpose-built to optimize Microsoft workloads, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Gridstore™ is the leader in hyper-converged infrastructure purpose-built for Microsoft workloads and designed to accelerate applications in virtualized environments. Gridstore’s hyper-converged infrastructure is the industry’s first all flash version of HyperConverged Appliances that include both compute and storag...
May. 22, 2015 01:15 AM EDT Reads: 6,115
The industrial software market has treated data with the mentality of “collect everything now, worry about how to use it later.” We now find ourselves buried in data, with the pervasive connectivity of the (Industrial) Internet of Things only piling on more numbers. There’s too much data and not enough information. In his session at @ThingsExpo, Bob Gates, Global Marketing Director, GE’s Intelligent Platforms business, to discuss how realizing the power of IoT, software developers are now focused on understanding how industrial data can create intelligence for industrial operations. Imagine ...
May. 22, 2015 01:00 AM EDT Reads: 5,067
Hadoop as a Service (as offered by handful of niche vendors now) is a cloud computing solution that makes medium and large-scale data processing accessible, easy, fast and inexpensive. In his session at Big Data Expo, Kumar Ramamurthy, Vice President and Chief Technologist, EIM & Big Data, at Virtusa, will discuss how this is achieved by eliminating the operational challenges of running Hadoop, so one can focus on business growth. The fragmented Hadoop distribution world and various PaaS solutions that provide a Hadoop flavor either make choices for customers very flexible in the name of opti...
May. 22, 2015 12:30 AM EDT Reads: 3,618
In the consumer IoT, everything is new, and the IT world of bits and bytes holds sway. But industrial and commercial realms encompass operational technology (OT) that has been around for 25 or 50 years. This grittier, pre-IP, more hands-on world has much to gain from Industrial IoT (IIoT) applications and principles. But adding sensors and wireless connectivity won’t work in environments that demand unwavering reliability and performance. In his session at @ThingsExpo, Ron Sege, CEO of Echelon, will discuss how as enterprise IT embraces other IoT-related technology trends, enterprises with i...
May. 22, 2015 12:00 AM EDT Reads: 4,137
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal an...
May. 21, 2015 11:30 PM EDT Reads: 2,465
Cultural, regulatory, environmental, political and economic (CREPE) conditions over the past decade are creating cross-industry solution spaces that require processes and technologies from both the Internet of Things (IoT), and Data Management and Analytics (DMA). These solution spaces are evolving into Sensor Analytics Ecosystems (SAE) that represent significant new opportunities for organizations of all types. Public Utilities throughout the world, providing electricity, natural gas and water, are pursuing SmartGrid initiatives that represent one of the more mature examples of SAE. We have s...
May. 21, 2015 11:00 PM EDT Reads: 5,917
All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo, June 9-11, 2015, at the Javits Center in New York City. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be
May. 21, 2015 10:30 PM EDT Reads: 1,750
The Internet of Things will put IT to its ultimate test by creating infinite new opportunities to digitize products and services, generate and analyze new data to improve customer satisfaction, and discover new ways to gain a competitive advantage across nearly every industry. In order to help corporate business units to capitalize on the rapidly evolving IoT opportunities, IT must stand up to a new set of challenges. In his session at @ThingsExpo, Jeff Kaplan, Managing Director of THINKstrategies, will examine why IT must finally fulfill its role in support of its SBUs or face a new round of...
May. 21, 2015 10:00 PM EDT Reads: 5,274
Wearable devices have come of age. The primary applications of wearables so far have been "the Quantified Self" or the tracking of one's fitness and health status. We propose the evolution of wearables into social and emotional communication devices. Our BE(tm) sensor uses light to visualize the skin conductance response. Our sensors are very inexpensive and can be massively distributed to audiences or groups of any size, in order to gauge reactions to performances, video, or any kind of presentation. In her session at @ThingsExpo, Jocelyn Scheirer, CEO & Founder of Bionolux, will discuss ho...
May. 21, 2015 09:00 PM EDT Reads: 5,017
The true value of the Internet of Things (IoT) lies not just in the data, but through the services that protect the data, perform the analysis and present findings in a usable way. With many IoT elements rooted in traditional IT components, Big Data and IoT isn’t just a play for enterprise. In fact, the IoT presents SMBs with the prospect of launching entirely new activities and exploring innovative areas. CompTIA research identifies several areas where IoT is expected to have the greatest impact.
May. 21, 2015 09:00 PM EDT Reads: 4,687
Can call centers hang up the phones for good? Intuitive Solutions did. WebRTC enabled this contact center provider to eliminate antiquated telephony and desktop phone infrastructure with a pure web-based solution, allowing them to expand beyond brick-and-mortar confines to a home-based agent model. It also ensured scalability and better service for customers, including MUY! Companies, one of the country's largest franchise restaurant companies with 232 Pizza Hut locations. This is one example of WebRTC adoption today, but the potential is limitless when powered by IoT.
May. 21, 2015 09:00 PM EDT Reads: 6,332
One of the biggest challenges when developing connected devices is identifying user value and delivering it through successful user experiences. In his session at Internet of @ThingsExpo, Mike Kuniavsky, Principal Scientist, Innovation Services at PARC, described an IoT-specific approach to user experience design that combines approaches from interaction design, industrial design and service design to create experiences that go beyond simple connected gadgets to create lasting, multi-device experiences grounded in people's real needs and desires.
May. 21, 2015 09:00 PM EDT Reads: 5,929