Edited by

Antonio De Pace

Data Analysis

How to Increase Your Revenue with Big Data and Analytics

Increase your turnover with big data & analytics

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Nowadays, most companies, from the smallest to the largest, have at their disposal a large amount of data, more or less structured, that are collected daily, both from management systems used to carry out business processes, and from platforms used to publish digital and social marketing campaigns.

In this context, the visualization and analysis of this data becomes extremely important in order to guide business decisions and strategies in a way that is immediate and easily understandable to all: in fact, data visualization allows you to:

  • Easily understand the data. Through the use of graphs and tables it is possible to both understand the trend of a given KPI (for example, turnover or margin), and to understand from which factors the analyzed results are determined.

  • Predict future trends. Closely related to the previous point, precisely this immediate possibility of tracing the causes of a given result, gives the tools to predict any critical issues or future opportunities.

  • Sharing data and driving decisions. A decision will be much more understandable within the business system if accompanied by elements of data visualization, thanks to the simplicity with which the human brain can process information represented graphically. In addition, it will be possible to immediately share the company's situation with the outside world.

But what are the elements that make a data visualization dashboard truly effective?

1) Define the goals and the people it is aimed at:

Before we start developing our dashboard it will be necessary, as in all projects, to answer some fundamental questions useful in planning an effective data visualization dashboard:

  • What KPIs do we want to display?
  • What context are we in?
  • What goals do we want to set for ourselves?
  • Which people do we want to show the dashboard to?
  • What is the purpose of the dashboard?

Through the answers to these questions we might begin to identify an initial outline, a starting point. to arrive at a complete result.

2) Ensure data correctness:

The first thing that needs to be ensured when we produce a dashboard is definitely that the data represented within it is correct.

We then need to identify where the necessary data is located and import it into the data visualization tools in the correct format. Another crucial step, especially when merging data from different sources (such as Google Analytics and our own internally produced data) is to ensure that the table merging process is done without distorting the actual data in any way.

3) Choose the right graphs for the data analyzed:

each type of graph can be more or less suitable depending on the type of data you want to show or the context in which you move. Here, a small recap on the main types:

  • Bar chart: the simplest chart of all but also, probably the most effective. In fact, it can be used in many cases, starting from the visualization of a trend up to a comparison in order to identify a benchmark.
  • Pie chart: this type of chart is very useful when you want to show the proportion to the total of a given population of data.
  • Linear chart: the most useful application of this type of chart is definitely the one in relation to the passage of time, since, even comparing several dimensions, they are very intuitive in displaying trends.
  • Tables: is the most effective way of displaying data when you want to go and analyze the information in more detail. However, you have to be careful not to put too much information in the table, otherwise you risk losing the intuitiveness and speed of visualization of the dashboard.

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4) Choose the right graphics and colors:

It is very important that the message we want to convey through the dashboard is supported by a choice of the right graphics and colors to effectively evince the meaning of the report.

Surely it must have a captivating graphics but light, that allows the user's eye to be guided in the reading. Another important point is that of the colors that must be chosen in a way consistent with the template used, but somehow support the understanding of the dashboard, for example, always choosing the same color to represent the same dimension or the same metric.

5) Find the right mix of past, present and future data analysis:

The data mix in this case must meet a number of requirements to provide a clear view of past trends, an insight into future possibilities and an overview of the current situation.

Having a balanced mix of data-driven insights will significantly improve your decision-making in a number of key areas, enabling your company to develop key initiatives that will drive the business forward and help you outperform the competition. In addition, most data visualization tools allow you to effectively manage dates, allowing you to focus your analysis on the time period you are interested in visualizing

6) Make the dashboard interactive:

One of the most revolutionary aspects of this type of tools is definitely their interactivity, as they allow, in a fluid way, to manipulate the dataset available at will. In fact, it will be possible to alternate and combine the dimensions and metrics that interest us most, for the period of time we want to analyze.

The goal of interactivityis to build dashboards that help you simplify analytical processes and make them more user-friendly, while at the same time providing immediate answers to questions. If your dashboard is interactive, you have a lot more options to keep your data simple but powerful, so this point is critical to consider if you want to build the best dashboard possible.

7) Make sure your dashboard is mobile-friendly:

When creating dashboard designs, you need to remember to optimize the end results for mobile devices.

Mobile dashboard design differs greatly from a larger screen like a desktop or tablet in that you have a much smaller space and different screen sizes, but professional dashboard tools will help you adjust desktop designs quickly and seamlessly.

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We, the team of **Fontoso,**consider the visualization of data very important for any type of company, both in the present and even more so in the future, because it makes the evaluation of your results over time easily explainable and usable by every element of the company.

In fact, modern platforms, such as Google Datastudio, allow an extreme simplicity of consultation of these dashboards, even to people less inclined to use innovative tools. For this reason we propose to build your dashboard, providing our knowledge of the data and the financial meaning of all the variables considered, making, with your help and your needs, the most powerful and useful tool to improve the performance of your business.

Examples of data visualization screens created with Google Datastudio:

Home page

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With such a screen, frequently set as the homepage of the dashboard, it is possible to give an introductory view of the main KPIs of the business.

This view is very useful for understanding, in broad strokes, the performance of the business for the time period under consideration.

#### Trend

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Through a visualization of this type it is possible to show the trend over time of a metric of your choice.

In this way it is possible to understand where the business started from and in which direction it is going, also having the possibility to understand certain **seasonality dynamics ** internal to the business.

Benchmark

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With graphs placed in this mode, it is intuitive to visualize the comparison between different areas of your business, or between different departments or production lines of your company.

It can be useful to understand which part of the company is doing better in which geographic area or population group your business is having less or more success.

Tables

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If, on the other hand, just displaying the data in graphs is not enough, it is possible to carry out detailed analyses using tables that can reach the highest level of detail.

At Fontoso, we recommend using this kind of visualization to analyze the various trends and comparisons identified visually in the other dashboards. In this way, we will be able to understand the causes that led to the occurrence of a certain event.

Conclusion

This is only a small part of the goals that can be achieved through the use of these business intelligence tools.

We at Fontoso are always ready to listen to the customer's needs in order to find together dedicated solutions to satisfy any kind of interest.

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