Data Visualization Saves Time

Data Visualization Saves Time | The TIBCO Blog
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Data Visualization Saves Time

09 October 2013 by Steve Leung in Analytics Cloud - 5 Comments
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This is Part 2 of a series on analytics which will appear each Wednesdayon The TIBCO blog. You can read Part 1, Isolate Problems and Use Analytics to Solve Them ,here.
No matter your role within an organization, whether it be analytics, product manager, or leader, lets face it: Excel-based bar charts arent terribly compelling. If you rely on Excel reports to evaluate current customer trends, operating conditions, or business performance, they simply dont provide much insight into why something happened (e.g., customer satisfaction dropped five points in the Pacific Northwest last month). Dont Let Reports Become One-Dimensional While boring Excel spreadsheets do little to stoke the imagination, there are other shortcomings to using stale BI reports. Namely, theyre a drain on productivity. Lets say a team of airline executives is trying to identify more effective ways to improve fleet utilization. An Excel report might inform the executives of the airlines current utilization rates. It might even demonstrate how the utilization rates have changed month to month.However, its unlikely to provide them with any meaningful insights as to why utilization rates have changed or the opportunities to improve upon the deployment of aircraft between different cities and hubs. This is one of the reasons why more companies are turning to the use of cloud-based analytics, which offer rich data visualization capabilities. Humans are visual creaturesresearch has shown that people think more efficiently when data is presented visually. For instance, a study conducted by Mindlab International at The Sussex Innovation Center evaluated how office workers manage and analyze data using traditional software and the resulting effectiveness. The research reveals that when data is displayed more visuallysuch as through the use of visual maps and other illustrative techniquesemployees are 17% more productive. Visualization Tools Empower Everyone One of the strengths of cloud-based visualization tools is that they enable users to conjure fresh ways of looking at real-time data that can trigger new approaches to problem solving. For example, one of the benefits of data visualization techniques is how it promotes pattern matching. A retail store manager can use data visualization methods to identify not only how a growing percentage of customers are defecting to other stores, but the reasons why theyre jumping ship. In todays fast-paced business environment, knowledge workers dont have the time to wait for IT to generate BI reports that might be outdated by the time they hit their desks. Self-service data visualization tools can benefit both decision makers and analysts by enabling them to visualize information, and spot emerging business and operational trends faster.For instance, real-time data visualization capabilities can aid a marketing analyst for a beverage company who is under pressure from his boss to identify the companys window of opportunity for launching a new product.
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Visual analytics can enable marketing analysts to see how much time the company has to enjoy time-to-market advantages before one or more competitors are likely to enter the market. Meanwhile, a cloud-based offering facilitates collaboration between work teams, enabling multiple stakeholders to view, interact with, and drill down on the same data together, and collaborate on insights and actions that can be taken. Try Spotfire Cloud now for 30 days and see how this impacts your business.
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Steve Leung
Steve Leung is Director for TIBCO Spotfire Cloud at TIBCO Software. He has over 15 years of experience in the enterprise technology with strong experience in financial services. Prior to joining TIBCO Software, Steve has been with companies such as Oracle, Autonomy, BEA and webMethods helping global organizations design and build complex enterprise architectures. Steve is a business technologist that has held multiple roles as a consultant to business development helping customers achieve business value from technology. Steve holds a Bachelors degree in Computer Science from Binghamton University. Previous Story
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Stefan Hoglund Visualizing data is key to understanding what is going on, and being able to iterate fast is critical when executives or decision makers dont adopt self service. I am still waiting for a collaborative cloud-based BI environment that replace expensive IT resources.
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October 30, 2013 / Reply kenneth dare AN ARTIST has the intuition to interpret complex analytical information and present it in a visual way that your words cannot describe. October 26, 2013 / Reply Phil Simon No argument here. Whats more, traditional BI tools werent build to handle petabytes of unstructured data. Great post. October 22, 2013 / Reply Colin morris YES, agreed! While the rise in visual analytics are boosting analysts insight at their desks, there is another welcome need for interactive live visuals to accompany speakers presentations. For excel read PowerPoint Which has become a regular excuse for listeners to turn off. Harvard Business revue recently highlighted the new role of Artist / strategists to make dry slides more engaging. Concept Visualisation makes sense, as our brains are wired to read and remember images quicker than words. (Colin Morris Brand Analyzt) October 19, 2013 / Reply David White I definitely agree with the benefits of the visual approach Steve. My recently published research (see link) found that managers with access to visual data discovery tools were 28% more likely than others to find the information they needed in a timely way. As a bonus, the self-service approach which this class of tools encourages means that corporations are able to get analytics into the hands of more users, as they are less reliant on scarce IT skills. October 10, 2013 / Reply
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Isolate Problems and Use Analytics to Solve Them | The TIBCO Blog
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Isolate Problems and Use Analytics to Solve Them

02 October 2013 by Steve Leung in Analytics - No Comments
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This is part 1 of a series on analytics which will appear each Wednesdayon the TIBCO blog.
Whether youre a data scientist or a business manager, its essential to pose the right questions to get the right big data answers. When you need to solve a specific business problem (e.g., applying claims, market, and customer data to determine whether a claim is fraudulent), start by identifying business objectives, then align those goals against the correct data sets. Demand More From Your Data Posing the right question starts with pinpointing what the organization is aiming to accomplish. Are you trying to increase revenue among existing customers? Boost customer loyalty? Identify the reasons behind customer churn? By isolating the problem, businesses use analytics to create the best questions and determine the correct data sets to apply them against. From there, and to ensure that youre actually gathering the right data sets and using them correctly, its important to ask challenging questions about the sources of the data and how you intend to use it: Where did the data come from? Is it timely enough for meeting our business requirements? Is it accurate? Should we overlay this with other data to illustrate a pattern or gain a more multidimensional view of operational or
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business trends? Are there weaknesses or shortcomings with the data available that can skew the results? Decision-makers need answers to these questions in real time. A cloud-based analytics platform can enable individual users to get the answers to their pressing business and operational questions quickly. This avoids a lengthy IT build, which often results in a data warehouse or data mart loading the data, then generating reports. Analytics Available Whenever You Need Them Intuitive, web-based analytics tools make it easy for business leaders, divisional managers, and key stakeholders to drill down on data without the need for extra programming. Meanwhile, a sophisticated analytics platform thats designed to meet the needs of various classes of business users allows for decision-makers to pose more complex questions right out of the box, without the need for IT to intervene. Business is moving at the speed of light. In order to succeed in this fast-paced and everchanging environment, enterprise leaders require highly configurable and functional analytics tools they can use themselves to analyze and digest dynamic business and market information in real time. This includes a marketing analyst whos looking to identify the amount of revenue generated by an inbound marketing campaign, or a product manager who wants to compare the profitability of different product lines to identify which merchandise is and isnt performing well. Business leaders dont have the time or the patience to wait for IT to pose the right questions and generate reportsreports that may well be obsolete by the time they reach key decision-makers. They need analytics tools that are instinctive and allow them to ask the right questions and collect insights immediately. To learn more about sophisticated analytics, take advantage of a free 30-day evaluation of Spotfire.
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Steve Leung
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Steve Leung is Director for TIBCO Spotfire Cloud at TIBCO Software. He has over 15 years of experience in the enterprise technology with strong experience in financial services. Prior to joining TIBCO Software, Steve has been with companies such as Oracle, Autonomy, BEA and webMethods helping global organizations design and build complex enterprise architectures. Steve is a business technologist that has held multiple roles as a consultant to business development helping customers achieve business value from technology. Steve holds a Bachelors degree in Computer Science from Binghamton University. Previous Story
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Dont Ask What the Internet Can Do for You, Ask What You Can Do for the Internet
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Dont Ask What the Internet Can Do for You, Ask What You Can Do for the Internet
03 October 2013 by Laura Lau in Tech Trends Big Data - No Comments
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As we get closer to the day when every person, thing, and device finds a route to connect and communicate with the Internet, the power of web relationships will open up countless new opportunitiesfrom shaping the course of big events (like reducing the impact of natural disasters) to more personal benefits (like monitoring our health or making sure we never forget our Grandmas birthday). We become more and more reliant on the Internet to remind, guide, and think for us. How We Feed the Internet It is easy to appreciate all the ways the Internet has improved our lives, but reciprocity isnt quite so apparent. Thats right, giving back to the Internet. The fact is, most of the content on the Web has been created and put there by humans in some form or another. From information rich in entertainment to once seemingly mundane data of our comings and goings, the Internets prosperity is dependent on content generated by us as individuals and organizations. With the Internet of Things, the data possibilities are endlessthink of sensors tracking our every movement, pet monitoring, or habit feedback; without our data, the Web is a lot less interesting. The Power of Connection
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As new companies find innovative ways to improve our quality of life, it means that even more of our data will be leveraged in new ways. This will mean allowing companies, objects, and other people to connect with us for data to support this vision. Its a little overwhelming to think that with a truly global vision of the Internet, we will participate by sharing more of ourselves. But, its also exciting to know that the picture of this complete participation will create a rich and (hopefully) accurate online landscape. By leveraging the power of humans around the world we will have access to a better way to solve problems, which in turn helps us address the challenges of people around the world. We can solve problems that seemed too overwhelming just a few years ago by leveraging Big Data. Channeling the Flow of Data By partnering with organizations, we give them the tools to dream big without sacrificing simplicity, security, and ideas. Dont limit the incredible amount of data that flows back and forth from people to the Internetleverage it. The impact of connecting everyone can be truly remarkable. Learn more about how TIBCOs customer, World Vision, is using Big Data to help people all over the globe. To leverage Big Data in your organization, check out ourIntegration Maturity Model Assessment.
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Laura Lau
Laura is a writer and marketer based out of Los Angeles. Her career spans retail, agency and brand marketing in the United States and Asia. She enjoys writing on a variety of topics spanning technology, food and pop culture. Previous Story
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Visual Data Discovery for a Competitive Advantage
This is Part 4 of a series on analytics which will appear each week on The TIBCO blog. You can read Part 1,Isolate Problems and Use Analytics to Solve Them;Part 2,DataVisualizationSaves Time;and Part 3,Moving Beyond Excel: Its Not a Breakup, but a Breakthrough. Many companies know the vast volumes of Read More 31 October 2013 by Steve Leung in Analytics / No Comments
Moving Beyond Excel: Its Not a Breakup, but a Breakthrough
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This is Part 3 of a series on analytics which will appear each Wednesdayon The TIBCO blog. You can read Part 1,Isolate Problems and Use Analytics to Solve Them, and Part 2,DataVisualizationSaves Time. We want to find a better way for users and analysts to develop a greater understanding of Read More 23 October 2013 by Steve Leung in Analytics / 3 Comments
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Data Visualization Saves Time
This is Part 2 of a series on analytics which will appear each Wednesdayon The TIBCO blog. You can read Part 1, Isolate Problems and Use Analytics to Solve Them,here. No matter your role within an organization, whether it be analytics, product manager, or leader, lets face it: Excel-based bar Read More 09 October 2013 by Steve Leung in Analytics, Cloud / 5 Comments
04-11-2013
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This is part 1 of a series on analytics which will appear each Wednesdayon the TIBCO blog. Whether youre a data scientist or a business manager, its essential to pose the right questions to get the right big data answers. When you need to solve a specific business problem (e.g., Read More 02 October 2013 by Steve Leung in Analytics / No Comments
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04-11-2013
Visual Data Discovery for a Competitive Advantage | The TIBCO Blog
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Visual Data Discovery for a Competitive Advantage

31 October 2013 by Steve Leung in Analytics - No Comments
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This is Part 4 of a series on analytics which will appear each week on The TIBCO blog. You can read Part 1,Isolate Problems and Use Analytics to Solve Them;Part 2,DataVisualizationSaves Time;and Part 3,Moving Beyond Excel: Its Not a Breakup,
but a Breakthrough. Many companies know the vast volumes of data they capture about their businessescombined with the reams of data consumers are generatingcan yield insights to create new revenue streams and bolster the bottom line. But the technology landscape to exploit Big Data can be confusing. For example, what is the difference between data discovery and data visualization? Data Discovery Limits User Interaction with Information Data discovery is the discovery of relationships between data elements, regardless of where the data is stored, according to Bloor Research. Jaime Fitzgeraldauthor, founder, and managing partner of data analytics consultancy Fitzgerald Analyticsexpands upon data discovery in a recent blog post. He contends that the term data discovery is different, depending on the context of the use cases where it is applied.
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For example, if you work in data management and quality, your data discovery is focused on discovering key metadata about core data assets, he notes. You are focused on profiling data completeness, data quality, consistency and provenance.On the other hand, if you are a marketing scientist focused on predictive analytics, you see data discovery as a tool for trend identification, campaign analysis, and possibly model refinement or self-service reporting and business intelligence tools for the chief marketing officer. After data is discovered, it can be presented to users in various ways including managed reporting, dashboards, and visual data discovery (visualization), according to a recent research report by Aberdeen Group. With managed reporting, information is often displayed to users as tables or charts; interaction is typically limited or does not exist. Dashboards present information numerically and graphically, and users can interact with data. IT usually designs the dashboards for users, according to Aberdeen. Users Interact Directly with Data Visualization Tools Data visualization is a rich, highly interactive, visual tool that allows users to manipulate and interact with information directly, Aberdeen notes. While IT is involved in this method, the business owners are typically responsible for creating and accessing different views of the data. Organizations using visual data discovery are more likely to find the information they need, when they need it, according to Aberdeens May 2013 survey of organizations using visual data discovery and those that were not. The survey found that managers in organizations using visual discovery tools are 28% more likely to find timely information than their peers who solely use managed reporting and dashboards.This is fundamental, providing a real opportunity to gain competitive advantage, the report notes. When visual data discovery tools are used as part of a BI portfolio, almost onethird more business decisions can be based on facts, not gut feel. Additional findings from the survey include the following: Those firms using visual data discovery are able to get analytics into the hands of 48% more employees, compared to those companies that depend on other tools for business intelligence. At companies using visual discovery tools, 48% of business intelligence users are able to find the information they need without the help of IT staff, all or most of the time. When visual data discovery is not used, 23% of BI users can find the information they need all or most of the time without IT. Firms that use data discovery tools are able to support 449 analytics users for every full-time equivalent employee with IT skills, while companies not using visualization tools can only support 248 analytics users for every IT employee.
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Half the organizations using visualization tools say that they could easily access the potential of new data sources for analytics; only 8% of companies using managed reporting and dashboards report the same. Where visual data discovery is used, managers that consume BI content are over twice as likely as their peers to interact extensively with the information presented to them, the report notes. That interaction enables those managers to find answers to unexpected questions that arise through the day-to-day turmoil that is business as usual for most companies. For 30 days, see how data discovery works on Spotfire Cloudand find how this impacts your business.
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Data Visualization Saves Time | The TIBCO Blog