The Importance of Data Visualization in Marketing

By CIOReview | Tuesday, October 16, 2018
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The term marketing applies differently in the case of different marketers. For the good marketers, marketing surrounds the idea of rigorous research and accumulating data which supports the studies. The best marketers however, know how to take it from there; they possess an in-depth understanding of how to utilize the data attained for gleaning insights.

The internet is crowded with blog posts and articles about what companies should or should not do while promoting their products or services in the marketplace. However, there is no rigid theory or rulebook to attracting the maximum audience to a business—organizations need to leverage trial and error and consequently track the results to achieve their goals.

Why is data visualization so important in marketing?

Marketing experts focus on extracting meaningful insights from the received data. In order to ensure high-quality extraction of information, experts need to make use of the right kind of marketing analytics software and render meaning and flexibility to the data. The best marketing analytics tools are capable of integrating with most of other data systems. Marketers accumulate data from various sources, such as reviews of products across, digital, social and even offline channels along with Facebook Insights, Google Analytics, market surveys, customer feedbacks and the like. Through data visualization, companies can gather data, segregate it into different categories and store it into one single platform in order to access it according to the requirements.

Most market analytics tools visualize data automatically, allowing users to perform instant tests from the data acquired. This is beneficial in comprehending whether they must explore the tools newly introduced in the market. When data is visualized on a dashboard, it renders meaning to the data—this implies companies can get a better understanding of where and why they have invested their capital into such areas.

Data visualization enables investors to interact with the data according to their own method and time. Business enthusiasts are capable of categorizing the sources of data according to their authenticity and preferences. Most market analytics software do not confine their sources to social networks—users can upload all sources of data and store it on the same dashboard, in an effort to facilitate easy analysis.

A visually attractive dashboard consists of all the features which help users understand the data and make informed decisions. It is important how businesses represent data to their clients as well as their employees, for the sole objective of increased profits.