As data streams into firms at an ever-increasing rate, the days of relying on static graphs and charts to guide decisions are dwindling.
Instead, companies that can match the speed of their decision-making to the velocity of the data itself, will likely be able to differentiate from those less adept at corralling data. That’s according to a new study from Aberdeen Group that looks at firms that use interactive and static visualization tools.
Stale Data isn’t Very Useful
Interactive visualization allows users to change the visual representation of data and connect directly with data sources by drilling down into summary reports to specific data points.
In contrast, static visualization tools include pre-packaged spreadsheets or reports with flat images and minimal underlying data available for manipulation. Those with interactive data visualization are 48 percent more likely than those using static visualization to have strategies for creating more self-sufficient BI users.
Survey respondents using interactive visualization have several common characteristics:
- Sixty-nine percent of those using interactive visualization have an executive-level sponsor or champion for analytics, compared to only 46 percent of those firms using static visualization.
- Sixty percent of interactive users report having established policies in place for governing and controlling end user data access, compared to only 38 percent of those using static tools.
- Forty-five percent of the interactive users develop analytical knowledge and skill sets in-house compared to 22 percent of static users.
Furthermore, the report notes that those firms using interactive visualization also leverage several key accompanying technologies:
- Seventy percent of those using interactive visualization report having real-time or near real-time reporting and analysis, compared to only 30 percent of static users.
- Sixty-six percent of those using interactive tools note that they are using data management/data quality tools, compared to 35 percent of the static users.
- Forty-five percent of companies using interactive visualization report having in-memory analysis in place, compared to 4 percent of static users.