Data VisualizationData visualization is the presentation of data in a graphical or pictorial format designed for the purpose of communicating information or deriving meaning. It validates the users/decision makers to see analytics visually so that they would be able to understand the new concepts. This data helps – to derive insight and meaning from the data in the communication of data and information in a more effective manner
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- In a survey of approximately 700 business professionals, only 15% said their organization is currently very effective in delivering a relevant and reliable customer experience. In the same survey, only 3% of respondents said they are able to act on all of the customer data they collect; 21% say they can act on very little of it.
- Only 16% of organizations can currently say that 75% or more of their employees have access to company data and analytics.
- In 2025, the IoT data analyzed and used to change business processes will be as much as all of the data created in 2020.
- 45 percent of companies run at least some big data workloads in the cloud.
- In the banking sector, investments in big data analytics were estimated at $20.8 billion in 2016.
- By 2020, there will be 2.7 million job postings for data science and analytics roles.
- Customer/social analysis is considered the second most important big data analytics use case, followed by predictive maintenance.
- Businesses that use big data saw a profit increase of 8–10 percent.
- More than 30 percent of businesses say big data and analytics have fundamentally changed business practices in their research and development departments
- The amount of data generated each second in the banking sector will grow 700 percent by 2020.
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