I thought this week to take a different approach to this topic and explore the world of data visualization.
As we all know information is essential for the decision-making process ,so the display of this raw data is vitally important to make it easily understandable to transform to information that will be useful to the decision maker.This has caused data visualization to become a valuable resource to firms and others decision makers in a firm.
Data visualization is a general term used to describe any technology that lets corporate executives and other end users “see” data in order to help them better understand the information and put it in a business context. http://searchbusinessanalytics.techtarget.com/definition/data-visualization
To be honest data visualization is a hard thing to actually talk about without some actual examples so here they are :
Seeing these diagrams which are available at http://www.loveinfographics.com shows that with clear information it would be clear and easy to make decisions based upon these.
If you are interested yourself in creating our own data visualization diagrams then go to http://www.tableausoftware.com/public/ which will give you a free trial of their software.
Also there are some interesting videos I came across from the TED series of lectures if you want to see some more diagrams and how you can use them to make decisions.