Buyers Guide

Table of Contents

• What is Data Visualization Software?
• The benefits of Data Visualization Software
• Typical features of Data Visualization Software
• The cost of Data Visualization Software
• Considerations when purchasing Data Visualization Software
• Relevant Data Visualization Software Trends

What is Data Visualization Software?

Data Visualization Software helps business professionals to convert numerical and textual data into visual charts, graphs, tables, and figures. The software enables data analysts, scientists, and statisticians to view and analyze data through graphs and visuals created on a central interface. The software provides capabilities to identify patterns and trends, spot any anomalies or outliers, predict future trends, and delve into key business insights.

The benefits of Data Visualization Software

The following are some of the most significant benefits of using data visualization software:

• Quick decision making: Data visualization software helps users in making quick decisions as the human brain is able to process visual images faster than numerical data. Professionals are enabled to make decisions quicker than their competitors in the business who are not using visualization tools.
• Easy access to business insights: According to various studies, it is noted that people who use data-visualization tools are more likely to discover relevant and useful insights than those who use traditional methods of data analysis and simple dashboards.
• Easy identification of the latest industry trends: Businesses are required to be competent enough to gather and process data quickly while gathering insights from it in real time. The faster your business analyses the opportunities and converts them into actionable business decisions, the stronger will be your foothold in the industry.
• Accuracy in customer sentiment analysis: Like the way data visualization can depict the trends and provide insights about customer behavior, the tool can also help in analyzing customer sentiments. The solution digs deep into customer-oriented data to unveil what customers think about your brand and how they speak about your brand on social platforms. This allows businesses to read the psyche of their target audience, understand their likes and dislikes, pain points, and their preferences.

Typical features of Data Visualization Software

Here are some of the most common features of data visualization software:

• Customizable dashboard: Alter the layout and content of dashboards.
• Data capture and transfer: Import, collect, and capture data from multiple sources.
• Reporting/analytics: Combine and organize the data in different graphs and tables to generate visual reports for analysis.
• Access controls/permissions: Regulate who can view and use the system by setting permissions and issuing passwords.
• Customizable templates: Create, save, and re-purpose formatting used earlier in the form of a template for future projects.
• Data import/export: Export and import the information as well as reports to and from the system.
• Drag and drop: Organize applications and processes by clicking over and dragging the pre-built components to arrange them according to your requirements.
• Trend analysis: Review data from past periods to reveal recurring tendencies and predict future performance.

The cost of Data Visualization Software

Most products in the market are priced on a per-user-per-month basis and can be divided into three pricing tiers based on their starting price.

Price ranges*:

• $14 - $105
• $105 - $599
• $599+

*The pricing included is for the entry-level/lowest-priced offering found on vendor websites on Feb. 17, 2022. These ranges correspond to the 25th, 75th, and 100th percentiles of pricing information gathered from vendor websites of sample products.

The above list summarizes pricing for the base plans of most products. An enterprise or premium product that is priced higher may include additional features such as custom branding, real-time reporting, real-time updates, and relational display.

Considerations when purchasing Data Visualization Software

• Data visualizations supported: You may need to create different types of graphs and charts to display various types of data. Every visualization is appropriate for only specific types of analysis. For example, to compare numeric values such as sales and profits you will need column charts. If you want to understand the relationship between two different variables, you will be using a scatter plot. Look for advanced visualization options, such as treemaps, bubble charts, geographic maps, streamgraphs, infographics, and three-dimensional scatter plots.
• Advanced tools like animation: The solution you choose should offer support for dynamic data and animations as you would not like to always present information in the form of static visualizations. Advanced tools that can support dynamic data include visual queries, multidimensional visualization, and actionable alerts.
• Easy data handling: Ensure that the software supports network operations in case you want to exchange data with other users on the network. In case you need to transfer data to and fro from the database, check that the data-analysis software comes with drivers for using SQL databases such as Microsoft, Oracle, and Informix.
• Option to export charts: Often you may need to export charts rendered by the software into PDF files or images. Alternatively, you may need the underlying data of the chart as a spreadsheet. For such cases, check the formats available in which you can export the visualizations. Additionally, the solution should also allow exporting charts individually or in batches.
• Mobile accessibility: Data visualization solutions with mobile accessibility can show the visualizations on any internet-supported device. This will help users who are out of office or in a meeting with mobile access to software, enabling them to make data-driven decisions. Look for a solution that offers mobile apps or an optimized web portal for mobile devices. More than the personal convenience of a user, it also ensures that all the decision-makers can easily retrieve the required information and make informed decisions.

Relevant Data Visualization Software Trends

• Storytelling through visualizations: Visual analytics tools are progressing towards being more narrative and providing insights in different forms of data. Automation in data analytics and visualization is increasing the adoption of data storytelling for data-driven decisions. Augmented analytics uses artificial intelligence (AI) and machine learning (ML) technologies to assist with insight generation, data preparation, and insight explanation. This helps analysts to augment how people analyze, react and explore data in analytics and business intelligence (A&BI) platforms. According to a survey conducted by Gartner, “automated insights and data storytelling are the most important emerging capabilities required for selecting a new A&BI platform.”