There is no doubt one of essential concept in data exploration and analysis is visualization of the data. Data visualization is the presentation of data in a pictorial or graphical format, thus enabling the decision makers to visualize the data and make informed decision [1]. Notably, large data is generated regularly, which needs extensive analysis and interpretation. As a result, there are various benefits associated with the data visualization to various sectors (data analysts (decision makers) and organizations). For example, the concept aids in including enhanced assimilation of business information, whereby many business intelligence reports incorporate numerous visualization tools, such as statistics tables and charts [2]. Moreover, business managers in organization that utilize visual data tools are 28% more likely to find timely information than those who depend solely on managed reporting and dashboards. Besides, data visualization aids in rapid identification of latest trends, whereby companies are able to gather various business insights, such as revenue, expenses, and business opportunities thus make informed decision [3]. For instance, the decision makers are bale to identify shifts in the customer behavior and market conditions. Furthermore, data visualization plays a critical part in predictive analysis of various sections, such as sales whereby decision makers can forecast the increase or decrease of sales. Therefore, the following study will use of data visualization to exhibit insights and characteristics of real GDP data in the United states collected quarterly. There are various tools used in data visualization, which include line graph, bar chart, pie chart, scatter plots, and histogram [3] Bar graphs: They are used to exhibit comparison among individual items; for instance, the graph can be used it the study illustrate gender comparison, whereby the graph will show between male and female which gender recorded higher sales.
Pie charts: They are used to illustrate the contribution of individual measurement value to the grand total represented in a circle. Histogram charts: They are charts used to show the frequency of an event. Thus, the following chart exhibits the frequency distribution of services provided. 2030405060708090100110120 0 10 20 30 40 50 60 70 Histogram Services Frequency Line charts: They are used to exhibit the trend of continuous data over time. The chart below shows an increase in real GDP across years (1947 to 2018) 1947Q11954Q31962Q11969Q31977Q11984Q31992Q11999Q32007Q12014Q3 0.000 20.000 40.000 60.000 80.000 100.000 120.000 140.000 Line Graph Quarters of the year GDP
Scatter plots: they are used to show the relationship between two variables, which exhibits either a positive or negative relationship. The following scatter plot show the relationship between GDP and personal expenditure 0.00020.00040.00060.00080.000100.000120.000140.000 0.000 20.000 40.000 60.000 80.000 100.000 120.000 140.000 Scatter Plot Personal expenditure GDP Box Plots They are graphical representation of measures of dispersion, which include median, interquartile range, 75- and 25-percentile value in a data set. Moreover, the graphical representation exhibits any outlier in the data. Therefore, the following data box plot shows the median, 75- and 25-percentile value.
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Bubble Chart Notably, in the event a decision maker seeks to show the association between more than two variables its recommendable to use the bubble chart o matrix scatter plot. The following bubble chart exhibits the relationship between GDP, personal expenditure, and goods 0.00020.00040.00060.00080.000100.000120.000140.000 0.000 20.000 40.000 60.000 80.000 100.000 120.000 140.000 Bubble chart Personal expenditure and Goods GDP
References [1]Blitz, S. (2017, November 15).Useful Ways to Visualize Data. Retrieved from Sinsense Website:https://www.sisense.com/blog/10-useful-ways-visualize-data-examples/ [2]Corday, R. (2017, July 05).Benefits of Data Visualization. Retrieved from DZone Website: https://dzone.com/articles/6-ways-data-visualization-can-change-your-company [3]Visualr. (2018, April 17).Advantages of Data-Visualization. Retrieved from Visualr: https://visualrsoftware.com/advantages-data-visualization/