Post on 26-Jan-2015
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How to Unlock Value in Data Using
Data Visualizations [#VIZ]
Chaitanya Sagar “CS” cs@perceptive-analytics.com 646.583.0001
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Data Visualizations
Kina, Inc. is a hi-tech company based in Silicon valley. The company’s operations were growing and wanted to track the cash flows in end-to-end business process. The CFO of the company wanted to project future cash requirements.
A comprehensive financial model which integrated the working of different departments was built. The model performed scenario analysis at various levels of sales and inventory investments to estimate the cash requirement. This model was presented to the executive board of XYZ, Inc.
Financial Forecasting Tool for a Silicon Valley Startup
Cash Position Is the company investing
or accruing cash?
Net Margin Is business profitable?
Net Sales How fast are
revenues increasing?
Avg. Selling Price Is the average sales price picking
up?
Overview
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The need for visualizations
How visualizations help unlock value
How to build visualizations
-Purpose
-Design
Tools
Q&A
Which Industry Do You Work In?
• Banking, Financial Services and Insurance
• Management Consulting
• Retail and CPG
• Information Technology
• Others
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Which Function Do You Work In?
• Analytics / BI
• Sales and Marketing
• Operations / Human Resources
• Finance
• IT
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The Need for Visualizations
Our Needs Outgrew Charts
More data!
high dimensional
ˠ
Humans are Visual
Brain can absorb large amounts of information and find patterns (and deviations!) P
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“Mind is a Pattern-Matching Machine”
Edward De Bono Mechanism of the Mind (1969)
x y x y x y x y
10 8.04 10 9.14 10 7.46 8 6.58
8 6.95 8 8.14 8 6.77 8 5.76
13 7.58 13 8.74 13 12.74 8 7.71
9 8.81 9 8.77 9 7.11 8 8.84
11 8.33 11 9.26 11 7.81 8 8.47
14 9.96 14 8.1 14 8.84 8 7.04
6 7.24 6 6.13 6 6.08 8 5.25
4 4.26 4 3.1 4 5.39 19 12.5
12 10.84 12 9.13 12 8.15 8 5.56
7 4.82 7 7.26 7 6.42 8 7.91
5 5.68 5 4.74 5 5.73 8 6.89
Mean 9 7.5 9 7.5 9 7.5 9 7.5
Variance 11 4.122 11 4.122 11 4.122 11 4.122
Correlation
Linear Regression y = 3.00 + 0.500x y = 3.00 + 0.500x y = 3.00 + 0.500x y = 3.00 + 0.500x
Anscombe's Quartet
I II III IV
0.816 0.816 0.816 0.816
Anscombe’s Quartet
How are the Data Sets Different?
• All four data sets are identical
• Distribution could be different
• Median and Mode could be different
• No comment
Statistics May Hide Something
Statistics and bikinis show a lot, but not everything.
- Toby Harrah American baseball player
Where do Data Visualizations Fit in Data Analytics Process?
Acquire Data
Clean Data
Explore Data
Data
Modeling
Insights
Communicate
Where does Data Visualization Fit in Data Analytics Process?
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How Visualizations Help Unlock Value
Make Sense of Vast Data Quickly
Make Sense of Vast Data Quickly
Elicit Questions You Did Not Ask Before
What should we do to make India a land of equal opportunity for all, free of prejudice and discrimination?
- Ratan Tata
Sample Responses
• @amitagarwal08 @RNTata2000 what can a common.man do to change india..it all depends on government n big people like u sir with gr8 respect..
• @bangaarm @RNTata2000 Budget 2012: This year is Tax Holiday. No income tax on your earnings. This is to bring back all the black money to India
• @sri_v22 @RNTata2000 1. Kill corruption 2. Electoral reforms so that honest ple can get into politics 3. Media & activists should increase their role
• @joseaaa @RNTata2000 Can't be articulated with 140 characters. Quality education for the masses is magic potion that can address most of the problem.
Better politics? Corruption?
Family planning?! Fix capitalism Fix Education
Fix legal system
Elicit Questions You Did Not Ask Before
Discover New Data Relationships
Discover New Data Relationships
Show Others What You See
Show Others What You See
http://guns.periscopic.com
How to Create Visualizations
Data
Analyst
Tool
Insights
Data
Analyst
Tool
Domain / Situation
Imagination
Purpose Design
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Purpose
Pic
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Tasks Audience Answers
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Process
• Understand your goals
• Determine the most important dimensions of your data
• Determine key data relationships
• Show data close to reality e.g. maps, time lines etc.
• Choose encoding wisely “Function first, suave next”
• Choose colors to communicate well
Visual Encoding
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Design
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Pic
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What Do You Think About This Chart?
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39.0%
19.5%
9.8%
7.4%
3.1%
21.2%
U.S. SmartPhone Marketshare
RIM
Apple
Palm
Motorola
Nokia
Other
Edward Tufte
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Maximize Data Ink Ratio Data-ink/Total ink used
Maximize Data Density (# entries in data matrix)/(area of graphic)
Colors
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Colors
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Create Color Harmony
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Analogous
Complementary
Ideas for Color Harmony
Use colorbrewer2.org
ColorBrewer2.org
21 colors!
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Tools
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Resources
Designing Data Visualizations Visual Encoding complexdiagrams.com/properties richardbrath.wordpress.com Edward Tufte edwardtufte.com D3JS.org Processing.org Principles of Visualization Design
Q&A
How to Unlock Value from Your Data with Visualizations
April 16, 2014
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Thank you!
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