Why Fashion Companies need to use Data Visualization | RM

 What is Data Visualization?

According to Ossama Embarak, author of the book ‘The Importance of Data Visualization in Business Intelligence’, defines data visualization as the process of interpreting data and presenting it in a pictorial or graphical format. (1)

The volume of data, as well as the technological development in the fashion industry, is rapidly growing every day. Data is collected and analyzed so that businesses can make more accurate business decisions. The drawback of having this growth in data is that it has become more complex to draw conclusions from the most important data. This is why data visualization has become very important.

‘Data visualization helps people understand the significance of data by summarizing and presenting a huge amount of data in a simple and easy-to-understand format in order to communicate the information clearly and effectively. - Ossama Embarak (2018)

How should we use Data Visualization?

Poor data visualization can cause misunderstandings towards your audience leading them to make poor business decisions. The use of graphs and charts can easily pinpoint where your business is struggling and where it is strong - helping you to find a focus point.

Data visualization is useful for fashion companies to use a visual summary of information to identify trends and patterns in their data to make a decision. The use of certain charts makes it possible to visualize data. Creating a chart links data with your questions to help give you the answers you are looking for. When we studied Tableu’s chart guide we found two examples of how companies use data visualizations that can be directly applied to your fashion brand.

#1 Use colour, shapes & charts for Data Visualization

The use of colours, shapes and charts can help your audience find a better understanding of the data that you are presenting. ‘Visualizing data using colour, shapes, positions on X and Y axes, bar charts, pie charts, whatever you use, makes it instantly visible and instantly significant to the people who are looking at it. - Jon Boeckenstedt, Associate Vice President Enrollment Policy and Planning, DePaul University (2)

#2 Tell great stories with Data Visualization

‘We’re using it for analytics that requires great data visuals to help us tell the stories we’re trying to tell to our executive management team.’ - Dana Zuber, Vice President - Strategic Planning Manager, Wells Fargo (2)

References

1. Embarak O. (2018) The Importance of Data Visualization in Business Intelligence. In: Data Analysis and Visualization Using Python. Apress, Berkeley, CA. https://doi.org/10.1007/978-1-4842-4109-7_2

2. Hardin, M., Hom, D., Perez, R & Williams, L., (2012), Which chart or graph is right for you? Tell impactful stories with data.

#fashionindustry #fashionmarketing #data #datavisualization #tableau

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