3 Ways Your Small Busiess Should be Utilizing Data Visualization

3 Ways Your Small Busiess Should be Utilizing

Data Visulization

I say it all the time. RUN YOUR SMALL BUSINESS LIKE A CORPORATION! Don’t exclude your business from activities that would position you above your direct competition. Data visualization is a tool that small business often under-utilize due to lack of information and underestimation of its value. Completing research to understand the inner workings of your business, as well as your industry and market is valuable to your business. But what’s even more valuable is how the data is presented for evaluation. Proper preparation of data can be helpful for communicating to investors or stakeholders, help create clear conceptualization for internal evaluation, and make for attractive, shareable social media content.

IMPRESS STAKEHOLDERS

Small businesses have to work a bit harder to acquire funds, sponsorships, and relationships with investors and potential partners. Using effective data visualizations can not only “WoW” stakeholders, but it can help to illustrate important data points relative to your business. Take for example a popular local boutique sneaker shop. This shop is presenting to a potential investor and showing the most impactful financial tech companies. Then goes on to illustrate the that the business is currently operating on and utilizing Affirm, Stripe, Robinhood, and Coinbase. This illustration would help to show the position of the companies they are using to engage in their finances, which could show effectiveness in its finance strategies, thereby increasing confidence in the business’ approach and master plan.

MAKE INTERNAL AND EXTERNAL DATA MORE DIGESTABLE

Businesses of all sizes should do both external and internal data analysis. But the value comes in not only knowing how to conduct and gather the data but in knowing how to present it in a way that make it useful and digestable for use. Charts and bar graphs are at times helpful but changing the way you look at data can often impact how uderstand it and use it to propel business understanding and practices. Using impactful visuals can help business owners and employees to see the information in a way that is useful in order to make certain informed decisions.

CREATE VIRAL CONTENT

Most often when we think of viral content, we think about funny memes, entertaining videos, or heartwarming stories. But what about the visuals that make people think or draw you into the data? This data can be informative, intriguiging, and contagious. People want to see information in ways that are easy to understand but attentiongetting and memorable. Organizing information in a way that draws in readers while also informing about your business or industry is an easy way to gain shares and spread your messaging. Consider thinking outside the box and appealing to consumers in a way makes them want to not only engage but share with others.