business data visualization workshop s paknikar - feb 2015
TRANSCRIPT
Business
Data
VisualizationWorkshop @ We School, Bangalore
Facilitator: Shantanu Paknikar
Twitter: @spaknikar | Mail: [email protected]
Business
ArtsTechnology
Getting the best out of the workshop
Smart Phones are smartest in silent
Mode
Participate and share your
opinions, insights, questions
Keep Pen and Paper ready
Focus
Slide content will be made
available to you separately
Twitter updates are fine, use
#DataViz and @spaknikar
Exercise: A test of your memory
Keep pen and paper ready
Listen carefully to the directions
Each instruction will be repeated only twice.
Reproduce what you hear as accurately as possible
Key Takeaway: How many of us “Think Pictures?”
Workshop Objectives
1. Understand the importance of visualization
2. Understand some Best Practices and Principles
3. What’s happening in industry?
Section 1Overview, Principles, Examples
Anscombe’s Quartet: Data Set
Do you see anything unusual?
Anscombe’s Quartet: Visualization
It is exactly the same data set!
So: Visualize Before You Analyze!
Human beings are visual creatures
We understand pictures better than numbers and text
Visuals make it easier to compare, correlate and comprehend data
Large quantities of data best understood through visuals
Figuring out actions and responses are easier through visuals
Visualizations tell us a story!
Therefore: Think Pictures!
A picture is worth a thousand words,
but still needs to:
1. Capture Attention
2. Be easy to understand
3. Be pleasing on the eye – colors, font, layout, whitespace
4. Convey the right message
5. Evoke the right reaction
Basic Principles of Visual Communication
Data Visualization Examples:
Network Graph
"Wikipedia multilingual
network graph July
2013" by
Computermacgyver -
Own work. Licensed
under CC BY-SA 3.0
via Wikimedia
Commons -
http://commons.wikim
edia.org/wiki/File:Wiki
pedia_multilingual_net
work_graph_July_2013
.svg#mediaviewer/File
:Wikipedia_multilingual
_network_graph_July_
2013.svg
Data Visualization Examples:
Comparison
Source: www.flowingdata.com
Data Visualization Examples:
Impact of choosing right variables
Data Visualization Examples:
Histograms
TAKEAWAYS
1. Histograms are good
for certain types of
visualizations
2. Bins need to be chosen
carefully!
Information is Beautiful!
VISUAL COMMUNICATION:INFORMATION + DESIGN
Easiness
Usefulness
Usability
Relevant
Meaningful
New
Truth
Consistency
Honesty
Accuracy
Beauty
Structure
Appearance
Source: informationisbeautiful.net
Business Data Visualization:
What is Unique?
1. Business Data Visualization is always about Business Impact
2. Can give you Business Insights
3. Can help you take Actions with tangible Business Outcomes
4. Business Outcomes typically relate to: Top line, Bottom line, Brand
Just Information + Design is Not Enough!
What else do you need?
Business Data Visualization:
Typical Methodology
1. Start with a Business Objective
2. Decide on Key Performance Indicator (KPI) Metrics
A. Identification
B. Formal definition
C. Method of calculation
3. Identify Business Impact / potential actions ( … ‘Actionable Insights’)
4. Decide on the Visualization Type
5. Decide on Data Set you need
6. Implement!
Building Blocks for Data Visualization
1. Visual Elements
Need for a “Focal Point”
Your viewer’s eye should be centered towards this
2. Typography
1. Readability
2. Font Size, Style, Case [ Consistency is key! ]
3. Rendering on media
3. Space
1. Negative Space – especially on the outside of your design
2. Whitespace – is a design element!
Principles of Effective Visualizations
Margins
1:1.618 ratio
Grids ( 3 X 3 )
Negative Space / White Space – don’t surround, push to outside
Contrast
Fonts – Size, Weight, Italics, Color, Consistency
Groups
Flow: Top to Bottom, Left to Right
Be clear about your message
Minimalistic Approach
Exercise: Which central circle is bigger?
Ensure your visual design communicates the right message!
Best Practices:
Whitespace is a design element
Avoid a cluttered design with too many visual components / elements
Don’t be afraid of white space
Use it as a design element
Move white space to the outside of your design
Examples: Apple, Google
Best Practices: Colors:
Art, Aesthetic Sense, Business Context
RGB for Web / Mobile, CMYK for Print
Colors are culture dependent
Be aware of good / bad color combinations!
Choose colors based on Business Context
In Business Data Visualization, choose subtle & sober colors and not bright,
gaudy ones
Exercise: Which one is “better”? Why?
TAKEAWAY
The visual
variable needs
to change with
the message
you are trying
to convey!
Best Practices:
Simplicity & Minimalistic Design
1. What kind of a relationship do you want to depict?
2. How many variables?
3. How much can you simplify?
4. Keep the FIFI principles in mind
5. Don’t forget the Business: Objective, Impact, Actionable Insights!
Typical Visualization Types used in
Industry
Pie Chart
Line Chart
Column / Bar Chart
Tree Map
Scatter Plot
Bubble Chart
Word Cloud
Network Graph
Infographics
Infographics
Contain Graphs, Charts, Diagrams, Illustrations, and Text
Large amounts of information
Large number of visual elements
Take time for the reader to go through
Usage in industry: Primarily for marketing and branding
Exercise: Bad Visualization. Why?
4,500,000
5,100,000
South Africa Australia
Who will win the World Cup 2015? Number of Votes polled
Depiction is
wrong,
since the
actual
difference is
only 12%!
The Minimalistic Approach
Minimal number of visual elements
Minimal complexity
Intuitive and simple
Minimal number of font typefaces. If you want variety, use bold / italics /
caps. DON’T use 5-6 different fonts!
Minimal Clutter
Minimize “Chart Junk” – Edward Tufte
Have a lower limit to font size
Section 2Use Cases and Industry Context
Use Case #1: Travel & Hospitality ..1
Client: UK based Travel & Hospitality Conglomerate
Business Need: Understanding customer sentiment, demand insights
KPI Metrics: Examples
Visualizations presented: Examples
Expected Business Impact: Discussion
Use Case #1: Travel & Hospitality ..2
Use Case #2: Automobile Company ..1
Client: One of the World’s top automobile companies
Business Need: App sentiment insights
KPI Metrics: Examples
Visualizations presented: Examples
Expected Business Impact: Discussion
Use Case #2: Automobile Company ..2
Use Case #2: Automobile Company ..3
Use Case #3: Insurance Company ..1
Client: Insurance ( P & C / Non-Life)
Business Area: Claims Processing
KPI Metrics: Examples
Visualizations presented: Examples
Expected Business Impact: Discussion
Use Case #3: Insurance Company ..2
Treemap Visualization: Number of Monthly claims by type
Use Case #3: Insurance Company ..3
Visualization of KPI Metrics
Use Case #4: Banking Company ..1
Business Scenario: Customer On-Boarding
KPIs identified: Request Withdrawal Rate, Process Cycle Time, Volume
Forecast
Business Insight: Correlation between KPIs
Use Case #4: Banking Company ..2
KPI Metric: Request Withdrawal Rate
Use Case #4: Banking Company ..3
KPI Metric: Process Cycle Time
Use Case #4: Banking Company ..4
KPI Metric: Volume Forecast
Use Case #4: Banking Company ..5
Business Insight: Correlation between Process Cycle Time &
Request Withdrawal Rate
Q & A - DiscussionRecap of Session, What We learnt, Questions / Observations
About Me
Shantanu PaknikarSpecialist - Digital Business | Technology Platform Solutions
Mail: [email protected]
Blog: http://www.happiestminds.com/blogs/author/shantanu-paknikar/
http://shantanupaknikar.wordpress.com
https://www.linkedin.com/today/author/11986412
Linked In: https://in.linkedin.com/in/shantanupaknikar
Twitter: @spaknikar