Marketing data is the backbone of any company. It is what drives decision-making and profitability. Data visualization can help extract information from large quantities of raw numbers by using graphs and charts to present trends visually so they are easier to understand.
What is data visualization?
Data can be defined as organized information. It represents the key metrics of a business or an organization. Data visualization deconstructs raw data into graphical representations so are easier to comprehend.
Data visualizations have many forms, like charts, graphs , diagrams and infographics. Each of these forms presents information in different ways to allow marketers understand marketing data better.
Why do we need to analyze marketing data?
Analyzing marketing data is vital because it allows you to find out who your target audience is.
Why they are purchasing your products and what other brands are competing in the same space?
By using this information correctly, marketers can improve their campaigns in order to connect with consumers on a deeper level. If you are not analyzing your data, it will be tough to decide on the next step and potentially more detrimental for future marketing efforts.
Importance of data visualization in marketing
- Visualizations make it easy to extract meaning from complex amounts of data
- It is easier for people to understand and comprehend charts, graphs or diagrams than raw numbers
- Visualizations allow marketers to see patterns, relationships or correlations between data that can guide decisions
- By presenting information in a way people are familiar with, you will make the learning curve easier.
- Data visualization allows marketers to monitor their progress and track changes in consumer behavior.
Why is it important for marketers?
Marketers are constantly looking for ways to improve sales and create a better customer experience. So they need to stay up-to-date with all the latest trends. The competitive landscape is constantly shifting, so marketers need to adapt their business strategies accordingly.
Data visualization gives them an edge because it helps them understand what types of decisions they can make based on their information. Data is essential to any business in today’s market, but it needs to be presented so that humans can understand to make sound decisions.
How to use data visualization when analyzing marketing data?
There are many different ways marketers can use visualizations when they are trying to analyze their data. You have to pick a format that matches your information and then extract insights from it.
The first step would be to choose the type of visualization you need. You can use graphs, charts, diagrams, or even infographics. Each form has its benefits and drawbacks, so make sure you think carefully about how you want to present this data before making your choice.
Once you have these visuals, you need to gather the data and use it in your visualization. You can find this information by simply adding how many of each product was sold or breaking down customer demographics based on specific criteria like country of residence. All this information will help clarify what kind of trends are happening with your data.
The advantages of using these visualizations include finding correlations between variables, like which products are selling well together or where consumers come from. Once you pick the trend that best suits your business, simply act on it by altering your marketing strategy accordingly.
There are many ways that marketers can use data visualization to analyze their marketing data. All you need to do is carefully plan out which format will be most beneficial in analyzing your data and then follow through with the necessary information.
By picking the correct visualization method, marketers can spot important trends that could affect their business or find different kinds of correlations between other variables. Once a trend has been spotted, it can be acted upon by making appropriate business strategies.
Most Used Data Visualizations:
- Bar graph
- Pie chart
- Line graph
- Column graph
- Range bar graphs
- Likert Scale Examples (3-point, 5-point, 7-point, 9-point)
- Dot plot
- Bubble charts
- Radar chart
- Sankey diagram
Tips on making visualizations that help understand marketing data
1. Visualize what you need to
A key principle in visualizing data is to ensure that the data you are trying to present is accurate and consistent. The visualization should only contain relevant information about your marketing strategy. But it can also include secondary or contextual information for more context.
For example, if you are looking at consumer preferences by gender, you can include additional information like the type of products they typically buy.
2. Use appropriate chart formats
Depending on your data, there are many different graphing techniques you could use for visualizations. For example, before making a bar chart, make sure that your data is categorical or ordinal because if it isn’t, your chart will look wrong.
3. Keep it simple
The key to effective visualization is striking a balance between too much information and using the right amount of information. If you overload your Sankey diagram, chart, graph, or infographic with unnecessary data, its purpose will be lost.
4. Optimize the visualization for your needs
When choosing a format to visualize your marketing data, you need to consider what information is being presented. For example, bar graphs are better suited than line graphs when looking at trends between product sales because they can display changes in value over time more easily.
Similarly, for visualizing relationships between word frequencies and document categories, a treemap would be ideal because it can better reveal the presence or absence of certain words.
5. Get feedback
Before you publish your final visualization in a blog post or send it to colleagues for review, make sure you get some outside input from somebody who didn’t help with its creation. This will help you improve your visualization and make sure that it will effectively communicate its message.
6. Test your visualization
Just because visualization is right doesn’t mean that it can’t use some improvement. Use common sense to test whether there are any ways in which it could be improved or if there are any other visualizations that might help make the data more clear or easier to interpret.
7. Use visuals to make your data memorable
If you are trying to communicate complex information, there is no better way than using visuals like infographics, maps, and charts.
8. Make it interactive
Adding interactive components to your data visualization can help you better understand the information being displayed. Interactive charts, graphs, and maps give users a chance to explore your data to find their insights and draw their conclusions based on them.
Data visualization makes it easier to communicate significant amounts of data quickly and clearly. It is an essential part of any business analysis and decision-making process.
Lori Gillen is a Blogger/Content Creator who is specialized in the field of Digital Marketing & Data Analysis with 5 years of experience. Currently working at PPCexpo as a Senior Content Creator.