Graphs have been a staple of business data analysis for decades but are not universally used. According to Analytic Insights, a study of global businesses cited that only 26 percent of the respondents’ organizations used data visualization in 2020.
Analyzing Sales Data
Graphs can help businesses to analyze sales data more effectively. By plotting sales figures over time, businesses can identify trends and patterns that might not be apparent from looking at raw numbers.
Visualizing Market Research Data
Market research is essential for businesses looking to understand their target market. However, the data gathered from market research can be complex and difficult to interpret.
Graphs can also be used to analyze customer behavior. For example, a scatterplot can show the relationship between customer age and purchasing behavior. This information can be used to make more informed decisions about product design, marketing campaigns, and customer service strategies.