business data visualization workshop s paknikar - feb 2015

Business

Data

VisualizationWorkshop @ We School, Bangalore

Facilitator: Shantanu Paknikar

Twitter: @spaknikar | Mail: shantanu.paknikar@gmail.com

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

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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: shantanu.paknikar@gmail.com

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