In this article on the Spotfire Blog Amanda Brandon recently posed the question: Can Data Visualizations Change the Business Decision Game? The article recounts the creation of data visualizations by Terrence Kawaja to show the complex online advertising space with over 1200 companies involved in a $10b annual business. The graphics show the flow of information and involved service providers from advertiser to consumer. It is said that the original chart published in 2009 became a “go-to tool for advertising executives”.
Kawaja of investment firm LUMA Partners refined this approach and created six such landscapes called LUMAscapes for display, video, search, mobile, commerce, and social online advertising.
The Spotfire Blog conlcudes with four takeaways for business analysts from the approach to use such visualizations:
Data visualizations are the ultimate content marketing. The simplification of complex data in a visually appealing format can take your information and brand viral. Giving away data on the major players and how they work together to drive an industry set the stage for authority and respect. …
Data visualizations can become an industry standard. Simply look at how Kawaja was able to help ad executives navigate the digital ad space.
Data visualizations can become a game-changer. Kawaja is branding these tools and using the graphics as a tool in generating business for his investment firm.
Data visualizations can be central to business decision-making. According to the WSJ, these new visualizations could enhance discussions at the Digital Media Summit, a meeting of top execs from the investment and Internet advertising space.
A picture can be worth more than a thousand words…