Huge amounts of data are being generated every minute of every day. In fact, 90% of the world’s data has been created in the last two years alone. When you factor in the global proliferation of internet connected devices, this isn’t surprising. But, how do you extract the value from this data?
Data isn’t worth a great deal unless it can be interrogated, analysed and used for decision-making. And it’s worth even less if people don’t understand it.
Data visualisation, the presentation of information in a graphical or pictorial way, is a great method of making data easy to view and understand. Tools like Microsoft’s Power BI mean this is no longer an incredibly complex task – its quick and easy to set up, and start getting insights from your data.
The five major benefits for charities and non-profits are:
1) Increased transparency with stakeholders
Charities and non-profits must be transparent with donors, supporters, service recipients, and members of the public about how much they are spending on what and why. Presenting this information in a graphical way helps people understand the data quickly and easily.
2) Removing the complexity
People can digest images and graphs more easily than reading through rows and rows of numbers. If you are dealing with large and complex datasets, visualising this data makes it much easier for other people to understand, particularly if they are not subject matter experts.
3) Deeper insight
Data visualisation makes large and complex datasets easy to read. This means that you can identify trends, anomalies, and insights with ease. Comprehensive data visualization tools will enable you to drill down deeper into specific data segments as well. This allows you to glean more insight from your data and identify areas that need further interrogation.
4) Improved internal communication
No matter how hard you try to avoid silos, they often exist within organisations, especially those with several large departments. Sharing insights and information in a graphical way can be a great way of informing other departments what’s happening in the organisation. These can be presented as dashboards on intranets or internal applications, enabling self-service, and saving you even more time.
5) Improved organisational performance
When you are actively using insights from your data, you will be making better strategic decisions, thus improving the perception and performance of your organization, both with potential donators and volunteers, and your current team.
As a non-profit, you’re highly likely to be collecting your own data, whether it’s as simple as user behaviour on your website using Google Analytics, or more detailed information on how stakeholders are interacting with your applications or services. Are you confident that everyone within the organisation can understand the information? Is it being used to inform decision-making to improve the effectiveness of your organisation? If the answer to these questions is no, then talk to us today to see how data visualization could benefit you.
If you’re interested in a great visualisation on just how much data is generated every minute, then take a look at this infographic