TM
AvMetrix combines Business Analytics and Data Visualization to present KPIs (Key Performance Indicators) helping you identify trends, comparison and performance toward goals and objectives, and highlight any outliers.
Business analytics is the process of transforming data into business acumen to improve decisions. Business analytics can reveal previously unknown insights or identify issues to generate new business value. Business analytics can help firms increase efficiency, productivity, and profitability.
Data visualization translates complex data sets into visual formats that are easier for the human brain to comprehend. This can include a variety of visual tools such as:
· Charts: Bar charts, line charts, pie charts, etc.
· Graphs: Scatter plots, histograms, etc.
· Maps: Geographic maps, heat maps, etc.
· Dashboards: Interactive platforms that combine multiple visuals.
The primary goal of data visualization is to make data more accessible and easier to interpret, allowing users to identify patterns, trends, and outliers quickly. This is particularly important in the context of big data, where the sheer volume of information can be overwhelming without effective visualization techniques.
Let’s review one simple example showing the power of data visualization. The dashboard below provides numerous key metrics important to Acme Aviation for the month of October. Let’s look deeper into the chart indicated by the red arrow.
The single chart is highlighted below indicating Captain Bond burns more pounds of fuel per hour on average than the other two pilots in N526MS. It’s important to note the scale of the y-axis ranges from 2.78K to 3K, so the difference is not as significant as it appears in the chart.
We can go one step further as shown below and look at the fuel burn per hour by day and by pilot in command. It shows Captain Bond consistently flew the aircraft at a higher fuel burn rate than the other pilots. We don’t know why from the chart, but now we know specific dates and can look at the flight details for more information.
