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How to Unlock Value in Data Using
Data Visualizations [#VIZ]
Chaitanya Sagar “CS” [email protected] 646.583.0001
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Data Analytics Spreadsheet Solutions |
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New York Hyderabad San Bruno Boston
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Analytics Spreadsheet
Solutions
Our Services
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Spreadsheet Applications Contract Negotiation Litigation Modeling Decision Support Tools
Dashboards Reporting Simulations Financial Modeling
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Analytics Spreadsheet
Solutions
Data Visualizations Marketing Marketing Mix Modeling Price Promotion Analysis Catalogue Optimization Segmentation Web Analytics Churn Analysis
Risk Management Credit Risk Management Liquidity Risk Management Capital Allocation Analysis Collateral Management Fraud Detection
Supply Chain Inventory Optimization Demand Analytics Distribution Network Optimization Sourcing Analytics Freight Lane Analytics
Verticals Banking, Financial Services and Insurance Consumer Packaged Goods Retail
Our Services
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Location Strategy to Improve Effectiveness of a Branch Network
perceptive-analytics.com/tag/case-study/
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Reinventing Coupons: Strategies for Successful Coupon Campaign
perceptive-analytics.com/tag/case-study/
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Data Visualizations
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Kina, Inc. is a hi-tech company based in Silicon valley. The company’s operations were growing and wanted to track the cash flows in end-to-end business process. The CFO of the company wanted to project future cash requirements.
A comprehensive financial model which integrated the working of different departments was built. The model performed scenario analysis at various levels of sales and inventory investments to estimate the cash requirement. This model was presented to the executive board of XYZ, Inc.
Financial Forecasting Tool for a Silicon Valley Startup
Cash Position Is the company investing
or accruing cash?
Net Margin Is business profitable?
Net Sales How fast are
revenues increasing?
Avg. Selling Price Is the average sales price picking
up?
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Overview
Pic
y H
ori
a V
arla
n
[email protected] 646.583.0001 #VIZ 9
The need for visualizations
How visualizations help unlock value
How to build visualizations
-Purpose
-Design
Tools
Q&A
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Which Industry Do You Work In?
• Banking, Financial Services and Insurance
• Management Consulting
• Retail and CPG
• Information Technology
• Others
[email protected] 646.583.0001 #VIZ 10
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Which Function Do You Work In?
• Analytics / BI
• Sales and Marketing
• Operations / Human Resources
• Finance
• IT
[email protected] 646.583.0001 #VIZ 11
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The Need for Visualizations
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Our Needs Outgrew Charts
More data!
high dimensional
ˠ
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Humans are Visual
Brain can absorb large amounts of information and find patterns (and deviations!) P
ic b
y D
an F
oy
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●
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“Mind is a Pattern-Matching Machine”
Edward De Bono Mechanism of the Mind (1969)
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x y x y x y x y
10 8.04 10 9.14 10 7.46 8 6.58
8 6.95 8 8.14 8 6.77 8 5.76
13 7.58 13 8.74 13 12.74 8 7.71
9 8.81 9 8.77 9 7.11 8 8.84
11 8.33 11 9.26 11 7.81 8 8.47
14 9.96 14 8.1 14 8.84 8 7.04
6 7.24 6 6.13 6 6.08 8 5.25
4 4.26 4 3.1 4 5.39 19 12.5
12 10.84 12 9.13 12 8.15 8 5.56
7 4.82 7 7.26 7 6.42 8 7.91
5 5.68 5 4.74 5 5.73 8 6.89
Mean 9 7.5 9 7.5 9 7.5 9 7.5
Variance 11 4.122 11 4.122 11 4.122 11 4.122
Correlation
Linear Regression y = 3.00 + 0.500x y = 3.00 + 0.500x y = 3.00 + 0.500x y = 3.00 + 0.500x
Anscombe's Quartet
I II III IV
0.816 0.816 0.816 0.816
Anscombe’s Quartet
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How are the Data Sets Different?
• All four data sets are identical
• Distribution could be different
• Median and Mode could be different
• No comment
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Statistics May Hide Something
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Statistics and bikinis show a lot, but not everything.
- Toby Harrah American baseball player
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Where do Data Visualizations Fit in Data Analytics Process?
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Acquire Data
Clean Data
Explore Data
Data
Modeling
Insights
Communicate
Where does Data Visualization Fit in Data Analytics Process?
[email protected] 646.583.0001 #VIZ
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How Visualizations Help Unlock Value
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Make Sense of Vast Data Quickly
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Make Sense of Vast Data Quickly
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Elicit Questions You Did Not Ask Before
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What should we do to make India a land of equal opportunity for all, free of prejudice and discrimination?
- Ratan Tata
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Sample Responses
• @amitagarwal08 @RNTata2000 what can a common.man do to change india..it all depends on government n big people like u sir with gr8 respect..
• @bangaarm @RNTata2000 Budget 2012: This year is Tax Holiday. No income tax on your earnings. This is to bring back all the black money to India
• @sri_v22 @RNTata2000 1. Kill corruption 2. Electoral reforms so that honest ple can get into politics 3. Media & activists should increase their role
• @joseaaa @RNTata2000 Can't be articulated with 140 characters. Quality education for the masses is magic potion that can address most of the problem.
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Better politics? Corruption?
Family planning?! Fix capitalism Fix Education
Fix legal system
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Elicit Questions You Did Not Ask Before
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Discover New Data Relationships
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Discover New Data Relationships
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Show Others What You See
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Show Others What You See
http://guns.periscopic.com
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How to Create Visualizations
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Data
Analyst
Tool
Insights
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Data
Analyst
Tool
Domain / Situation
Imagination
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Process
• Understand your goals
• Determine the most important dimensions of your data
• Determine key data relationships
• Show data close to reality e.g. maps, time lines etc.
• Choose encoding wisely “Function first, suave next”
• Choose colors to communicate well
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[email protected] 646.583.0001 #VIZ
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39.0%
19.5%
9.8%
7.4%
3.1%
21.2%
U.S. SmartPhone Marketshare
RIM
Apple
Palm
Motorola
Nokia
Other
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Edward Tufte
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$450
$650
$850
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Monthly Revenue
470
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473
610 600
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$0
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Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Monthly Revenue
Tho
usa
nd
s Th
ou
san
ds
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Avoid Chart Junk
$0
$200
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Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Month
Monthly Revenue
Tho
usa
nd
s
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450 500
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$0
$200
$400
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Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Month
Monthly Revenue
Avoid Chart Junk Th
ou
san
ds
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400
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610 600
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J F M A M J J A S O N D
Monthly Revenue
Avoid Chart Junk
$0
$200
$400
$600
$800
$1,000
Jan
Feb
Mar
Ap
r
May Jun
Jul
Au
g
Sep
Oct
No
v
Dec
Monthly Revenue
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Maximize Data Ink Ratio Data-ink/Total ink used
Maximize Data Density (# entries in data matrix)/(area of graphic)
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[email protected] 646.583.0001 #VIZ 64
Analogous
Complementary
Ideas for Color Harmony
Use colorbrewer2.org
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ColorBrewer2.org
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Resources
Designing Data Visualizations Visual Encoding complexdiagrams.com/properties richardbrath.wordpress.com Edward Tufte edwardtufte.com D3JS.org Processing.org Principles of Visualization Design
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Q&A
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How to Unlock Value from Your Data with Visualizations
April 16, 2014
[email protected] 646.583.0001 #VIZ 70