In anticipation of his upcoming conference presentation, Cross-Enterprise Deployment: Banking Visualization of Analytics Results – Critical for Communication at Predictive Analytics World for Business Chicago, June 19-22, 2017, we asked Bryan Bennett, Professor at Northwestern University, a few questions about his work in predictive analytics.
Q: In your work with data analytic visualizations, what have you found are the keys to success?
A: The key is to make sure the analytics tells the correct story. Many people get so caught up in the visuals and charts but neglect examining the quality of the information presented. Once people put something in a chart, people tend to accept it without questioning their accuracy. It is critical for managers to continue to ask, “Does this make sense?” That also puts some of the burden on management understanding what analytics can and cannot do, as well as what looks good or makes sense.
Q: How does data analytics visualizations deliver value at your organization – what is one specific way in which it actively drives decisions or operations?
A: If utilized properly, data visualizations can help in the decision-making process. Instead of having to pour over table after table, manager can very easy see which alternative they should choose or which product is selling more or which region is performing better. A good example is using good visualizations for management dashboards. A good dashboard will help management easy see where they need to focus on or ask questions about which leaves them time to focus on other issues that might be pressing in the organization.
Q: What surprising discovery or insight have you unearthed in your visualizations?
A: If visualizations are done properly, they should be able to tell the complete story and enable management to make good decisions. Many people try to use every visualization available to them or put too many visualizations on one page which can confuse the audience. Keep it simple is still the best advice.
Q: Sneak preview: Please tell us a take-away that you will provide during your talk at Predictive Analytics World.
A: Visualizing analytics is a iterative process that requires an understanding of analytics, how people perceive information and how to effectively use colors and shapes to draw the eye to the important stuff.
Don’t miss Bryan’s conference presentation, Cross-Enterprise Deployment: Banking Visualization of Analytics Results – Critical for Communication on Tuesday, June 20, 2017 from 11:20 am to 12:05 pm at Predictive Analytics World Chicago. Click here to register to attend. Use Code PATIMES for 15% off current prices (excludes workshops).
By: Eric Siegel, Founder, Predictive Analytics World
Eric Siegel is the founder of Predictive Analytics World (www.pawcon.com) — the leading cross-vendor conference series consisting of 10 annual events in New York, Chicago, San Francisco, Washington DC, London, and Berlin — and the author of the award-winning book, Predictive Analytics: The Power to Predict Who Will Click, Buy, Lie, or Die – Revised and Updated Edition, (Wiley, 2016).