From Research and Development to Planning, the major aspects of every business is dependent on extracting useful data from clusters of data. Be it field services or financial management, smart data visualization is the need of the hour. In today’s digitally transformed world, data impacts decision making.
Technology is transforming various facets of the business world. Industry 4.0 is redefining the existing ways of working. For enterprises that make data-driven decisions, Virtual Reality (VR) and Mixed Reality (MR) based Data Visualisation is the paradigm shift. Be it automotive or engineering, field services or manufacturing, the business performance, product or service outcomes, and management decisions are data-driven. With the advent of cloud computing and digitization of data, there is a data explosion. Businesses are leveraging the goodness of VR and MR based data visualization to extract contextually relevant, real-time information. All number-crunchers and C-level leaders skeptical about the applications and benefits of Data Visualisation with immersive technologies, read on to know more:
Interactive data visualization enables the shift from data presentation or passive viewing to an immersive experience. Visualization with head-mounted displays has the potential to provide the user with the ability to select their own exploration paths, learning opportunities and means to examine points of interests from different angles or scales.
For instance, a business studying their logistics or supply chain management might be analyzing the costs and time involved, trying to find solutions for a cost reduction or improving efficiency. Traditional data visualization methods have always been factor A versus factor B. In a 2-dimensional data-sheet, it is difficult to compare ‘multiple elements’ that impact a particular operation. However, with immersive technologies like VR and MR, ‘clusters of data,’ that are inter-related can be easily visualized. Data from different facets of the company can be combined in any manner and viewed in 3D.
This level of access to different data all at one place enables businesses to make an informed decision. This enables them to identify two datasets that influence one another or find a pattern that results in a particular workflow efficiency or hinders it. It further gives them room to foresee & predict from their current dataset.
The need for data visualization
In field services or manufacturing, in a real-time environment, helps the business assess ‘what happens to this, in case of that or despite that.’ It further enables users to understand connections between operations and business performance, in just a few clicks.
Data are of no use if we cannot extract useful, actionable knowledge from them and do so quickly and efficiently. Although statistical codes and machine learning tools exist, there is a dearth of interactive and real-time data interpretation like VR and MR.
The essence of ‘Big Data’ is about discovering knowledge and insights into the data. VR and MR are natural platforms for collaborative data visualization and exploration. Users can interact with the data and with each other in a shared virtual space even if they are continents apart in the physical world. This facilitates easy number crunching for multi-national companies.
Another important facet of interactive data viewing in 3D is it is simple and intuitive to use. The datasets can be easily arranged, matched and viewed in the real-world environment, enabling quick data digestion.
Is a data visualization solution as simple as purchasing a head-mounted display like the MS Hololens and plugging some data? The answer is no.
So where does one start with the visualization process?
We’d say define, design and deploy.
1.Define the business use case
Identify the dataset that you’d like to visualize. 3D is an interactive data visualization. But it would mean little to view simple balance sheets in a Hololens. Whereas, predictive analytics or risk assessment can be efficiently viewed with the help of VR and MR. Therefore, the first step is to define the necessity for one.
2.Design a data feed program
A lot of enterprises mistake a technological solution for a replacement of their legacy systems. Be it artificial intelligence or interactive data visualization, the technology sources data from the company’s legacy systems. A head-mounted display (HMD) is the medium through which this visualization will be done. Therefore, it is important to pick and choose a solution that will help you tap into this existing resource. Design a solution tailored to feed data from your systems to the HMDs.
3.Deploy after a pilot
Once you have designed a Data Visualisation solution, pilot it in one arm of your business process, address the gaps in paper and reality and then deploy it across the business. A pilot also comes in handy to understand the cost of technology deployment and the benefits of the solution.
Some sources say that the amount of data being generated is doubled every year and that the amount of data being analyzed is less than one percent. Imagine the level of potential that can be tapped with appropriate data-driven decision making. Talk to our team of experts to explore your options.