Is data valueable?

“How can data be so valuable?” That is the provocative question a friend asked me a few days ago. We had a good discussion about life, work and other fun things. My friend is an artist, by the way. Not a business person. And that created a bit of a challenge: how do you best explain the value of data in layman’s terms? Well, I ended up telling him a story that happened to me a few days before.

THE FREQUENT TRAVELER

It had been a long week. Four cities in four countries in four days. It was right around 11pm when I got to the hotel. All I wanted to do was sleep and forget everything about that day. It had been a tough day. Endless meetings, missed flights. In other words: I felt like reaching for the reset button. But things changed. At the hotel, I was greeted by a friendly front desk manager. He commented on the fact that I must be pretty tired (obvious observation – it was 11pm). We had a quick chat, he wanted to know where I came from. And without me really noticing he mentioned that he really admired frequent travelers like myself (huh? How did he know). He continued: “We are thankful for people like you. It is because of you that we are in business.” “Wow“, he said. “You must be one of our top customers. The are very few people that check in here that have spent as many nights in our hotels as you have.” He then gave me a nice upgrade to a fantastic room with great views. How do you think that made me feel? Well, it made a big difference and that is why I am so loyal to this hotel chain. This wasn’t the first time this had happened to me.

THE DATA IMPACT

Even a simple number can tell a great story

You are probably wondering where the connection with data is? Very simple: the hotel chain obviously has the data about all my stays in their systems. A very simple number. Not some fancy set of variances or complex data. Just a simple double-digit number for any given year. A simple SELECT sum(NIGHTS) from CUSTOMERS; Nothing more. But this business encourages its employees to look up this number and to actively use it to make their customers feel appreciated and special. That’s what the front-desk manager did. And guess what: This simple number allows the hotel to communicate three important things:

– We do know how much time and money YOU spend here
– We appreciate YOUR business
– We care about YOU

DATA IS THE NEW OIL

If a simple double-digit number can empower an employee to make a difference, think about the potential that lies in your ocean of data. What could you do with a few simple numbers to turn your customers and business partners into true fans? I believe we have a huge opportunity on our hands. As we continue to collect more and more valuable data we need to get started and continue to refine this data into real insights. And we have only scratched the surface so far. Why don’t you take a few minutes today to think about a single thing you could do with your data? Are there unexplored opportunities? What could you do today to make a difference?

Waterfall charts, pareto analysis and beyond

Waterfall Charts?

Do you like pies? I do! But not for analyzing data. Pie charts are just too busy and too hard to read in most situations. Yet they are the frequent tool of choice for visualizing the composition of a certain variable. Take a look at this example: I want to find out how total revenue is split between different product categories. The easy choice would be to create the following chart:

A product pie - created with IBM Many Eyes

Personally, I don’t like this! You constantly jump around the different pieces and it is really tough to obtain the overview that we are looking for. Pie charts work for few variables that account for larger pie slices. Another and better option is to use a bar chart. To make it easy for the viewer, I ranked the values in IBM Cognos 10:

Ranked bar chart - much better!

Isn’t this much better? You can quickly identify the best performing products. It is easy to read the individual contribution of each product. But I am not able to see my total revenue amount. Good news – there are different ways to perform this type of part-to-whole analysis

CHASING WATERFALLS

Waterfall charts (sometimes called Progressive Charts) allow us to visualize the composition of the a value along different segments. In plain English: Total revenue can be visualized as a build up of the different individual values of the products. Take a look at the example below. The values are once again ranked:

Waterfall Chart
A classic waterfall chart: Total revenue across products

Notice how quickly you can see the segment revenue along with the total revenue of roughly 540 million. I personally like the clean and uncluttered look. Reading the individual values is a bit harder than in the traditional bar chart. But IBM Cognos 10 allows me to hover over each segment to obtain the actual value. It’s personal taste which chart is more effective. Here you can see both versions side-by-side.

Which chart is your favorite?

Waterfall charts are great for any kind of part-to-whole analysis: revenue/ margin across products, customers, channels.  Composition of Profit across the P&L, etc.. There are a few interesting examples on Wikipedia.

THE PARETO CHART

There is yet another great option for displaying this type of data: Pareto Charts. They are are named after the Vilfredo Pareto who proposed the 80/20 principle. This chart simply enriches the bar chart we saw earlier with a cumulative percentage line. Take a look:

Pareto Chart
The Pareto chart: The cumulative percentage line adds further context

This graph allows us to quickly answer questions such as: Which products create 80% of my total revenue? (roughly everything up to Alpha Bronze). In other words: the pareto chart allows me to identify the most important items.  IBM Cognos 10 allows different customization options which I would highly recommend looking at. Hiding one of the axis is not a bad idea, for example. The use of colors could be helpful here to identify the main product categories:

Colors allow the user to identify the main product categories

Waterfall Chart vs Pareto Graph?

Seems like a lot of options, right? Which one is the best? Can’t say. It really depends on the situation. I like all of them. There are slight differences and it depends on the user. Waterfall charts are probably better suited for executive dashboards. Pareto charts are more likely useful for analytical purposes. And the classic bar chart is always is a winner. Try to add these charts to your tool-box! And drop those pies.

The ultimate rolling forecast workshop

Having fun at the workshop

Forecasting is a critical topic for many companies these days. No big surprise: the volatility and the speed in the world requires organizations to stay agile. About four years ago, my team and I started working with several customers and thought-leaders (David Axson, Steve Morlidge) to collect best practices for forecasting in these turbulent times. The results of the countless hours of talking, brainstorming, analyzing and reading are captured in the IBM Cognos ‘Best Practices in Rolling Forecasts’ workshop. This workshop ended up being way more successful than any one of us would have ever imagined. I have personally delivered over 100 of these events in the past three years.

THE WORKSHOP FORMAT

Forecasting is a complex topic and we were able to collect a full library worth of experiences. But simplicity rules and we selected the most interesting aspects

David Axson is showing the way!

to fill the agenda for a half-day workshop. That creates more focus and the attendees leave with just enough ideas to drive change in their organizations and without feeling overwhelmed. The overall focus is on the business process and not software. While we share a lot of best practices, the workshops are very interactive. We usually have extended and very fruitful discussions amongst the participants. Many attendees stay after the official event ends to continue their idea exchange. This is one of my favorite parts. There are always many things to learn.

BEST PRACTICES AND MORE

Static vs rolling forecasts?

So, what do we cover? A lot! The focus is clearly on proven practices that were identified by our customers. But it is also important to look beyond those things. We therefore injected some thought-provoking ideas from our thought-leaders. And each workshop we run typically provides new ideas, stories and experiences that we leverage to enhance the materials.  It would be too much detail to cover in this post but here are some of the things we discuss:

  • Is a rolling forecast right for your organization?
  • What’s the right time horizon? 90-day? Four quarter? Six quarter? Three year?
  • How often should you update the forecast?
  • How do you use a rolling forecast as an early alert of threats and opportunities?
  • What is the role of scenarios?
  • What role can driver-based modeling and tools play in the forecast process?
  • How do you sell the need for a rolling forecast?
  • What does the business case look like?
  • How can you measure the efficiency and effectiveness of your process?

IT’S YOUR TURN NOW!

If you are considering to make changes to your forecasting processes or if you are working in the IT department supporting Finance, you should join one of these workshops. It is a great opportunity to meet other finance & IT professionals and to get solid ideas. Believe it or not, but we have had several customers attend multiple events. They simply liked the interaction with the other professionals so much and they felt that they got a lot of value out of each workshop. Check out my events page to find out about upcoming dates or simply drop me a note. Hope to see you soon!

Scatter charts – Good for relationships

SCATTER CHARTS – THE BASIC IDEA

One of the interesting and really fun things to watch is young kids learning about cause and effect. They pull on a string and music starts playing. They giggle. They push a car and the car begins to roll. And so we learn to be curious at an early age and we learn to look for cause and effect relationships. And this an especially useful skill to have in business. The discovery of relationships can help us make better decisions: what happens to our revenue, if we increase marketing spending, what happens to our customer inquiries if we lowered the price of our top product? Answers to these questions can provide valuable insights.

WHAT IS THE RELATIONSHIP?

How can we go about testing and identifying these relationships? One option would be to combine two data sets in a chart. Let’s say we wanted to analyze the relationship between our price and customer inquiries. How do customers react to a price increase or decrease? We could create a combination chart for our products which outlines the price (red line) and the inquiries (green bars):

Product Alpha - Is there a correlation between price & inquiries?
The product Charger - higher correlation?

When you look at these charts it seems that there is a loose relationship between price and inquiries for Alpha but a stronger relationship for the Charger product. But it is hard to really tell. Especially for Alpha. Overall, this chart is not all that useful. We need more information.

SCATTER CHARTS

This is where scatter charts come in handy – they allow us to quickly analyze the relationship between two numeric variables. We basically take a regular Cartesian 2D coordinate system with our two numeric variables plotted on each axis. The general norm is to plot the independent variable (in this example the price) on the horizontal axis and the dependent variable on the vertical axis (customer inquiries). Here is a simple example that I created with IBM Many Eyes:

Scatter charts
Marketing Spending and Revenue

The dots represent the values for individual marketing campaigns. We mark the amount of  spending on the x-axis and the resulting revenue from the campaign on the y-axis. We can easily tell that there is a relationship between marketing spending and revenue – we could almost draw a line between the dots. There is just one outlier on the bottom of the right-hand side.  By the way, it is really easy to create these charts with IBM’s Many Eyes tool. Check it out when you get a chance!

PRICE AND INQUIRIES

Back to the initial problem. Let’s see how price sensitive Alpha and Charger are. Let’s take a look at the resulting scatter plots. We have created these charts in Cognos 10 using the same data set. We have also included a trend line to make it easier to see a potential correlation:

Scatter charts in Cognos 10
Same data in a scatter chart. This makes more sense

Both of these graphs now tell a clear story: Alpha’s dots are literally scattered throughout the chart. There are plenty of outliers. This shows that there is just a weak correlation between price & inquiries. The picture is different for charger: The dots are more clustered and we can draw a good line, i.e. the correlation is pretty high.

SO WHAT?

Scatter charts are pretty simple to create and they do tell a good story if used for the right purpose. They are also ideal for large data volumes. However, they do ignore time. The combination charts I showed above would do a better job at that. But if we want to focus solely on the relationship, the scatter plots are better suited. Even though scatter plots are relatively easy to read, I would not recommend using them in an executive dashboard. You definitely need to know how to use them. They are probably better suited for analytical people. Also, keep in mind that while these charts help identify relationships pretty well there might still be other influence factors. But that is really common sense. So, next time you want to explore your data in a different way try scatter charts!

 

Vienna calling!

Harald Hornacek
A famous host: Harald Hornacek

Greetings from Vienna: home of the schnitzel, yummy dumplings and lot’s of amazing history. But Vienna is also the hub of many successful companies. Today is the third European IBM Finance Forum 2011. We have had a great day so far. Lot’s of attendees from the Finance & IT departments of different Austrian businesses and government agencies. The agenda here is once again packed with Finance content. And as in all the other locations, we also have some great speakers. The event in Vienna is hosted by Harald Hornacek, chief editor of the popular business magazine Succeed. The magazine is distributed by Austrian Airlines and flyers love it for its fresh and meaningful content. Harald is quite famous in the Austrian and European business community for exactly that reason. The attendees have a great time listening to his insightful comments and questions. But let me back up for a quick second. There was another Finance Forum in Zurich last week.

HIGHLIGHTS IN ZURICH

The Dolder Hotel, Zurich

The Finance Forum Switzerland was held at the famous and gorgeous Dolder Grand hotel. It is situated high above the city with breathtaking views left and right. Steve Morlidge, the author of ‘Future Ready‘ delivered a refreshing keynote about best practices in forecasting. He will be speaking at many different Finance Forums across Europe this year. We also had a customer speaker from a 500 year-old company (can you believe that?): Mr.Binzegger from Orell-Fuesseli talked about their innovative use of SPSS software to develop highly accurate credit ratings for companies. We also heard Mr Wirth from Nycomed talk about how to build an effective reporting and information strategy in a global environment. The Dolder Hotel staff also served up some amazing food and coffees during the break. Great event.

VIENNA CALLING

Back to the event here in Vienna. It’s been a bit of a mad rush for me in the background. I left home on Sunday morning to run two Rolling Forecast workshops with close to 40 CFOs from different companies in the Middle East on Monday and Tuesday. Wednesday morning we found out that one of our customer speakers in Vienna ended up calling in sick and I jumped in with a different presentation last minute. We are about to start a panel discussion between different customers and experts.

NEXT STOP BUCHAREST

Hopefully you will get the opportunity to join one of the IBM Finance Forum events in the next few months. As you can see, we always have great speakers, great content and also lot’s of valuable discussions. Knowledge exchange and networking is a critical part of this. My next event is scheduled for May 4th in Bucharest. To see more photos from all the different events click HERE. See you soon!

20110414-015537.jpg
Vienna: Vista 3 - The location fro Finance Forum
20110414-015607.jpg
Finance Forum: Many great discussions
20110414-015715.jpg
Collaborative BI: A real-life scenario

Why bubble charts are cool

Things can be complex. Especially when we look at multi-dimensional data-sets. The objective of charts is to visualize data in the most effective and easy way. You shouldn’t need a PH.D. degree to decipher a complex chart. But it happens. There are a lot of complicated and useless charts out in dashboards. And it happens more often than we think. For example: Once we reach more than 2 dimensions, many people reach out for 3D charts. Let’s say we want to analyze market size, market share & margin. Many people are tempted to simply create a 3D bar-chart like the one below:

Chart 1 - Is this useful?

There are a lot of obvious problems with these type of charts: The dimension have different scales and it is therefore impossible to decipher. And let’s be honest – this looks super ugly. I could not, would not make a decision based on this chart. The other option is to break this out into multiple charts. But that requires a lot of space – and space is tight in a good dashboard. Analyzing numbers would also be more difficult in that setup as we have to shift our view from one chart to the next.

THE CASE FOR BUBBLE CHARTS

There is a better way to display this type of data. My boys loves this chart type: Bubble charts (all kids love bubbles!). Bubble charts allow us to visualize three different measures at the same time. And not only that: they are easy to read and they allow us to make critical associations between these measures. Let’s have a look at an example: This is a classic bubble chart that displays three different measures: Late shipments, damaged shipments and shipping cost for different carriers. The first two measures are obvious – they are represented by the x and y axis. The shipping costs, however, are visualized via the size of the bubble.

Bubble Charts
Chart 2 - A classic bubble chart

Notice how easy it is to read this chart (which vendor has the best performance?). Depending on the problem that I am trying to solve, I could simple look at the top right area to find the black sheep that are super later and also careless. Or, I could first focus on the size of business that we do with each carrier by picking out the large bubbles. Pretty simple. Also notice how this chart allows me to combine three measures with different types scales: percentages and absolute values. The traditional 3D bar chart was useless.

THERE IS MORE

In Cognos 10, we can also turn any bubble chart into a quadrant chart. This is useful if you want to categorize your data a little further by using a common layout like it is used in a SWOT or market attractiveness analysis. Take a look at the bubble chart that we created using the data from the first Excel 3D example:

A classic bubble chart
Chart 3 - A quadrant bubble chart

This puts the data into further context and makes it really easy for managers to spot specific key points. For example, the attractive markets (high margin & high market share) are up in the right upper corner.

Cognos 10 also allows you to hover over each bubble and you will get the numeric details behind each bubble. This makes it really easy to explore the data.

Chart 4 - Use your mouse to explore

THE LIMITATIONS

As nice as the bubble charts are, they are certainly not perfect. Take a look at Chart 3 above and focus on the intersection of 11.5% Net Margin & 2% Market Share. There is a bigger bubble covering a smaller one. That can easily happen. A superficial glance over the chart can therefore be problematic because we would not notice this. Careful color choice could potentially help uncover these cases. This probably also highlights that bubble charts might not be an ideal solution for large data sets as there would be too many overlaps. But nothing is perfect, right?

cognos slider
A slider - easy to use

Also, keep in mind that bubble charts in their pure and simple form only provide a snap-shot in time. Time-series analysis has to be done in a different manner. But the good news is that Cognos 10 offers us sliders. We can use these sliders to walk through history and easily discover changes in the data.

LAST BUT NOT LEAST

One person who has really popularized the bubble charts is scientist Hans Rosling. He literally makes data fly. If you haven’t done so, make sure to watch one of his famous TED presentations.

Take a look at bubble charts! Consider them for your next project. They are easy to understand and they allow us to make critical associations. Chances are managers who have attended business school will certainly like them.  A friend of mine always says that managers are like kids. And kids like bubbles, right?

[twitter-follow screen_name=’cpapenfuss’]

Why sparklines sparkle in a dashboard

SPARKLINES SPARKLE

One of the key features of the dashboard in any car is the fact that it is on a ‘single page’. Car dashboards are usually very simple and it doesn’t take us more than a few seconds to familiarize ourselves in a new vehicle. Could you imagine driving a car with a complicated dashboard? Could you imagine having to scroll through multiple pages to get a speed reading while you are driving down the German Autobahn with 200 km/h? The answer is no.

THE CONSTRAINTS

Good management dashboards should be concise as well. Executives especially don’t have the time and patience to scroll through multiple pages of information. But that often creates a problem: We have a lot of information to show but there is limited space. This problem arises especially when we want to show trends. A typical dashboard might want to show profits, margins, win/loss ratios, revenue, pipeline across multiple regions. One way to display this rich set of data in a table. But tables are ineffective in quickly displaying trends. And they take up a lot of space. The other option would be to show multiple line charts. But those take up a lot of space as well.

THE SPARKLINE

Information design guru Edward Tufte developed a solution for this problem. He created a new but very simple chart called a ‘Sparkline‘. He describes them as “data-intense, design-simple, word-sized graphics”. In other words: sparkline charts are very small, yet they display vital trend data. Take a regular time series such as revenue by months. Stick that into a sparkline chart. Below is an example:

Simple sparkline charts

ELEMENTS

When you look at the example above, you will notice how easy it is to spot the general trend: the Conservative Party is loosing ground. You have also noticed the little dots. IBM Cognos 10 allows you to color code the low, mid and high point. (red, black, green). The Green Party is gaining. You can hover your mouse over the line to get the actual value. This type of chart simply provides the ability to obtain a quick overview of the general trend and all that within a very tiny amount of space.

SPARKLINES AT WORK

Sparklines truly show their full potential when you supplement them with metrics or other charts. Take a look the next example:

Sparklines in action

The above object allows us to review margins across regions. The sparklines quickly display the trend. The trend is supplemented with more detailed information. Notice how concise and compact the total object is. And here is an example where we can see the sparklines integrated into a regular dashboard:

A sample IBM Cognos 10 dashboard

The upper part allows us to quickly provide an overview of critical metrics across different dimensions.

SPACE SAVERS

In a prior blog post I discussed the bullet chart. Those charts are also quite small and highly useful. When you combine the sparkline with the bullet chart you have a powerful combination. Notice how much information we are able to absorb (trend, actual value, current performance). A traditional line chart would take up a lot more space.

Sparkling Bullets

SPARKLINES – A FINAL WORD

Sparklines are great for displaying trends. This is ideal for supplementing current information (e.g. YTD Sales). They are tiny, they are easy to use and they are easy to understand. However, they will not replace a traditional line chart. Line charts are definitely a better choice when you want to perform a more detailed analysis. Next time you build a dashboard try to incorporate some sparkling charts.

 

Finance Forum – EMEA v1.0

Just a quick hello from the road. It’s one of those very exciting yet extremely busy weeks. The IBM Finance Forum events finally kicked off in Europe. The first event was held on Wednesday in the beautiful town of Wiesbaden in Germany.

Which door would you take?

Wiesbaden is known for three things: It is the capital of Hessen, there are some natural springs that have healing effects and there is one of the few well known casinos in Germany. It is the beautiful casino building in the heart of Wiesbaden where the first Finance Forum for the season kicked off. We had a great crowd of well over 250 finance & IT professionals. I had the honor to deliver the IBM keynote. Delivering the keynote at these events is always exciting. But it is especially exciting this year: there are so many great and game-changing things to show.

Apart from many interesting customer & IBM speakers, we also have a few really interesting external keynote speakers. In the US, David Axson will be delighting the audiences. He is a true performance management visionary and inspirational speaker. Make sure to check out his latest book called ‘The Management Myth Buster’. In Europe, Steve Morlidge (author of the book ‘Future Ready’) will be sharing interesting insights about how to improve your forecasting processes. And there are some other speakers as well. Stay tuned for updates. Check out this link to find out about all the dates.

Below are some impressions from the day. I really hope to see many of you at our upcoming events. My personal schedule is update on this website.

Soundcheck at 7:30am
How cool is that? Multi-touch planning powered by TM1.
The Kurhaus in Wiesbaden...how nice is that?

Hands-up! Here comes a bullet chart

Executives often want to have a quick overview of some key metrics to find out what the state of their business is. Questions like: Are my margins on target? Is customer satisfaction within an acceptable range? What is the size of my pipeline? All this information is typically summarized in a dashboard. The easy thing is to simply put this into a table. But tables are hard to read. And they take up a lot of space. The other popular option is to put the data into a gauge chart. But gauge charts take up a lot of space, too. And if we are honest with ourselves: they are really hard to read. Granted they look cool. But do they tell a story in an effective and efficient manner? Probably not.

A BULLET

A few years ago, Stephen Few introduced a new chart that promises to fix the shortcomings of the above described approaches. It is very simple but powerful chart and it is called ‘Bullet Chart’. Cognos 10 allows us to leverage these charts. Below is an example:

Let’s take a look. The above example shows the election results of a fictitious political party. The blue bar in the middle indicates the actual value (4.8%). The short black bullet towards the top indicates a target measure (e.g. budget, forecast, etc.). Color shades display ranges of performance (e.g. poor, acceptable, good). We can quickly see that the party missed the target but the result falls into the acceptable range. It is indeed a very simple chart that provides a lot of information in a concise manner: Target, Actual, Performance Rating. In Cognos 10, you have the ability to set five different performance zones in different shades or colors.

A STACK OF BULLETS

One the things I like about the bullet charts is the fact that you can easily stack them. That makes the bullet chart an ideal way of communicating multiple measures in a dashboard. It is easy to get a quick overview and the stack is very space efficient. In Cognos 10, we can have vertical or horizontal bullet charts.

The stack of bullet consumes little space

CAUTION?

The are just two minor downsides that I see with the bullet charts. The chart in its pure form does not allow us to show the future trend or forecast. Also,  it does not display history. It is a simple snapshot in time. But the last shortcoming can easily be mitigated by combining the bullet chart with a sparkline. (I will look at sparklines in the next post)

Toss those gauges! Take a look at the bullet charts next time you design a dashboard. But make sure to train your users. Despite its simplicity, I have seen some people struggle to understand this chart. We don’t want our users to bite another bullet, right?

Charts? Yes, I know….

Dashboarding….Part 2.

Yes, we do know that we shouldn’t eat those chips. Yes, we do know that we should read more books. Yes, we know that we shouldn’t drink that much coffee. But…..BUT…..We all know that there are small things we can do that could really have a big impact on our life or job. But we still don’t do these extra little things but they take time and effort. We are all guilty of that. I am for sure. Most of us can tell some stories about that.

CRITICAL SKILLS

About a year ago I had a revelation. Together with two hundred other business and IT people, I was listening to a presentation about common data visualization mistakes. YAWN…. How exciting. A few minutes into the presentation it dawned on me. I actually didn’t know all that much about proper charting techniques. I had never actually paid much attention to it. By looking at the reaction of the other attendees around me, I noticed that they were in the same boat. How can that be? We are all professionals that are dealing with data on a daily basis. Yet, so many of us have never paid much attention to proper visualization techniques.

THE MAGIC PIE

What is the message?

That day I decided to make a change.  I felt a pressing need to learn more about charting techniques. And when you look around you can easily see that many of us need to make this change as well: We use ugly pie charts left and right, we create meaningless 3D visualizations and we connect data points that should not be connected. And that is not too surprising. Nobody ever really taught us how to properly visualize data and when to leverage which type of chart. To make things worse, nobody ever questions this. Executives seem happy with their colorful 3D charts. I will never forget the day when my then-boss at a traditional German company almost fell off his chair when saw a ‘cool’ 3D diagram I had produced with Lotus 1-2-3. But at the end of the day, many charts do a very poor job at telling a good story about the data.

DATA IS THE NEW OIL

Data volumes grow. The speed and volatility of business are increasing. As a result, we all need to make sure that we find meaningful trends and insights in our growing pool of data. There is a lot of insight to be unlocked. Many people are therefore saying that ‘data is the new oil’. But in order to really get the best out of our data we need to learn how to visualize it properly.

THE POWER OF VISUALIZATION

As John Medina points out in his bestselling book ‘Brain Rules’: “Vision trumps all other senses.” The nerve pathways of our eyes to brain are extremely powerful. John Medina continuous by saying that “Professionals everywhere need to know about the incredible inefficiency of text-based information and the incredible effects of images”. In other words: dry tables of numbers just don’t cut it. A picture says more than a thousand words. Let’s create charts that tell a powerful story. And those charts are especially useful when we utilize them in dashboards. Dashboards should be visual to allow users to quickly absorb and digest critical information.

CHANGE

Charts can convey a powerful message

We should therefore all take the time to learn more about charting techniques. And it’s a simple thing to do. Pick up a copy of one of Stephen Few’s books (see below for a list of recommended reading). Roam around the website of visualization artist David McCandless (I wrote about him a while ago). Play with your current numeric reports and put them into charts. Compare the different stories. Over the next few weeks, I will write some posts about some of the powerful charting options in IBM Cognos 10. IBM Cognos 10 comes with almost 160 different chart types. There are some fantastic tools in there that can really make your data fly. Make sure to follow along to get some tips and tricks.

Recommended reading: