Graphs and charts are and will always be a part of our lives. This is most especially true when it comes to your professional career. I mean, how many meetings or seminars have you had to go through where you had to see a bunch of line graphs, bar graphs, pie charts, etc. I would surmise that it is quite a lot. Business graphs have been and will continue to be a huge part of commerce for the foreseeable future.
That is not to say that all business charts are effective. I mean, have you ever yawned or even dozed off when someone starts droning on and on with a presentation?. While this does not diminish the importance of graphs, it just means that there are ways to do it right. This is why a good graph maker like Venngage is becoming a hot thing right now. Apps such as these let you create excellent and effective business graphs through hundreds of templates, icons, photos, and fonts.
There is a good reason why apps like these are now widely used by us. That reason has to do something with the trajectory that businesses are going.
The world of commerce has been evolving at a faster rate ever since the internet entered our lives. Online stores like Amazon have dominated the shopping industry while advertising has slowly moved to the social media space. More and more traditional businesses are starting to pack up and take that giant step online.
While the evolution has been pretty wild, one constant thing is that graphs and charts are here to stay. The importance of these tools is even more pronounced in today’s entrepreneurial landscape. Let’s discuss the various ways business graphs are making noise to the commerce world.
1. Big Data is Going to Get Bigger
All businesses love data. It allows them to make more complex and informed decisions regarding their direction, processes, and marketing. The simple truth is, if a business has enough good data, it might as well be called a gold mine.
Let’s cite an example. Nowadays, technology can help you easily track your employee’s performance in a more specific manner. Questions like who falls behind in their work, who is the most efficient one, who needs training, who needs to receive good incentives, etc. There are a hundred more examples of these.
But data can be overwhelming. Imagine doing a ten-year sales report or five years’ worth of marketing trends. The awful truth is, as technology gets more and more efficient in storing data, the more information we have to contend with.
Various types of business charts are the only way to go here. You will need to use these tools to make it easier for your company to understand what all these data mean. Graphs and charts, when created and used right, can weave a story that is understandable to others in a swift manner.
This enables companies to use all this information and move accordingly, efficiently, and quickly.
2. Advertising Analytics is the Key
Look, data is not something new when it comes to businesses. Since the early days of commerce, companies have been trying to get as much data as possible from customers or potential ones. That is why older business models love doing surveys, focus groups, and fan mails.
The only difference now is that data is easier to obtain now that we are right smack in the thick of the digital age. Businesses can now talk directly to customers through social media and get specific, like figure out important things like age, likes and dislikes, and buying patterns.
A wise old advertiser once said, “Half the money I spend on advertising is wasted; the trouble is I don’t know which half.” This used to be true when we talk about more traditional forms of ads like commercials, billboards, and brochures.
That is simply not the case anymore. Statistical analysis can be applied nowadays, primarily online. Ads that you place on Google and Facebook contain valuable detailed analyses for businesses.
Qualitative data isn’t that hard to get in today’s world. It’s even going to get more detailed in the future as more exciting tech is revealed to the world.
All of this fantastic data is presented using — Yep! You guessed it; graphs and charts!
3. The Boom of Infographics
You have seen one or two of these if you like prowling your social media accounts. They are informative, entertaining, and highly stimulating. These are called infographics.
Infographics are becoming popular because we are what you call highly visual creatures. Meaning it is easier for us to retain information through the use of images and icons. That is why picture books are so practical to young children. In some ways, we still maintain that even when we are all grown up.
Infographics are quick, image-based, and fun. That is why out of all the visual mediums we use in advertising, it is considered the most effective one. Its ability to weave a story through data and retell it to us is pretty unparalleled.
Interestingly, it’s even more effective than a video presentation or a TV commercial. That’s quite a feat considering how cheap it is to make an infographic compared to those two.
Business Graphs are Taking Over!
As an entrepreneur, you must learn how to make different types of business graphs. Give your busy schedule some space and learn how to make these. If you don’t have the time, use a graph maker. Whatever it is you do, graphs and business are two things that will always go together!