Dissecting information and data and framing it into easy-to-digest models is essential for companies across all industries. Throughout the vastness of our digital world, it's crucial that people who use data models professionally can quickly and easily access information and present it in a manageable form.
Data visualization is a big part of how companies explore and break down data. It is one of the strongest tools for guiding future business decisions and identifying potential growth areas, which means the underlying industry that facilitates data visualization is very valuable for those who seek to predict upcoming trends.
What is data visualization?
Often used in company presentations or to strengthen marketing strategies or business projections, data visualization is the graphic embodiment of information. Infographics, animations, and bar and pie charts are some of the most common forms. However, in a world where graphic design has expanded into new territory, there are dozens of ways to present data.
The main reason visualization is so effective is that it makes it easier for the brain to follow. Colors and numbers help people to manage and digest information better than having to read a generic list or pages and pages of text.
The importance of color schemes
Color schemes have proven to be a practical way to keep people engaged. Even if the task and information at hand are mundane, bright colors have been shown to generate more interest, especially when compared to bland, generic color schemes. Musical illustrations and game design are multibillion-dollar industries that emphasize using the right depth of color in their design. Casino gaming in particular implements vivid, primary colors at all levels.
Bringing data to life through the art of visualization is a more impactful way to both jog people's memory and keep them engaged. Candy-themed slot games often use red and pink to capture the imagination, and jackpot themes hone in on gold and other strong colors to embed the mental image of the game and give it more of an aura in hopes of making it more memorable --- which is also the primary purpose of data visualization.
Latest trends in data visualization
Painting a story with data and implementing the latest developments in user interface (UI) technology grew in popularity at the beginning of 2023. Despite the emergence of AI, it remained a constant trend throughout the year. Analysts believe that it will continue to hold its position as a key trend but that the increased investment in collective AI will inevitably shift the direction data visualization companies take, potentially from Q2 2024 onwards.
Potential changes and predictions for 2024
Security remains essential in the digital sphere, and data visualization is a fantastic way to keep people informed about the potential threats that can emerge online. While AI is beneficial for some purposes, it could also morph into a threat, especially if it falls into the hands of malicious operators. This is why keeping up to date with the latest technology and cybersecurity is essential. Data visualization companies are set to use AI to help them break down more extensive, complex data blocks and crunch them into digestible presentations with critical human oversight.
Digitized, almost democratized forms of data visualization could become a growing trend. As tools become more sophisticated and gain the ability to create infographics and animations within a few seconds, data visualization could become a more decisive feature in short-form videos, such as TikTok, YouTube Shorts and Instagram Reels. With the influencer market set to continue expanding throughout this year, any animations or tools that help people build engagement and keep people hooked on their posts will be used to full effect.
Conclusion
In a world where the dissemination of information fuels misinformation and can lead to dangerous conspiracy theories, the ability for people to create their own data visualizations from proven sources and come to their own logical, rational conclusions will become more accessible than before.
Although it can be challenging to expect the average person to have the patience and time needed to collate sources and evaluate information and data visualization imagery, the fact that it is much easier to collate can only be positive as we head into 2024.
Many industries don't have monumental shifts in their current trends, and data visualization is certainly an example; its changes tend to be more slow burners, but if there is one prediction for the next 12 months we are confident making, it is that AI will have a much greater impact on the industry.