A renewed focus on data visualization
Data is lifeblood of modern financial services companies.
Increasingly, data bout everything from security to marketing to trading is the key input. Companies that can intelligently analyze their own data will gain significant advantages in the marketplace. So as more companies get more savvy about data intelligence, it only makes sense for data visualization to eventually enter the discussion.
Last year, I suggested that a Golden Era of data visualization looms. Any time data analysis is involved, you pretty much have to think also of how to visualize it.
"Wall Street firms that are hunting for alpha, while keeping the regulators happy, are using new data visualization technologies to see which transactions traders should focus on, while their back offices are using visuals to help them sift through millions of data points to make sure each trade is compliant with regulators' demands," notes Wall Street & Technology.
The major benefit and challenge is to develop intuitive visuals that are jam-packed with relevant, tradeable information. Dashboards are all the rage right now. It makes sense, but there's a fine line between an entertaining animated pie chart and something truly useful.
As of right now, truly killer data visualization applications have proved elusive at many banks. But in some ways, the visualization movement is just now heating up. Lots of trends, including the rise of business intelligence, the rise of Big Data and the availability of lots of computing power, make it seem like a very natural move for many companies. But for it to really take off, it boils down to more than bells and whistles.
- here's the article
A golden era of data visualization looms