Data analysis and visualization – the key to success in the age of digital transformation
Clive Humby, a British mathematician and entrepreneur, described data as “the new oil”. There are two ideas behind this metaphor: firstly, like crude oil, data is of great value. Secondly, they are useless without proper treatment.
In the age of digitization, when unimaginable amounts of data are generated, their professional analysis and visualization become essential. Data analytics is the process of transforming raw information into actionable insights that support making decisions.
Without it, organizations risk missing important information that may affect their business strategies or operational efficiency. Let us recall the words of Peter Drucker: “You can’t manage what you can’t measure”.
On the other hand, data visualization transforms raw, often chaotic sets of numbers into accessible and understandable information. This allows us to understand complex patterns and trends that could be missed when trying to interpret raw data. Proper visualization is conducive to the rapid absorption of information and decision making.
Nevertheless, incorrect data representation can lead to misinterpretations and wrong conclusions. An example of such a visualization is the winner of the infamous competition for the worst chart of 2020.
Although a low unemployment rate is a good unemployment rate, the order of data presentation on the x-axis can completely change the viewer’s perspective…
Chart 1. The worst chart of 2020; unemployment
Source: http://smarterpoland.pl/index.php/2020/12/plebiscyt-na-najgorszy-wykres-roku-2020/
Due to the growing importance of professional data analysis and visualization, the Warsaw University of Life Sciences (SGGW) offers a new postgraduate study program: “Analysis and visualization of quantitative data”.
They are an extraordinary opportunity for people who want to expand their analytical skills, gain practical experience in data interpretation and learn how to create clear visualizations. Future graduates of that postgraduate study program conducted by excellent practitioners will not only acquire theoretical knowledge but also practical skills necessary in today’s world dominated by data. Our students have a chance to increase their value in the labor market, e.g. by mastering the key tools necessary for the effective use of data in professional and research work.
Regardless of whether you are a manager striving for conscious decision making, a scientist looking for new ways of presenting discoveries, or an analyst wishing to expand their competencies – the “Analysis and Visualization of quantitative data” study program will provide skills that are the key to success in the world, where data is of paramount importance.
More about the new postgraduate study program at SGGW
Author: Dr. Paweł Węgrzyn, SGGW academic teacher