Because of the way the human brain processes information, using charts or graphs to visualize large amounts of complex data is easier than poring over spreadsheets or reports. Data visualization is a quick, easy way to convey concepts in a universal manner – and you can experiment with different scenarios by making slight adjustments.
Data visualization can also:
- Identify budget line items or fund balances that need immediate attention or corrections.
- Clarify which factors influence employee overtime, retention, or training.
- Help you interpret current expenses and revenues compared to previous years.
- Predict future financial trends by department or funds.
- Project future salary and benefit budgets.