Data analytics is a critical driver of business success in today’s highly connected, technology reliant environments. “Smart” everything—from self-driving delivery trucks to security systems to wind turbines—is creating a data flood, but none of that data is useful if the information can’t be made actionable and understandable.
Historically, data analysts have relied on Excel’s spreadsheets and two-dimensional graphs and charts to find meaning in and disseminate information from the data they collect. But this method alone isn’t efficient or powerful enough to analyze the huge volume of data even small enterprises gather in a short period of time.
Why Today’s Data Analytics Needs More Power Than Excel Can Provide
Data analytics can be broken down into four broad categories based on the kind of answers you need from the data and how you intend to use those answers.
Descriptive analytics tell you what happened. These are your metrics and other “hard facts” that provide information such as how many customers bought your product in June or how many oil filters are currently in inventory.
Diagnostic analytics give you information about why something happened by comparing different data sets and identifying patterns, interrelationships, and outliers. For example, region four experienced record high temperatures in July, which the data shows corresponds with above-average power outages at field sites in that region.
Predictive analytics help you plan for the future by identifying the probability of an event occurring based on past data trends and current conditions. Predictive analytics are used in industries such as transportation and logistics to pinpoint fleet parts that are likely to fail and initiate preventative maintenance initiatives.
Prescriptive analytics provide information about the best course of action to take based on the data analysis results. This approach relies on artificial intelligence and machine learning to understand micropatterns and analyze massive data sets, then prescribe a series of actions that will achieve the outcome defined by predictive analysis.
When you look at all of the ways data is being used in the enterprise as well as in Industry 4.0, it is immediately clear that an Excel spreadsheet and a bar graph simply aren’t enough.
The Power of Data Visualization
In today’s complex business, industrial, and manufacturing environments, data visualization is a must for extracting actionable information from the massive amount of structured and unstructured data that is being generated and collected across a multitude of widely distributed sources.
Virtualitics Immersive Platform (VIP) is an AI-driven data analytics and 3D visualization platform that was designed by a Caltech- and NASA-trained team to handle all of the use cases today’s business and industry require with power and efficiency.
VIP’s immersive visualization capabilities remove the noise inherent in most data analytics and present the data in a manner that is easily internalized and highly explainable—even to non-data scientist stakeholders. Excel users cannot make these same claims.
Excel vs. Virtualitics Immersive Platform for Data Analytics
Traditional data analytics tools, including Excel, worked fine when the amount of data to be analyzed could be managed using cells, columns, formulas, and the odd pivot table.
Now that multinational corporations are collecting and tracking data from sources ranging from residential refrigerators to pallets of sneakers loaded on cargo ships, speed and scalability are critical.
Here are six benefits VIP offers to take your Excel data and supercharge it for today’s data analytics:
Excel is prone to crashes, making it unreliable for critical data analysis. VIP can run in the cloud or on-premises, so the platform is always available to team members in the same space or distributed across multiple locations.
Excel lacks the automation organizations rely on for fast, efficient data analysis. With GPU-based processing, VIP can render and compute results from complex data up to 100 times faster than any other business intelligence tools.
Excel spreadsheets don’t tell the “why” behind the data, which is an essential factor in delivering data analytics results that can be used to drive action and decision-making. VIP’s immersive visualizations help users track alerts and visualize the data from multiple angles to pinpoint the root cause and quickly resolve issues.
Excel’s two-dimensional charts and graphs can obfuscate important data points. VIP uses 3D visualizations that allow users to easily find, visualize, and share insights, anomalies, and patterns that can easily get lost during Big Data analysis.
Excel lacks agility and scalability, two capabilities that are essential for Big Data analytics. VIP handles even the largest data sets with ease, using AI routines and machine learning capabilities to extract valuable insights and even recommend preemptive actions.
Excel spreadsheets are not an efficient vehicle for communicating important information to non-regular users of the tool. VIP’s intuitive, easy-to-understand geospatial, 3D, and graphical visualizations allow anyone—not just the data scientists—to extract actionable information from complex data.
Visualize the Future of Data Analytics
Excel will always have a place in business, but as big, complex data becomes the norm, Excel will be replaced by more powerful, AI-driven data analytics solutions.
Contact us to request a trial of Virtualitics Immersive Platform and see for yourself the difference multidimensional visualizations, AI routines, and GPU-based processing make in tackling your toughest data analysis needs.