Given that people retain as much as 80% of what they see, data visualization can be extremely useful in the project management realm. In this piece appearing in PMTips.net, Aniruddh, Blogger and Software Analyst at SoftwareSuggest, explores the benefits of doing just this. Here are some of the benefits:
Data visualization transforms data into interactive and easy-to-comprehend graphics, allowing for quick analysis, discussions with colleagues, and implementation. Project managers should, therefore, integrate data visualization tools into their project management software to display data in a suitable visual format.
With visual data, teams can provide project statuses in the form of engaging graphics, such as tabulated formats, a heat map, or even a chart. This allows managers to keep a proper check on project variables, which include, KPIs, budget utilization, time utilization, risks, opportunities, and so forth.
Roles and Responsibilities
The integrated dashboard of the project management software gives managers access to information with regard to team members in a structured visual format. This can simplify the task of analyzing a project’s progress and can help chart the next move.
Analyzing Risks and Opportunities
Visualization tools can help managers analyze information in a well-defined manner. That aside, visual data can help determine future forecasts, give managers access to market data, help them visualize the market performance of similar products in the same region, and in so doing, identify both risks and opportunities.
Data visualization can contribute towards effective communication and collaboration with team members. These visuals allow members to easily understand data, choose a course of action, and even allow them to implement strategies in an effective manner. Besides, now that the project management software is centralized, members have access to complete information all the time. This ensures that they don’t have to rely on others for data, and even if they do, they can interact with other members in real time, and get the information they need.
Projects routinely fail because they do not effectively employ the data available to them. Therefore, managers should opt for project software with an inbuilt data visualization tool so as to effectively use the data at their disposal.
Click on the following link to read the original article: https://pmtips.net/blog-new/how-data-visualization-tools-can-enhance-your-project-management