Study by BearingPoint on Advanced Visualization Tools
In a comprehensive study, the management and technology consultancy BearingPoint has examined the current use of advanced visualization tools in the automotive and manufacturing industry. The study shows that so far less than half of the companies surveyed use this software or have long-term plans to integrate it into their processes - despite the proven benefits. However, technological and practical obstacles are causing many companies to hesitate. Data visualization ("advanced visualization") is essential in every data-driven company today. It transforms data into visual elements, such as graphs or charts, making it easier to understand and use for important business decisions. Companies that already use these technologies report, among other things, greater transparency and increased efficiency in their processes. Despite this, only just under 48% of companies in the automotive and manufacturing sector make use of advanced visualization tools - including predominantly large companies with more than 500 employees.
Companies that have already gained experience with advanced visualization tools report increased transparency in their business processes. In the area of marketing, this is primarily expressed through an improved understanding of customers (64%), closely followed by an increase in turnover through optimized marketing (59%). Production and logistics departments report greater transparency in their cost and profitability analyses thanks to the use of Advanced Visualization (79%). In addition, 75 percent of companies reported shorter order and delivery times.
The main use cases for Advanced Visualization are increasing transparency, measuring process KPIs and simulating profitability analyses. Drill-through options, natural language generation and integrated data science functionalities are named as the most important cross-tool functions. With drill-through functions, a key figure can be analyzed within a diagram through several levels of detail. With natural language generation, a tool is able to create texts in different languages based on an existing data set. In addition, 60 percent confirm the trend towards multiscreen reporting in the presentation of reports.
