Page 63 - Finanancial Management_2022

Putting the data to work the demand for self-service Heimo Losbichler, Ph.D., is professor
Digitalisation and big data will remain information and dashboarding. It also of controlling, and Lisa Perkhofer,
mere buzzwords if management emphasises the need for the right tools Ph.D., is research project manager,
accountants cannot transform data for easy integration of various sources both at the University of Applied
from various sources into and for newer forms of visualisation Sciences Upper Austria. To comment
understandable information. Our and interaction. ■ on this article or to suggest an idea for
five-step process shows how to another article, contact Oliver Rowe at
successfully integrate new data sources (Charts continue on page 24.) Oliver.Rowe@aicpa-cima.com.
into the reporting routine and satisfy

Interactive visualisation for assessment of distribution and correlation

A heat map represents data through a colour-coded system, and the format resembles a table, as it consists of rows and
columns. Although no numerical values are presented, they can be inferred by colour: Very dark and very light colours are an
indication of extremities.

Useful interactive visualisation in a dashboard

This choropleth visualisation is one of the
most used geographic visualisation types.
It applies the concept of the heat map and
transforms a colour code onto a map,
conveying different regions with different
granularity (countries, states, or
districts). Colours in different shades are
used to distinguish between regions with
high and low values. If a region attracts
interest, a deeper analysis should be
made possible by jumping into the next
hierarchy level, and if more choropleths
are used to visualise different variables,
interactions should be linked to view the
changes induced simultaneously in other
variables.
More information on how to use this
visualisation using wine industry example
data is available here.

FM-MAGAZINE.COM April 2022 I FM MAGAZINE I 23