Data Visualization as a Strategic Tool in Assessing the Effectiveness of the Company’s Economic Activity in a Competitive Environment

Abstract

In a rapidly changing digital environment, companies face the challenge of quickly and efficiently developing economic solutions. Making effective economic decisions directly affects the competitiveness of the company in the market. This article raises the problem of assessing the efficiency of an enterprise’s economic activity associated with the study and elaboration of a large amount of data. Working with a large array of data and then analyzing them allows companies to get a detailed idea of how their business functions and what factors can influence its success. This approach is based on the use of mathematical and statistical methods, as well as on the use of special software tools that allow you to efficiently process and analyze large amounts of data. At the same time, the results of data analysis can be presented in the form of graphical reports that help to make more informed decisions based on the facts of the dynamics of development and contribute to improving the economic efficiency of the company. A graphical report refers to the presentation of data in a visual format with the designation of medians and exceptions. In this article, the methods of system analysis and synthesis, the method of induction, content analysis of scientific literature and statistical reviews on the subject under study were applied. With the development of the process of digitalization of the organization’s activities, data analysis has become simply a necessary tool in the process of developing and making cost-effective decisions. In the article, the authors substantiate the strategic importance of the use of data analysis in economics, entrepreneurship and business.