TITLE:
Role of Data Visualization in Finance
AUTHORS:
Md. Kamrul Hasan Chy, Obed Nana Buadi
KEYWORDS:
Data Visualization. Finance, Financial Statements
JOURNAL NAME:
American Journal of Industrial and Business Management,
Vol.13 No.8,
August
24,
2023
ABSTRACT: Even though data visualization has been gaining momentum in different fields
of study, Finance needs to catch up. There still needs to be more use of data visualization
tools to communicate with the financial and non-financial users of financial data.
Financial data or numbers are sometimes difficult to comprehend, even for the mid-and
low-level executives of a firm. In this study, we show how a firm can convey financial
information to users by utilizing data visualization tools. While some improvements
have been noticeable in filing proxy statements, there is still more room to use
graphs and charts in 10-K and annual reports. Firms should use graphs and charts more frequently so
that non-financial users can decipher the underlying meaning of numbers within the
shortest possible time.