Monday, August 1, 2011

personal finance









There are a number of services like this online already, but two things make Visually stand out. First, it appears that in the phrase data visualization, the company may focus more on the visualization than on the data. The gallery of infographics is beautiful. It appears heavy on color, text, fonts and design - more than being heavy on graphs or more complex ways of communicating deeply nuanced insights into information. That's what some other competitors focus on.

That's consistent with where the founders of the company came from: Mint.com. That wildly successful personal finance service gathered consumer finance data and then drew big picture conclusions about the state of the economy and consumer behavior. The resulting data visualizations were beautiful and a key part of driving consumer interest in the company's services. That consumer interest helped the company get acquired by finance giant Intuit in 2009.



Visually's co-founders are both from Mint; CEO Stew Langille was a marketing exec there, and Lee Sherman was the company blog's editor. (Disclosure: I actually recruited Sherman for that position as a part of the small consulting practice I do on the side, though before I was here at ReadWriteWeb.)



Mint reportedly didn't create its own infographics in-house; it gathered the data sets, then hired independent designers to visualize them. Then those infographics blew up on sites like then-hot social news site Digg and now-hot Reddit.



That strategy was parlayed into a great reputation for data visualization on the part of Langille and Sherman. Now they are working on a tool that will allow anyone to create such creative work for themselves. Visually also promises a search engine that will index "all existing Web-based data visualizations" (how they will be ranked and sorted, we don't know) and data warehouse that will help seed the visualizations of their customers.



The company has told press that it will charge power users $100 to $300 per month to use its tool and has said that it could "easily" be billing $300,000 per month just from client work it has secured, without launching any public tool at all.



If that's the case, it's not clear to me why the company is going to mess around with a long tail of customers at a low price point. Are there tens of thousands of organizations that are in a position to create valuable infographics, even with the help of the easy and effective tool that Visually is promising? I'm not sure. I'm also not sure that a demonstration app at launch that makes cute Twitter avatars based on the contents of your tweets are the most effective content marketing for a B2B service, but maybe it doesn't matter: the lust for infographic power is very, very strong.



As a result of that, there is no longer a shortage of other services online that promise to make it easy to create data visualizations. How Visually will stack up with ManyEyes or Tableau, much less visualization specialists for hire like JESS3 (apparently a Visually launch partner) or Bloom remains of course to be seen. Visually hasn't launched much so far, though 2,000 examples of infographic inspiration are certainly valuable.



It's widely believed that a tidal wave of value-laden data is just about to crash over the top of the Web and the world, though. As it does, huge pockets of opportunity should appear for new service providers to offer new forms of value. Data visualization is going to be a big area of opportunity for services like Visually and for their customers.















The 25 Documents You Need Before You Die [Wall Street Journal] "Here is a rundown of the most important documents you'll need to have signed, sealed and delivered."

10 Costs That Can Ruin Your Retirement Savings [Smart Money] "Unknown fees in your 401(k) plans, IRAs and other retirement accounts can make a world of difference in your overall investment returns."

What You Should Never Say in a Job Interview [US News] "Here are 10 things you never want to say in an interview."

7 Reasons To Review Or Revise Your Will [Investopedia] "Read on to find out what life events should prompt you to re-examine your will and the consequences of letting this important document collect dust."

6 Myths about Renter's Insurance - and How to Save [MoneyTalksNews] "Who will replace [your belongings] if something happens [to your apartment]? Hint: Not your landlord."

— FREE MONEY FINANCE







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