How can the use of data visualization in financial reporting influence strategic decision-making in a company?

There are several alternative data visualization methods that can be used to communicate changes in budget allocation over time. Some of these include line graphs, bar graphs, pie charts, stacked area charts, and waterfall charts. Line graphs can show trends over time, while bar graphs can compare different categories. Pie charts can show proportions of a whole, and stacked area charts can show how different components contribute to a total over time. Waterfall charts can show the cumulative effect of sequential positive and negative values, which can be useful for understanding changes in budget allocation.

Data visualization techniques like bubble charts can be applied to other global companies like Apple or Google in a similar manner as they are used in financial reporting. These charts can be used to quantify and summarize the companies' departmental budgets. Large bubbles would imply significant budget areas, allowing viewers to easily understand budget priorities at a glance. The chart could also communicate changes in budget allocation from year to year, indicating shifts in strategic priorities or budget cuts.