Exploring the Impact of Visual Data Analysis on Digital Transformation Initiatives: A Case Study in Saudi Arabia's Oil Market

Abstract

This study aims to investigate the role and impact of data visualisation tools, with a specific focus on Power BI, in studying market forces and developments within Saudi Arabia's oil industry. The research aims to examine how insights derived from such visual analysis can inform and augment strategic decision-making processes for organizations experiencing digital transformation efforts. By focusing on Power BI, this study aims to show how efficiently this tool can be utilized to bridge the gap between raw data and actionable insights, eventually driving more informed and efficient decisions in the oil industry. Pragmatism has been selected to be the research methodology for this study. It is an approach that focuses more on pragmatic solutions and outcomes, which directly lines up with the objective of data analysis and visualisation on Saudi oil sector trends by Power BI. This research study focuses on the application of a quantitative approach as the basis for exploratory research on the role played by data visualisation tools in the analysis of market forces and trends within the oil industry in Saudi Arabia. This study determines that Power BI is an indispensable tool for organizations in Saudi Arabia's oil industry, particularly in the context of digital transformation. The research establishes that Power BI’s ability to provide real-time, actionable insights from complex datasets not only enhances strategic decision-making but also supports the broader objectives of economic diversification and sustainability. By leveraging data visualisation techniques, organizations can navigate the complexities of the global energy market, optimize their operations, and make informed decisions that drive long-term success.