Unit – 4 :Graphs and Charts For Business Data
- Graph is a pictorial representation of data,which has at least two dimensional relationship.It has two axes X and Y.It is used to represent variation in values over a period of time.
- Charts are used to give information about the frequency of different quantities in a single pictorial representation.
Types of Charts
- Column Chart : Column chart shows a bar chart or bar graph with vertical bars.The height of each bar is proportional to its value. Categories are displayed horizontally( X axis) and Values are vertically(Y axis).
- Bar Charts: Barc Charts shows horizontal bars. The length of each bar is proportional to its value.
- Line Chart: The values of each data series in a line chart can be connected by a line. X axis shows the categories and Y axis shows values as points.It is used to display trends over a period of time.
- Pie Chart: A Pie chart displays the contribution of each value to a total. It represents multiple sub-group of a single variable.
- Exploded Pie Chart : In this type of chart one or several slices are separated from other.
- Donut Chart /Doughnut Chart: It is a Pie chart with a hole in the middle and it can display more than one series of data.
- Area Chart: Area chart shows values as points on the Y axis and categories on X axis. The values of each data series are connected by a line,the area between two lines is filled with a colour.
- Scatter Chart( XY Chart): In this chart both axis display values.It is used to show the relationship among two variables.
- Radar Charat : It also known as net chart or Star chart.A Net Chart has separate axis for each data category, and the axes extended from the centre of the chart.
Elements of a Chart /Graph
The different parts that make up a chart re referred to as elements.
- Chart Area: Entire area of the chart, which includes labels, data, axis etc.
- Chart Wall : It is the area in which chart is plotted.
- Chart Main Title/Subtitle: This is the explanatory heading at the top of the chart.
- Axes : A line that serves as a major reference for plotting data. X-axis, Y-axis and Z-axis.
- Data Point/ Data Marker: Individual values plotted in a chart and represented by bar,Column,line etc.
- Data Series : A group of data points.
- Legend : It is an identifier of a piece of information shown in the chart/graph.
- Data label : The value of the data series plotted in a chart is known a data label.
- Grid lines:These are the vertical and horizontal lines that appear in a chart.
Steps for Chart/Graph
- Enter the data which needed to create the chart/Graph.
- Select the data is needed for plotting the chart
- Plotting the chart, Insert ->Chart.
- Select the chart type, click Next
- In Data Range , select “Data series in column”, “First row as label” and “First column as label”. And click next.
- Under chart element enter the “Title” and enter labels for X axis and Y axis then click finish.
Advantages in Using graph/Chart
- Help to present data very easily.
- Help to convince the reader.
- Visually appealing
- Easy to read the data
- Quick analysis and interpretation of data with a little time
- To know the trends easily
- To grasp the data quickly
- A large volume of information can be exhibited through charts easily