Types of Charts 4 02 Understand charts and

Types of Charts 4. 02 Understand charts and graphs used in business. Slide

What you need to know: • This objective will explain six common charts used in business. The object of the game in this objective is to understand how each chart is used to communicate information. • For example, if you are trying to compare the sales of Honda Civics to the sales of Nisson Altimas, what chart will best explain the data? 4. 02 Understand charts and graphs used in business. 2

How do you know which chart to use? • In this Power. Point, each chart will be defined and described with an example of the data it is most appropriately suited to represent 4. 02 Understand charts and graphs used in business. 3

Column Chart • The first chart we will study is a Column Chart • It is used to make comparisons about groups of data 4. 02 Understand charts and graphs used in business. 4

Column Chart This chart compares Senior, Junior, and Sophomore attendance rates at assemblies over a period of four months. 4. 02 Understand charts and graphs used in business. 5

Compare • View the next four slides to compare how the Spirit Participation data is represented in different charts and then decide which chart makes the most sense of the information • Remember, you are comparing attendance rates of students over a period of four months 4. 02 Understand charts and graphs used in business. 6

Stacked Bar This chart focuses more on each group’s contribution to the whole for any given month 4. 02 Understand charts and graphs used in business. 7

Line This chart would be okay if we were analyzing trends in attendance rates, but it does not provide a good side-by-side comparison 4. 02 Understand charts and graphs used in business. 8

XY Scatter This chart is trying to determine if there is a correlation between the month and the attendance rate 4. 02 Understand charts and graphs used in business. 9

Pie Finally, this chart is useless for representing the data because it only allows for one data series. 4. 02 Understand charts and graphs used in business. 10

What did you think? • Which chart best represented the data? • Why? 4. 02 Understand charts and graphs used in business. 11

Stacked Bar Chart • The next common business chart we will view is a Stacked Bar Chart • It is used to represent the contribution of individual items to a whole • Each bar is divided into two or more parts • The length of the stacked bar represents a total 4. 02 Understand charts and graphs used in business. 12

Stacked Bar This example shows the contributions of three components: Computers, Printers, and Monitors to total sales during each quarter (three-month period) 4. 02 Understand charts and graphs used in business. 13

Compare 4. 02 Understand charts and graphs used in business. 14

Column This chart does not accurately represent the contributions of each part to the whole and is instead comparing them against each other 4. 02 Understand charts and graphs used in business. 15

Line What about this chart? Can you clearly identify each component’s contribution to the whole? 4. 02 Understand charts and graphs used in business. 16

XY Scatter Why does this chart not work? 4. 02 Understand charts and graphs used in business. 17

Pie The chart only looks at one department 4. 02 Understand charts and graphs used in business. 18

What did you think? • Which chart best represented the data? • Why? 4. 02 Understand charts and graphs used in business. 19

Line Chart • The next common business chart we will view is a Line Chart • It is used to indicate trends in data 4. 02 Understand charts and graphs used in business. 20

Line Chart Which department showed the most growth? n. Which department showed a steady increase in sales? n. Which department showed a decline in sales? n 4. 02 Understand charts and graphs used in business. 21

Compare 4. 02 Understand charts and graphs used in business. 22

Column • To analyze the trends in this chart, the reader must read each data series separately and then make comparisons and generalizations • In the line chart, trends were clearly and quickly analyzed just by looking at the lines 4. 02 Understand charts and graphs used in business. 23

Stacked Bar Does this chart describe trends? 4. 02 Understand charts and graphs used in business. 24

Pie The pie chart fails to present all of the data 4. 02 Understand charts and graphs used in business. 25

What did you think? • Which chart best represented the data? • Why? 4. 02 Understand charts and graphs used in business. 26

XY Scatter • The next common business chart is an XY Scatter Chart • Used to indicate a correlation between two or more sets of data • A business example of an XY Chart is one that represents the effect (if any) of caffeine on worker productivity 4. 02 Understand charts and graphs used in business. 27

XY Scatter What affect did the wait time in the principal’s office have on pulse rate? What affect did the wait time in the doctor’s office have on pulse rate? This data is fictional 4. 02 Understand charts and graphs used in business. 28

Compare 4. 02 Understand charts and graphs used in business. 29

Column As you can see, if this chart is used, the data is confusing and not easily interpreted 4. 02 Understand charts and graphs used in business. 30

Stacked Bar This chart is also hard to interpret 4. 02 Understand charts and graphs used in business. 31

Pie The pie chart, once again, is clearly not the preferred chart for representing and communicating the data! 4. 02 Understand charts and graphs used in business. 32

What did you think? • Which chart best represented the data? • Why? 4. 02 Understand charts and graphs used in business. 33

Pie Chart and Exploded Pie • Pie Chart: Used to represent only one series of data – Examples: • % of each expenditure in a budget • % of each investment type in a portfolio – It answers the question, “What is the percentage of each part to the whole? ” • Exploded Pie: Used to emphasize one or more portions of the data 4. 02 Understand charts and graphs used in business. 34

Pie Chart Which item contributed the most percent to total sales? 4. 02 Understand charts and graphs used in business. 35

Exploded Pie Chart 4. 02 Understand charts and graphs used in business. 36

Review: Can you identify the charts? 1. Represents the contribution of individual items to the whole 2. Indicates trends in data 3. Makes comparisons about groups of data 4. Emphasizes one or more portions of the data 5. Represents only one series of data 6. Indicates a correlation 4. 02 Understand charts and graphs used in business. 37

That’s all folks. . . • Let’s get busy and chart some data! 4. 02 Understand charts and graphs used in business. 38

Stacked Bar 4. 02 Understand charts and graphs used in business. 39

XY Scatter 4. 02 Understand charts and graphs used in business. 40

Column Chart 4. 02 Understand charts and graphs used in business. 41

Exploded Pie 4. 02 Understand charts and graphs used in business. 42

Pie 4. 02 Understand charts and graphs used in business. 43

Line 4. 02 Understand charts and graphs used in business. 44