Businesses and individuals both can benefit from using charts. They’re great for conveying complex information to investors or colleagues. They’re also easy to make and add a lot of emphasis to your presentation. So here are the world’s most ranked charts for businesses.
- Line Charts
Line charts are perhaps the most recognized charts in the world. They show the relationship between two different variables. You can also show three different quantities against the same variable on one graph.
- Bar Graphs
These are some of the most common graphs in the world. Bar charts have a heavier weight to them and can be presented both vertically and horizontally. They emphasize a point and stand out on the page as well. Bar graphs can be used to show very simple information like the sales of a product in a month. They can also be used to show the sales of different products in the same month.
- Combo Charts
What’s better than a bar graph or a line chart? Combining them together, of course. This is useful when you’re presenting two data series, which have different scales and can be expressed in different units. A very common example is to present money on one axis and percentage on the other axis. Make sure that you color the line and the bars in different colors. That way you can compare both series. The gap width for bars should also be reduced so that you can actually see where the line changes direction. That way you can spot changes in trends.
- Scatter Plot
A scatter plot allows you to show the relationship between two variables. These can be the popularity of a product over time, or the use of a product across age groups. Scatter plots does the work of showing trends between two extremes. While they work best for two variables that are changing, they can be used for other things. One of the best uses for it is regression analysis.
- Waterfall Chart
Waterfall charts are incredible tools for showing variance analysis. This pits various different quantities that are related to each other against each other. These include budget, volume, price, and variable costs. These quantities, though related, can be hard to visually connect to each other. That’s why waterfall charts show how one thing has changed relative to the original data point. For example, it can show how much of a product’s price includes variable costs. It can also show the actual cost of a project is vs. its budget.
This chart allows you to see the big picture and come up with ways to cut costs or increase budgets. The clarity that a waterfall chart grants businesses helps to simplify a lot of financial decisions.
- Pie Chart
Nearly everyone is familiar with pie charts. They’re shaped like pies cut into pieces with each piece signifying how large a quantity is. Pie charts have a bad reputation since they are known for being messy as well. However, the breakdown of a percentage or small data points can be shown perfectly on data points. The percentage of people who prefer using one brand of toothpaste vs another, one brand of shampoo or another, etc. These simple stats can be shown on a pie chart to provide a lot of clarity to business owners and business colleagues. By simply showing how one quantity is bigger or smaller than another, you can boil down stats to important insights.
Histograms are best used to show the distribution of a data set. Hence, they are best used to show how various quantities vary over years, population, gender, etc. It’s one of the world’s most used charts for business because it helps break up values into segments.
For example, you can show the distribution of age categories on a histogram. That way, a company or business can recognize how large or small their niche market is. Histograms can also graph how your key age group is divided between genders, income levels, etc. Hence, histograms are extremely useful for companies to chart out opportunities for marketing and production.
- Gauge Chart
Gauge charts are for single data points. They’re shaped like pressure gauges and odometers and emphasize one value on a single scale. Gauges are shaped like doughnuts or pies and show performance on a scale. This includes from fast to slow, good to bad, and efficient to non-efficient.
- Area Graph
Area graphs use solid areas to show stacked and accumulative data series. They can show the revenue, losses, and profits for different products in a single chart. The area will allow the reader to understand the relative magnitude of difference between the three quantities. Image charts can make some really colorful area graphs for your business to scrutinize financial data.
- Spider Chart/Radar Graph
Not many charts focus on the qualitative side of things. The Spider Chart/Radar Graph is perfect for that. It is a very useful chart for showing qualitative data or the score for the comparison of multiple series. A good example is that a spider/radar chart can compare three types of mobile devices on five features. These include processor speed, screen-to-body ratio, screen refresh rate, haptic feedback, and memory. You can’t compare all those features in so compact a chart except with a spider chart.
Image Charts will provide you with the best charts for your business. So, what are you waiting for?