Why Charts and Graphs are Essential for Company Data

Why charts and graphs are useful? You’ll also find a few tips as to how you can design them on analytics platforms. 

Charts and graphs – to some businesses, these are a way of life. But, to others, they’re seen as a huge menace. You need to update them and ensure that they’re displaying correct data. Otherwise, it will ruin its accuracy. Sometimes these tools can also be tricky to develop and occasionally require intricate data knowledge. 

While there are a few aspects you need to consider, charts and graphs have more pros than cons. Almost everyone can create one. There are also countless designs available, so you can choose the right one for displaying data. Besides this, they assist you with quickly interpreting statistics. 

This post will explore more about why charts and graphs are useful. You’ll also find a few tips as to how you can design them on analytics platforms

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Benefits of Using Charts and Graphs

 

There are countless reasons why charts and graphs are ideal for any company to implement. Here are just a few of their perks. 

 

They Identify Trends

 

A key benefit of charts and graphs is that they allow you to keep track of trends. This is critical in any business, and it helps you see where things might be growing or faltering.  

Charts and graphs are designed to assist you with monitoring and identifying trends. This allows you to keep an eye on areas of growth or concern. By doing so, you can make quick, yet informed decisions for your business. 

 

They Organize Large Quantities

 

You’ll also notice that charts and graphs help you store and organize large data quantities. This can be a huge help for companies that are unable to keep up with all their figures. By creating a chart or graph with the statistics, you’ll get a better understanding of how things are going. 

 

They’re a Visual Aid

 

One unique aspect of charts and graphs is that they’re a visual support. This can be very useful for those who have trouble reading or understanding data. By designing a chart or graph based on it, you can visually comprehend what’s happening. 

 

Types of Data Charts and Graphs

 

As you go to design a chart or graph, you’ll notice there are numerous options available. Here is a bit more about the most frequently relied-on selections and what they’re best for. 

 

Pie

 

This is a commonly used chart that’s ideal for showing percentages. It’s a great visual aid as you can color-code certain sections and even break down the segments. Keep in mind that pie charts are built for set numbers, not those that are constantly changing. 

 

Histogram

 

A histogram might appear similar to a bar graph, but it’s meant to help show variable distributions. It’s one of the simplest options and perfect for sales platforms. This is because it quickly adjusts its numbers to fit fluctuating figures. 

 

Dot

 

This option works almost like a bar graph and histogram, but there are some variations. Instead of showcasing a single variable, a dot graph displays many. However, each dot will represent a certain value. This makes it easier to identify large trends. 

 

Scatter

 

A scatter chart uses numerous dots to indicate values. It typically adds two variables together, allowing you to see how they match each other. Despite displaying many dots, it’s organized and easy to plot.

 

Bubble

 

As its name suggests, a bubble chart relies on bubble-like figures for data organization. Thanks to its setup, it can usually measure three variables at once. It uses x, y, and z values. 

 

Bar

 

Another frequently used selection, bar graphs are good for comparing or tracking changes. They’re ideal for those who need a graph that identifies trends well. 

 

Line

 

This graph is depended on for monitoring both short and long-term changes. It can display one or multiple lines that fluctuate based on the data. Line graphs are also helpful at quickly finding trends because they create clear variations. 

 

How to Add Charts and Graphs to Analytical Platform Dashboards

 

Many companies use an analytical platform to inspect key performance indicators (KPIs). This tool provides a plethora of visible aids you can try, like charts and graphs. But, while widely used, it can sometimes be a little confusing to know how to add a chart or graph to it. Below are a few steps you can follow to assist you. 

 

Step 1: Open the Dashboard and Click ‘Add Chart’

 

The first thing to do is log into the dashboard. After doing so, search for an ‘Add Chart’ option. This will usually be on the top tabs. 

 

Step 2: Select the Chart Style and Put in the Data

 

You’ll now want to choose the chart style. If you’re not sure which is right, be sure to reference the information above. 

After picking the chart, start typing in the necessary data. The chart builder will indicate where specific information needs to be.

 

Step 3: Activate It

 

Once you’re done building the chart and have reviewed it, click submit. The graphic will then be placed on your dashboard. 

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Tips for Making and Using Charts and Graphs

 

Pay Close Attention When Designing Them

 

One of the most important things to remember when creating charts and graphs is to be extra cautious when adding data. It can be easy to misinterpret or incorrectly input numbers on them. Even the smallest error can severely skew the numbers. This could lead to you making incorrect decisions for your business. 

Because of this, carefully add the statistics. When you’re done, it’s ideal to go over it once more just to confirm that it’s accurate. 

 

Always Label Them

 

A frequent mistake is not naming the chart or graph. This can be troublesome as users could forget what the chart or graph is displaying. It also makes it difficult for you to find information because you have to inspect the piece to understand it. To avoid this, always make sure to label the visual aid. 

 

Use Contrasting Colors

 

A handful of graph designers sometimes stick to making graphs with the same color palette. While this can be aesthetically pleasing, it can also be confusing. To make the graph bolder, use contrasting hues. This will emphasize the different portions. 

 

Don’t Go Overboard

 

Making graphs can be fun. You get to personalize them with various features, like 3D effects and fonts. But, while useful, it’s easy to overuse these settings. Instead, try to incorporate only a few. This way, your graph makes a statement and is simple to review. 

Charts and graphs are critical business tools that aid you in monitoring various metrics. By keeping this information in mind, you can determine which is right to use for your data.

 

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