1.03 CONTENT PAGE: Spreadsheets/Advanced Functions - Graphs and Charts
Charts and Graphs used in Business
Purpose of charts and graphs
Charts and graphs are used in business to communicate and clarify spreadsheet information
A graph is a pictorial representation of data. It includes the plot area, gridlines, and values. A graph is used in a chart. A chart is an enhancement of a graph that includes labels, legend information, titles, and color and adds meaning to the graph.
Whereas spreadsheet data is often filled with numbers, labels, and values that require time consuming analysis, a chart emphasizes and categorizes the spreadsheet information into a format that can be quickly and easily analyzed.
A chart is to a spreadsheet as a picture is to a thousand words
Examples of charts used in business
Represent sales trends within different departments of a store
Represent the contribution of individual employee sales to the total sales for a company
Represent the percent of each expense to total expenses
Analyze stock prices and explain the fluctuations to stakeholders
Components of Graphs and Charts
Graph
They-axisis the left vertical side of the graph. It contains the numerical data.
Thex-axisis the bottom horizontal side of the graph. It contains the category information.
Data markersare used in a graph to indicate data values.
Adata seriesis a collection of related values, such as one row or column from a spreadsheet.
Agridlineis a horizontal or vertical line that extends across the plot area of the graph for the purpose of adding clarification to the data.
Theplot areais the background portion of a graph. It is the area bound by the values (y) and categories (x) axes.
Atick markis used in a graph to clarify data categories or values.
Chart
Alegendis an object that explains the symbols, colors, or patterns used to differentiate the data.
Adata labelis a single value or text explanation used to explain the data in a series.
Achart titleis the main heading, which describes the purpose and content.
Thex-axis titledescribes the horizontal data.
They-axis titledescribes the vertical data.
Embedded and linked
Anembedded chartis one that appears on the same sheet as the spreadsheet it represents; otherwise, it is referred to as a separate chart.
Alinkedchart is one that will reflect changes made to the spreadsheet it represents.
Common Charts Used in Business
Acolumn chartis used to make comparisons and generalizations about groups of data, such as to compare the number of students from each class (Sophomores, Juniors, and Seniors) to their attendance at assemblies.
Astacked bar chartis used to represent the sum of more than one value and compare the contribution of individuals to the whole, such as the total sales for three components to the whole sales for a store.
Aline chartis used to show trends or changes in data over time, such as growth in sales over several quarters.
AnXY scatter chartis used to show the correlation of two or more data sets, such as the correlation between stress rates and wait time in a doctor’s office.
Apie chartis used to represent the contribution of each component of one series of data to the whole, such as the percentage of expenditures to the total budget.
Anexploded pie chartis a pie chart in which the individual components are enhanced.