Graphs are visual representations of data or information. It contains essential components of data which show trends and patterns in increasing flow of data. With the help of visual aid a large amount of data can be seen and quickly analyzed at one time. A business man can make predicted and informed decisions by looking at analytics at graphs. There are many kinds of graphs to be used in presentation and data analytics. A box plot is one of its kind which gives brief information of data at a glance and can be made using Box Plot Calculator.
Instead of looking at a long array of data in statistics a graph or data visualization can be used to illustrate the relationship between variables and highlight important data. Data has significance when it is consumed and gives meaningful information. Data is best presented with graphs and charts like box plot graphs which can be made using Box Plot Calculator. Graphical representation tools are designed with human perception to easily understand. Graphical presentations use different sizes, shapes ,colors and quantities which humans can process easily.
Why are charts important?
A chart contains text ,symbols or graphics to show relationships between multiple data sets.
A bar chart, for example, can be used to display sales data. How the sale of a certain ice cream flavor has varied over the last five years.It can instantly be seen in the bar chart.
Why Are Charts Important to Businesses?
Business presentations and reports contain at least one chart and may contain several. A big reason for using charts is that quick information is conveyed through it. For viewers it is easy to understand the data. It helps businessmen to make quick and informed decisions and take action on them.
Companies nowadays are more data driven and follow the data therefore charts have become a need of the day and chart making tools are in demand. These visual aids help business executives to get a pulse of information and department heads to examine the result of a new strategy or campaign. Charts show how effectively business has adopted the strategy and what changes have happened. Charts like box plot is simple and easy to explain and can be found by using Box Plot Calculator online.
Commonly used types of charts
Each type of chart has its own pros and cons therefore each chart is used according to scenario. Some common charts include:
A line graph represents the evolution of one or more variables through time, with the values shown on a Cartesian coordinate system. The trend over time or the relationship between variables is shown by the line connecting the data points.
Bar graphs are rectangular bars which are used to represent data. These are used to compare different categories. The length and width of each bar represent the quantity being compared. At a single glance you can see the highest and lowest value of data.
Area chart is used to show the whole change has taken part over a time where the whole is made up of multiple parts.
A pie chart is a section of a circular disc which shows a representation. It shows the relative portion of the data. The size of the portion shows how big the small section of data it represents.
Charts and graphs are visual representations of big data. It shows percentages and important figures in business presentation. A box plot is a simple graph which also show points which are out of point figure and can be calculated using Box Plot Calculator