Types of Charts. 4.02 Understand charts and graphs used in business.Slide 2 What you need to know:...

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Transcript of Types of Charts. 4.02 Understand charts and graphs used in business.Slide 2 What you need to know:...

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Types of Charts Slide 2 4.02 Understand charts and graphs used in business.Slide 2 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? Slide 3 4.02 Understand charts and graphs used in business.Slide 3 How do you know which chart to use? In this PowerPoint, each chart will be defined and described with an example of the data it is most appropriately suited to represent Slide 4 4.02 Understand charts and graphs used in business.Slide 4 Column Chart The first chart we will study is a Column Chart It is used to make comparisons about groups of data Slide 5 4.02 Understand charts and graphs used in business.Slide 5 Column Chart This chart compares Senior, Junior, and Sophomore attendance rates at assemblies over a period of four months. Slide 6 4.02 Understand charts and graphs used in business.Slide 6 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 Slide 7 4.02 Understand charts and graphs used in business.Slide 7 Stacked Bar This chart focuses more on each groups contribution to the whole for any given month Slide 8 4.02 Understand charts and graphs used in business.Slide 8 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 Slide 9 4.02 Understand charts and graphs used in business.Slide 9 XY Scatter This chart is trying to determine if there is a correlation between the month and the attendance rate Slide 10 4.02 Understand charts and graphs used in business.Slide 10 Pie Finally, this chart is useless for representing the data because it only allows for one data series. Slide 11 4.02 Understand charts and graphs used in business.Slide 11 What did you think? Which chart best represented the data? Why? Slide 12 4.02 Understand charts and graphs used in business.Slide 12 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 Slide 13 4.02 Understand charts and graphs used in business.Slide 13 Stacked Bar This example shows the contributions of three components: Computers, Printers, and Monitors to total sales during each quarter (three-month period) Slide 14 4.02 Understand charts and graphs used in business.Slide 14 Compare Slide 15 4.02 Understand charts and graphs used in business.Slide 15 Column This chart does not accurately represent the contributions of each part to the whole and is instead comparing them against each other Slide 16 4.02 Understand charts and graphs used in business.Slide 16 Line What about this chart? Can you clearly identify each components contribution to the whole? Slide 17 4.02 Understand charts and graphs used in business.Slide 17 XY Scatter Why does this chart not work? Slide 18 4.02 Understand charts and graphs used in business.Slide 18 Pie The chart only looks at one department Slide 19 4.02 Understand charts and graphs used in business.Slide 19 What did you think? Which chart best represented the data? Why? Slide 20 4.02 Understand charts and graphs used in business.Slide 20 Line Chart The next common business chart we will view is a Line Chart It is used to indicate trends in data Slide 21 4.02 Understand charts and graphs used in business.Slide 21 Line Chart Which department showed the most growth? Which department showed a steady increase in sales? Which department showed a decline in sales? Slide 22 4.02 Understand charts and graphs used in business.Slide 22 Compare Slide 23 4.02 Understand charts and graphs used in business.Slide 23 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 Slide 24 4.02 Understand charts and graphs used in business.Slide 24 Stacked Bar Does this chart describe trends? Slide 25 4.02 Understand charts and graphs used in business.Slide 25 Pie The pie chart fails to present all of the data Slide 26 4.02 Understand charts and graphs used in business.Slide 26 What did you think? Which chart best represented the data? Why? Slide 27 4.02 Understand charts and graphs used in business.Slide 27 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 Slide 28 4.02 Understand charts and graphs used in business.Slide 28 XY Scatter What affect did the wait time in the principals office have on pulse rate? What affect did the wait time in the doctors office have on pulse rate? This data is fictional Slide 29 4.02 Understand charts and graphs used in business.Slide 29 Compare Slide 30 4.02 Understand charts and graphs used in business.Slide 30 Column As you can see, if this chart is used, the data is confusing and not easily interpreted Slide 31 4.02 Understand charts and graphs used in business.Slide 31 Stacked Bar This chart is also hard to interpret Slide 32 4.02 Understand charts and graphs used in business.Slide 32 Pie The pie chart, once again, is clearly not the preferred chart for representing and communicating the data! Slide 33 4.02 Understand charts and graphs used in business.Slide 33 What did you think? Which chart best represented the data? Why? Slide 34 4.02 Understand charts and graphs used in business.Slide 34 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 Slide 35 4.02 Understand charts and graphs used in business.Slide 35 Pie Chart Which item contributed the most percent to total sales? Slide 36 4.02 Understand charts and graphs used in business.Slide 36 Exploded Pie Chart Slide 37 4.02 Understand charts and graphs used in business.Slide 37 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 Slide 38 4.02 Understand charts and graphs used in business.Slide 38 Thats all folks... Lets get busy and chart some data! Slide 39 4.02 Understand charts and graphs used in business.Slide 39 Stacked Bar Slide 40 4.02 Understand charts and graphs used in business.Slide 40 XY Scatter Slide 41 4.02 Understand charts and graphs used in business.Slide 41 Column Chart Slide 42 4.02 Understand charts and graphs used in business.Slide 42 Exploded Pie Slide 43 4.02 Understand charts and graphs used in business.Slide 43 Pie Slide 44 4.02 Understand charts and graphs used in business.Slide 44 Line