Charts are commonly used to make sense of large quantities of data, to look for a correlation between various parts of data and to read raw data more quickly. Business charts are frequently used to identify trends and can help people make better business decisions.Continue Reading
The choice of chart used depends on the kind of information presented and the message to be communicated. Types of charts include line graphs, bar graphs, pie charts and Venn diagrams.
Line graphs are mostly used to show trends and to identify the correlation between two variables. In a line graph, the X-axis is the horizontal dimension, and the Y-axis is the vertical dimension on which data are plotted, with a line drawn to join data points together.
A bar graph shows the relationship between different data series. Different values are represented by bars; the longer the bar, the higher the value, and the shorter the bar, the lower the values.
A pie chart compares parts of a whole set of data. The data are represented in percentages and ratios, with the same unit of measure used to make sense of the information. To avoid clutter, the maximum of six segments is recommended.Learn more about Household Budgets