Best Chart In Excel For Time Based Data
Excel is an essential tool for managing and analyzing data. One of the most common types of data is time-based data. This type of data is used to track activities over time, such as sales, website traffic or stock prices. In this article, we will explore the best charts to use in Excel for time-based data.
Line Chart
The line chart is the most common chart used for time-based data. It is used to show trends over time. Line charts are created by connecting a series of data points with a straight line. This chart is ideal for showing changes in data over time. Line charts are easy to read and understand, and they can show a lot of data in a small space.
Area Chart
The area chart is similar to the line chart, but it fills in the area under the line. This chart is useful for showing changes in the proportion of different categories over time. For example, if you are tracking website traffic by source, you can use an area chart to show the proportion of traffic from each source over time.
Scatter Chart
The scatter chart is used to show the relationship between two variables. This chart is useful for showing how one variable affects another over time. For example, if you are tracking advertising spend and sales, you can use a scatter chart to show how the advertising spend affects sales over time.
Bar Chart
The bar chart is used to compare data across categories. This chart is useful for showing changes in data over time for different categories. For example, if you are tracking sales by product, you can use a bar chart to show the sales of each product over time.
Combo Chart
The combo chart is a combination of two or more chart types. This chart is useful for showing data with different units of measurement or scales. For example, if you are tracking website traffic and conversion rates, you can use a combo chart to show both data sets on the same chart.
Gantt Chart
The Gantt chart is used to show project timelines. This chart is useful for showing the start and end dates of tasks and how they overlap with each other. For example, if you are managing a project, you can use a Gantt chart to show the timeline of each task and when they need to be completed.
Waterfall Chart
The waterfall chart is used to show how positive and negative changes affect a total. This chart is useful for showing how different factors contribute to a total over time. For example, if you are tracking revenue, you can use a waterfall chart to show how different factors such as sales, discounts, and returns affect revenue over time.
Pie Chart
The pie chart is used to show the proportion of different categories. This chart is useful for showing how different categories contribute to a total over time. For example, if you are tracking expenses, you can use a pie chart to show the proportion of expenses for each category over time.
Conclusion
Choosing the best chart for time-based data depends on the type of data you are working with and the insights you want to highlight. Line charts are the most common chart used for time-based data, but other charts such as area charts, scatter charts, and bar charts can also be useful. Combo charts, Gantt charts, waterfall charts, and pie charts are also useful for specific types of time-based data. By choosing the right chart, you can make your data more visually appealing and easier to understand.