Do you want to know about the types of charts in statistics? If yes, here we will provide a guide with clear-cut information.
Well, you know there are more types of Statistics charts and graphs than ever since there’s a mess of pertinent stat data.
Various charts help businesses make data visualization, demonstrate to their audience what they value as a business, motivate the team to take action, and impress stakeholders with better excellent progress.
Moreover, data visualization can help to organize and build the trust of various teams around recent ambitions. Let’s dive in depth to learn the statistics chart types and improve your business.
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Five Types Of Charts In Statistics to Present Data
If you want to know about the various types of charts in statistics in a better way and their uses, then you must figure out the below-given information.
- Column chart
- Dual Axis Chart
- Area Chart
- Mekko Chart
- Pie Chart
- Scatter Plot Chart
- Waterfall Chart
- Bubble Chart
- Funnel Chart
- Bullet Chart
- Circle chart
- Horizontal bar chart/Vertical bar chart
- doughnut charts
- Scatter charts
1. Column Chart
The column chart includes one of the popular types of charts in statistics. You can use a column chart to demonstrate various item comparisons or an item’s comparison over a particular time. In the below-given column chart, we present the data of new customers, trend lines, and customers by the close date.
What is the best use of the Column Chart?
Instead of showing data horizontally, as column charts and bar graphs, do it vertically. While we may use both to show how numbers have changed over time, column charts are more suited to showing off numbers that have gone down.
For instance, accidents in factories and warehouses are regularly recorded. A column chart may help presenters understand that the number of occurrences has decreased when it is below the monthly average.
The column chart above shows the number of consumers as of a specific date. Column charts simplify the analysis of time series data. It implies they may use them for various purposes, such as
- Data is retrieved by measuring your customers, such as how many people appreciate a particular product or how often a product is used daily.
- Monthly or weekly sales volumes and a breakdown of the most popular services are examples of this metric.
- The financial gain or loss may be expected from a company’s investments.
- You can use horizontal labels and consistent colors and start the y-axis at 0 to design the column chart best practices.
2. Line Graph
It includes the second-best types of charts in statistics. Many data types may be shown clearly and effectively using a line graph, highlighting changes or developments over time. The below-given chart represents the best option for dot plots of continuous data with statistical analysis.
What is the best use of the Line Graph?
Line graphs allow viewers to see trends across both short and long time frames and make these graphs helpful in detecting subtle shifts.
Through these types of graphs, it is possible to evaluate the development of many categories during the period of time frame. They are also valuable for gauging the level of interaction between various communities.
A company may use this graph to examine the performance of various goods and services in sales over time. You can use it to design only the best practices of solid lines, the right height, and only plot up to four lines.
You may also use these graphs to evaluate your service channels’ functioning. For example, make a line chart showing how many messages your staff resolves each month through chat and email.
3. Dual Axis Chart
Through these best types of charts in statistics, you may show data along two y-axis and one common x-axis in a dual-axis chart. There are three different data sets included. The former is a stream of information, whereas the latter is more suited for categorization. You may use these common graphs to see whether there is any connection between the three datasets.
What is the use of a Dual Axis Chart?
It includes the best types of charts in statistics. A dual-axis chart simplifies the identification of correlations between two or more data series. They can aid in comparing patterns or trends over time.
Take, for instance, the following graph type, which displays the monthly increase in the company’s new clients. It also reveals the financial value of such clients to the firm. You can pick contrasting colors, various graphing styles, and the y-axis on the left side for the primary variable with heat maps.
Because of this, it’s easy to see how a growing clientele might translate into more profits on graph paper. Follow the below given dual-axis charts for comparison:
- Sales and profit margin
- Price and volume of your products
- Individual sales performance
- Revenue and units sold
4. Stacked Bar Chart
Follow the below given best bar chart to compare many diverse items and demonstrate each item’s composition.
What is the use of a Stacked Bar Chart?
You can use the Stacked bar chart in the case group of people, starting in one column and progressing to another. The stacked area chart included the other best types of charts in statistics.
Sometimes it is not easy to tell if a lead is a marketing-qualified lead (MQL) or a sales-qualified lead (SQL). When a lead transitions from MQL to SQL, the following graphic provides a birds-eye perspective for stakeholders.
It’s a marketing gold mine to use stacked bar charts. They simplify presenting several data sets on a single graph or making a case in a constrained format.
These graphs are great for quarterly meetings when there is a lot to cover but only sometimes enough time to cover it because of the various points they may illustrate categorical variables. Also, use a better chart size, chart of volume, chart from scratch, chartsA pie chart, display bar charts, compelling charts, etc.
5. Area Chart
The Area chart is included in the types of charts in the best statistics types equivalent to a line chart. It’s an excellent tool for illustrating relationships between parts and the whole, such as how each salesperson contributed to yearly revenue. It’s a perfect tool for examining aggregate and individual trends.
What is the use of Area type of Charts?
It is included in statistics. An area bar graph is included in statistics that are useful for displaying fluctuations over time. It has built-in formplus features. They excel at highlighting substantial variations across data sets and help make precise observations about broad patterns.
The above given particular type of graph, for instance, organizes users according to their date of creation and the current stage of their life cycle with radar charts. These are also known as spider charts.
These visual representations of data emphasize group size and intergroup relationships above temporal shifts in data with heat maps.
How to grow a business by choosing the right type of chart?
Following are the ways to choose the right kind of exponential charts it is given below.
- First, you must identify the objectives for presenting the company’s financial data.
- Also, list the data you need to gain the company objective.
- Collect all the pertinent data for star charts.
- Moreover, select the correct type of single chart for visual representation.
What are the eight types of graphs in statistics?
The various types of graphs are given below, and it is such as;
- Statistical graphs
- Exponential graph
- Basic graph
- Column graph
- Circle graph
- Logarithmic graphs
- Bar graph
- Basic line graph
- type of bar graph
- Curvilinear area graph
- Cartesian graphs
What are the types of variables in statistics?
These are the following variables of the statistics that are given below.
- Quantitative variables
- Continuous variables
- Discrete variables
- Ordinal variables
- Dependent variable
- Numeric variables
- Qualitative variables
- additional variables
- Binary variables
Consequently, all these are the various types of charts in statistics. All the above-given information helps you to know about the multiple types of charts.
All these are the various types used for business growth with better graphical representation, online surveys for ten-year age categories, population trends, etc. There are a lot of common features, like presenting the percentage of time spent, dozens of shapes, box plots, sharing options, a combination of sales, etc. If you want to use a line graph or other charts, follow the above-given information to understand graphs.
Frequently Asked Question
What displays bar charts?
It ordinarily presents categorical variables, continuous variables, and discrete variables.
What are the uses of bar graphs in daily life?
It is most helpful in comparing the different data sets among other groups easily with understanding graphs.