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Fishing for insights into raw and bulky data is tedious and mentally exhausting.
This is where business visualization charts come into play.
The visualization designs can help you distill business data into meaningful insights. And this can save tons of hours, which you can use to relax or execute other tasks.
We recommend charts that clarify insights, especially when creating business stories for investors and stockholders.
Some of the tested and proven business charts include:
Excel is one of the go-to popular data visualization tools among professionals and business owners worldwide.
But the visualization tool has very basic Scatter Plot, Box Plot, Stacked Bar, Double Axis Line and Bar, and Funnel Charts. And this implies you’ve got to invest extra effort and time to edit the charts to align with your needs.
You can download and install a specific add-in in your Excel to access ready-to-use creative data visualization examples (highlighted above).
In this blog post, you’ll learn the following:
Before we delve into the types of business charts, we’ll address the following question: why are graphs important to a business?
Walk into almost any business meeting, and you’ll see charts and graphs incorporated into data stories.
It could be a chart showing the team’s progress on a big project. Or a graph showing the sales revenue versus competition or industry average.
Graphs and charts make the information much easier to digest and understand.
Let’s check out the benefits of charts and graphs to businesses. You don’t want to miss this.
Many businesses are still betting on gut feelings rather than facts and data.
One of the key reasons for this could be a lack of access to quality data to back decision-making processes.
Business charts can help you distill signals from noise in your raw data. And this can save massive amounts of time. Imagine the competitive advantage you would enjoy by relying on data to make strategic decisions.
The five types of business charts we’ll talk about can improve the productivity and efficiency of staff in your business. In other words, you can leverage data to predict risks, such as declining productivity.
Charts and graphs can help you track productivity metrics in real-time. With a solid business analytics strategy, you can easily point out gaps and improvement areas in your workplace or business.
Customers have a broader range of choices in today’s world.
If your business is aligned with the customers’ desires and expectations, you can easily find yourself in a downward spiral. Customers change their minds as they are continuously exposed to new information in their purchasing journey.
With the vast amount of data, it’s practically impossible for you to make sense of all the changes in the market.
One of the benefits of business charts is that it provides you with answers about the changing behavior of the market. You can easily point out significant shifts in tastes and preferences by using charts.
Timely awareness of customer behavior changes can be the decisive factor in the current competitive landscape.
Gone are the days you could easily sell a standard set of products and services to customers.
Today’s market craves products and services that can meet their individual needs.
One of the benefits of business charts is that they can help you keep track of your target market’s tastes, preferences, and needs. You can leverage data from various attributions, such as social media and websites, to create a reliable persona for the market.
Keep reading because, in the coming section, we’ll highlight the top 5 types of business charts for displaying data we recommend you try. Also, we’ll address the following question: Which graphs are best-suited for businesses?
Some of the charts and graphs we recommend you use for actionable insights includes:
We’ll dive into the types of business charts mentioned above in detail.
Visualization Source: ChartExpo
A Scatter Plot Correlation Chart is one of the 5 types of business charts for displaying data that uses Cartesian coordinates to display insights into data.
It uses dots to display relationships between variables.
The visualization design communicates insights using dots or markers between its x and y-axes. Essentially, each of the chart’s dots appears “scattered,” hence its name. Scatter Plot can determine the causal effect relationship between key data points.
For instance, you can use the visualization design to track the relationship between profits and employees’ training in your business.
The business chart communicates insights using dots or markers between x and y-axes.
You can use the Scatter Plot to compare different key variables in your data to determine the relationships. Different colors, size of dot and distance between dots can tell you unique values.
Visualization Source: ChartExpo
A Box Plot (one of the top types of business charts for displaying data) uses box shapes to display insights into data.
The chart simplifies bulky and complex data sets into quartiles and averages. Also, you can use the chart to pinpoint outliers in your data. The Box Plot segments key variables in quarters or (quartiles).
For instance, you can draw boxes to connect the first quartile to the third quartile. In this case, the boxes will represent the average values of key data points.
Whiskers are lines that identify numbers outside of the average data points. Box and Whisker Plots show the distribution of key data points along a number line.
You can generate the chart by ordering a data set to find the median, upper and lower quartiles, and upper and lower extremes.
Visualization Source: ChartExpo
A Stacked Bar Chart (one of the types of business charts) compares individual data points relative to aggregate values.
A typical Bar Chart compares individual data points. Conversely, in a Stacked Bar Chart, each bar is divided into several sub-bars stacked end to end. More so, each subsection in the bars has the same color to make formatting easier.
The chart allows you to see even minor changes in key variables in your data points.
Subdivision of each bar in above visualization is showing different quarter. There is another way of showing the above visualization so that you can show the sub division of the categories on the y-axis as well.
Keep reading because we’ll take you through how to generate the 5 types of business charts for your data stories in the coming section.
Visualization Source: ChartExpo
A Dual Axis Line and Bar Graph is one of the best types of business charts for comparing two sets of data for a presentation.
The visualization design uses two axes to easily illustrate the relationships between two variables with different magnitudes and scales of measurement.
The relationship between two variables is referred to as correlation. A Dual Axis Line and Bar Chart illustrate plenty of information using limited space, so you can discover trends you may have otherwise missed.
Visualization Source: ChartExpo
A sales funnel is the journey taken by online users until they convert into buying customers.
The funnel is made up of the top, middle, and bottom of the funnel.
Imagine this, after a prolonged period of pitches and demos, chatter, and charm, the prospect drops out of the sales funnel without buying.
It happens less often if you optimize your funnel continuously for a higher conversion rate and revenue growth. Sales funnels in most businesses are more like sieves, with holes left by patched-together spreadsheets, sticky notes, and forgotten follow-ups.
To optimize your funnel for growth and reduced drop-off rates, use a Funnel Chart. The aforementioned chart can avail you of actionable insights for optimizing your funnel for positive returns.
A well-optimized funnel can drive revenue growth and conversion rates to sky-high levels.
Continuous optimization of a sales funnel is positively correlated to growth in the long run.
A Funnel Chart (one of the top 5 types of business charts) can help you visualize the journey taken by leads until they convert into customers.
It’s shaped like an upside-down pyramid or a real-life funnel. And it’s broad at the top and narrow at the bottom. The visualization design is divided into the following: total market, prospects, leads, and sales, as shown below.
Analyzing business data is not a walk in the park, especially if you don’t have the right visualization tool.
Did you know you can supercharge your Excel with add-ins to access visually stunning and ready-to-go business charts?
Yes, you can increase the functionality of your tool and access ready-made types of business charts for your data stories.
The add-on we recommend you to use is ChartExpo.
So, what is ChartExpo?
We recommend this tool (ChartExpo) because it’s super easy to use.
You don’t need to take programming night classes to extract insights from your data. ChartExpo is more of a ‘drag-and-drop tool,’ which means you’ll only need to scroll your mouse and fill in respective metrics and dimensions in your data.
The business charts generator comes with a 7-day free trial period.
The tool produces charts that are incredibly easy to read and interpret. And it allows you to save charts in the world’s most recognized formats, namely PNG, SVG, PDF, and JPG.
This section will use a Funnel Graph (one of the top 5 types of business charts) to visualize the data below.
| Steps | Total Intake |
| Total Market | 232000 |
| Prospects | 94480 |
| Leads | 47390 |
| Sales | 22181 |
To install the ChartExpo add-in into your Excel, click this link.
If ChartExpo has successfully installed, you will see this in the list.
You can select this and click on Inert to continue.
You will see list of charts available provided by ChartExpo.
Click the Search Box and type “Funnel Chart.” Or you can scroll down to find the funnel chart.
Once the Funnel Chart pops up, click on its icon to get started, as shown below.
Select the sheet holding your data and click the Create Chart from Sheet Data button.
Your data will be presented as shown below:
You can click on Edit Chart button and then click on pencil icon on each stage (step) on chart to change the color of your own choice.
Most businesses still bet on gut feeling.
One of the key reasons for this could be a lack of access to quality data to back decision-making processes.
Business charts can help you distill signals from noise. Imagine the competitive advantage you would enjoy by relying on data to make strategic decisions.
Charts can help boost the productivity and efficiency of staff in your business. In other words, you can leverage data to predict risks, such as declining productivity.
Charts and graphs can help you track productivity metrics in real-time. You can easily point out gaps and improvement areas with a solid visualization strategy.
Hunting for actionable insights into raw and bulky data is tedious.
This is where business visualization charts come into play.
The visualization designs can help you distill business data into meaningful insights. And this can save tons of hours, which you can use to relax or execute other tasks.
We recommend charts that communicate insights with clarity, especially when creating business stories for investors and stockholders.
Some of the tested and proven types of business charts include:
Excel is one of the go-to popular data visualization tools among professionals and business owners worldwide.
But the visualization tool lacks ready-to-go and visually stunning business charts.
We recommend you try ChartExpo because it’s one of the most trusted add-ins. Besides, it has a super-friendly user interface for everyone, irrespective of their computer skills.
Create simple, ready-made, and easy-to-interpret business charts today without breaking a sweat.
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