Excel

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What is a thermometer chart: How to create it chart in Excel

What is a thermometer chart?

A thermometer chart is a visualization technique that is used to show a single parameter against the predefined target. This chart looks like a thermometer due to this it is called a thermometer chart. The filled part goes up as the achievement increase. It shows the percentage of achievement done. It is not an in-built chart in excel though we will create it by column chart.

How to create a thermometer chart in Excel

To create a thermometer chart in excel we first need to arrange our data in a particular format as motioned in the below image.

What is a thermometer chart?
What is a thermometer chart

Now after selecting our data we will go to Insert Tab Insert Continue Reading

Funnel Chart: How to Create a funnel chart in excel to visualize your data flow

Funnel Chart

Funnel Chart is a special kindly of chart which is used to visualize the progressive reduction of data when it passed from one process to another. Data in each process is represented as a different portion of 100%. There is multiple kind of analysis where it is required like the admission process for a course, recruitment funnel, product sales, etc. The values in each process are gradually decreasing.

How to create Funnel Chart in excel

First and foremost we will arrange our data in descending order. Then we will go to Insert tab Insert Waterfall, Funnel, Stock, Surface, or Radar Chart Funnel.

What is a Funnel Chart
Funnel_ Chart

After clicking the Funnel option we will get it as below.

how to use Funnel_Chart in excel
Funnel_ Chart
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Waterfall Chart: How to create Waterfall Chart in excel

Waterfall Chart: How to create Waterfall Chart in excel

A waterfall chart is also known as a bridge chart or cascade chart is a special visualization tool that helps in understanding the cumulative impact of a series of positive and negative values. In other words, it is a very good tool to visualize starting value, the positive and negative value, and the final value. So we can say that the Waterfall chart has the first column as starting value, the last column as the Ending value, and all floating columns between them are contributing to positive and negative values. Majorly it is being used for financial data.

How to create Waterfall Chart in excel

To create waterfall chart in excelContinue Reading

How to Use Radar Chart for Competitive Analysis?

How to Use Radar Chart

What is Radar Chart

Radar charts are also known as web or spider charts are used to visualize multivariate(more than 2 variables) data. A radar chart is used to plot one or more groups of values over multiple common variables represented on axes starting from the same point. Each variable has its own axis, all axes are joined in the center of the chart.

When to use Radar Chart

We can use Radar chart in the following situations

  • When we have to compare two or more variables.
  • When our decision is based on a data-driven method,
  • When we wanted to understand a concept and how its value is changed over different parameters.

How to createContinue Reading

Understanding and interpreting boxplots: How to create them in Excel

Understanding and interpreting boxplots

What is boxplot

Boxplot also known as box and whisker plot is used in explanatory data analysis. It is used to show the variance and central tendency of any data set. By this, we can visually represent the distribution of data in a dataset. It also helps in comparing two or more sets of data.

How box plots look like

Box plot is a standardized way of showing distribution of data on the basis of five number summary.

Understanding and interpreting boxplots
Box plot structure

PS: Above image is taken from https://www.simplypsychology.org

In the above image, we can see the five summaries as the minimum(min), Q1(lower quartile), median(Q2), Q3(upper quartile), and maximum(max). We also see min and Q1 are connected … Continue Reading

What is Histogram : How to create it in excel by 2 different ways

What is Histogram

Histogram is a chart that helps us discover and present continuous data basis frequency distribution. It is sort of bar chart just the major difference is that histogram used to show frequency of data in the data set which has been divided in classes also known as bin.

Histogram also helps us to find underlying distribution of data, outliers, skewness and kurtosis. It helps us to check how the output of a process looks like, is process able to meet customers requirement and many more other thing.

How to create Histogram in excel

I will explain 2 methods of creating Histogram in excel

  1. by creating frequency table
  2. by excel inbuilt histogram chart

By creating frequency table:

We … Continue Reading

Bubble Chart: How to create it in excel

Bubble Chart

Bubble chart in excel is a variation of scatter plot. In scatter plot we use points for representation while in bubble chart data points represented by bubble. Like scatter plot, bubble plot is also not using category value as axis. We will use Bubble chart when we have at least three or more sets of data to represent in the chart. Out of these three dataset, two will be representing as X and Y axis while the third data point represented by the size of bubble.

There are two types of Bubble chart available in excel 1)Bubble and 2) 3-D Bubble.

How to create Bubble Chart in Excel

Like other charts after selecting our data we will go … Continue Reading

What is Sunburst and Treemaps charts: How to create these 2 in excel

What is Sunburst and Treemaps charts

Sunburst and Treemaps charts are hierarchical charts which is used to show multi level variable values. We will be using this chart type to compare parts to a whole, or when several columns of categories form a hierarchy. Let us take an example of Olympics to understand this. We got data of matches participated in Olympics by different countries for different categories of games. We can see the data in the below image.

What is Sunburst and Treemaps charts
Hierarchical data

From the above data set if we want to plot bar chart, Line chart or pie chart then chart will not show complete data by any of the charts.

Treemaps chart in excel
Other charts to represent hierarchical data

To overcome this problem … Continue Reading

How to make different Line Charts in excel: Explained step by step

How to make different Line Charts in excel

What is Line Chart In excel

Line charts are a form of data presentation that helps in presenting data in a simple and meaningful way. The line chart is the simplest and easiest to understand among all charts. It is very helpful in showing some trends over time.

How to create Line Chart in Excel

To use line chart in excel we will go in Insert tab then Insert Line and Area Chart.

How to make different Line Charts in excel
How to get line chart in excel

What type of line charts are available in excel

There are two types of line charts available in Excel:

  • 2-D Line Chart
  • 3-D Line Chart
2-D Line Chart

2-D Line ChartContinue Reading

What is Hypothesis testing in statistics: How to do Hypothesis testing,5 steps process

What is Hypothesis testing in statistics

Hypothesis testing in statistics is a process by which we are confirming our hypothesis or prediction statistically. Scientists mainly use it to test the specific prediction from some theory or hypothesis or even from gut feelings.

Examples of Hypothesis Testing:

  1. The ability of Vitamin C to cure or prevent cold,
  2. Children of obese parents are more likely to be obese
  3. Men have taller than women
  4. Tenure calling operators have less handling time than a new operator.

Type of Hypothesis testing :

  1. Null Hypothesis : Null hypothesis states that there is no difference in parameters for two or more populations. If any observed difference in a sample is due to chance or sampling-related error, it
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