Choosing the right chart for your metric lets you effectively communicate your data’s story. Charts play an essential role in data visualization by making patterns, trends, and relationships within data easily understandable. In this blog, we will look at the top 5 charts that can elevate your reporting in Bold Reports®. These charts are essential for analyzing and presenting different types of data.
Let’s explore the details of each chart and see how and when they can enhance reporting capabilities.
Column Chart
Column charts allow you to compare values for a set of unordered items across categories through vertical bars ordered horizontally. They are perfect for comparing data across categories or tracking changes over time.
Why it’s the best
Column charts enable you to compare values among different categories or subcategories easily. The side-by-side arrangement of columns simplifies visual comparison, allowing users to identify differences and similarities quickly. Column charts also help in identifying trends or patterns over time, making it easier to see how values have changed.
The following column chart is an example that can be used by a sales company to analyze the monthly recurring revenue (MRR) trend over six months, highlighting growth and potential.
Line Chart
Line charts are ideal for showing trends over time. They are particularly useful for time-series data, such as monthly sales figures or yearly performance metrics.
Why a line chart is best
Line charts are powerful for revealing trends in data over time. Their clear visual format makes it easy to see changes and identify patterns. This simplicity makes them a popular choice for communicating metrics to a wide audience.
The following example line chart can be used by a company to show ticket resolution over 10 months. This line chart is helpful for spotting trends, anomalies, and changes over time. It enables a company to forecast future trends based on historical performance, leading to informed decision-making.
Pie Chart
Pie charts are best used for showing the proportions or percentages of a whole. They work best when there are relatively few categories and the proportions are distinct.
Why a pie chart is best
Pie charts excel at showing how a whole is divided into its component parts. They leverage our natural ability to estimate proportions based on area. This makes pie charts ideal for situations where you want to emphasize the contribution of a few categories to a whole.
The following example demonstrates how an institution could use a pie chart to represent the distribution of student enrollment across courses. It visually shows the proportion of students enrolled in each course relative to the total student enrollment.
Polar Chart
Polar charts are useful for showing multivariate data in a circular format. They are particularly effective for comparing multiple variables across a single category.
Why a polar chart is best
Polar charts work when dealing with data sets that have multiple variables. By assigning each variable its own axis radiating from the center, polar charts allow for effective comparison across various dimensions simultaneously. This makes them ideal for visualizing performance metrics with several factors or identifying patterns and relationships between complex data sets.
A company can use a polar chart like the following one to display revenue and investment figures by month. The chart provides a visual comparison of revenue and investment trends throughout the year, highlighting months when revenue significantly exceeded investment and vice versa.
Scatter Chart
Scatter charts are ideal for displaying relationships between two variables. They are especially useful for identifying correlations, clusters, and outliers in data sets.
Why a scatter chart is best
Scatter charts are especially beneficial when the focus is on exploring the connection between two specific variables. They allow you to observe how one variable affects another, making it easy to identify correlations, clusters, and outliers.
The next example is of a scatter chart used by a sales company to display monthly sales data for different individuals within a company. It visualizes and compares the sales performance of team members over the course of a year, highlighting both individual and overall sales trends.
Charts are an invaluable tool for making data-driven decisions, and Bold Reports® offers a wide range of options to suit your needs. By understanding the specific use cases and advantages of each chart, you can create more impactful and insightful reports. Incorporate these charts into your reporting toolkit to unlock the full potential of your data and make informed, data-driven decisions. Try out Bold Reports today and discover how these charts can elevate your data reporting.
Visit the Bold Reports website for more information or sign up for a 30-day free trial to experience the power of Bold Reports firsthand.
