When analyzing data, one of the best techniques is to use data visualization, such as bar charts, pie charts, and line charts. Keep reading to learn more about line charts, including an answer to the question, what is a line chart used for?
What is a line chart?
A line chart is a type of graph that shows how a particular variable changes over time. It consists of a series of data points connected by straight lines, which can be used to track the progress of a particular variable over a period of time. Line charts are often used to track the progress of stocks, share prices, or other economic indicators.
There are several variants of line charts that can be very useful for businesses of all sizes. For example, a multi-series line chart plots data points against two or more axes (usually time and value), with each series of data represented by a different line. This type of chart is perfect for tracking changes in data over time and can be used to answer a variety of business questions, such as how sales data or website traffic changes over time.
A multi-axis line chart compares data across two or more different axes. This type of chart is useful for displaying data that has a complex relationship or for comparing data across different categories.
When it comes to representing data that is non-continuous or fragmented, step-line charts can be extremely helpful visual aids. This type of chart helps to visualize patterns for events that happen sporadically or in short bursts. As opposed to a traditional line chart, which plots points along a continuous line, a step-line chart will show a series of steps, or lines, that represent the different data points. This makes it easy to see how the data changes over time, as well as how the values compare to one another.
A zoom line chart allows you to zoom in on a specific area of the chart to get a more detailed view. This can be useful for analyzing data that is spread out over a large area or for viewing data that changes over time.
A scroll line chart can be used to track different data points over time. The data points are displayed as lines on a graph, and the graph scrolls to follow the latest data point. This is a great way to track the progress of a project or to see how a certain statistic changes over time. The scroll bar allows you to move the chart horizontally to see different parts of the data.
A spline chart, also called a fitted curve line chart, is a graphical representation of the variation of a set of data over time. The data is plotted on a graph, with each data point represented by a dot. A smooth curve is then plotted through the dots, representing the variation of the data. Spline charts are often used to show data that varies over time, such as sales figures or stock prices.
How can businesses use line charts?
Line charts are an extremely versatile tool that businesses can use in a variety of ways. Some specific ways businesses can use line charts include:
- Tracking product sales over time: If your business sells products, you can use line charts to track sales over time. This can help you identify any trends in sales, such as whether sales are increasing or decreasing. This information can help you make decisions about what products to sell and how much stock to keep on hand.
- Tracking website traffic: If your business has a website, you can use line charts to track website traffic. This can help you identify whether traffic is increasing or decreasing, which can help you make decisions about what content to publish on your website and how to promote your website.
- Tracking customer satisfaction: If your business collects customer feedback, you can use line charts to track customer satisfaction over time. This information can help you make decisions about how to improve your products or services.
- Tracking employee productivity: If your business tracks employee productivity, you can use line charts to track productivity over time. This information can help you make decisions about how to improve employee productivity and boost morale and loyalty.
- Tracking project progress: If your business works on projects, you can use line charts to track project progress over time. This can help you identify whether the project is on schedule or behind schedule. This information can help you make decisions about how to adjust your project schedule.
In summary, line charts can help businesses understand their data in new ways that can promote future success.