Recently, Microsoft added 6 new charts to Excel 2016
So we reached out to the experts at Spreadsheeto who created this article and also so we could share their amazing infographic highlighting these 6 new charts.
This infographic was created by Spreadsheeto.
What’s super cool about these charts are, that many of them you had to pay to have custom-developed before – or worse, they didn’t even exist.
If you’re running Excel 2016 (or Office 365), 6 new charts are now at your disposal.
But, what’s the strength of each chart? And when should you use it? Let’s take a quick look at each of them.
Use a “Treemap” chart to get a hierarchial view of your data
Treemaps are useful for visualizing the largest segment of a subset. To use the treemap chart, your data needs to be sorted into a hierarchy. Once that’s done, it’s only a few clicks before your treemap chart reveals the distribution of data. This is especially useful when looking at the distribution of sales.
“Sunburst” chart: See how different segments within a hierarchy contributes
Say you have a lot of depth to your hierarchy. Let’s say your data is broken out into subcategories and you need to be able to view the different subcategories relationships. This is hard to do with a treemap chart, but with a sunburst chart, it’s a breeze.
With a sunburst chart, it’s easy to compare supersets against other supersets. You can also easily see groupings, and which superset is the most dominant.
“Histogram” chart: Visualize the frequencies within a distribution
Histograms are bar charts for frequency. They are useful for tallying up the number of times something happens within an interval.
The cool thing about Excel is you don’t have to sort into the intervals (or “bins” in Excel-speak). Create your bins, then you just throw your data (one-dimensional) at it.
This chart is often used in news and papers and makes it easy for the viewer to get a quick glance of frequency in data sets.
“Pareto” chart: Find the biggest factors in a data set
These are quite a bit like histograms, but they sort for the largest category first. They also have a line indicating the cumulative percentage above the frequency bars. The Pareto chart option is actually under the histogram heading in the “Chart Wizard”.
A Pareto chart highlights the biggest factors in a dataset.
“Box and Whisker” chart: Show distribution of information
BAW charts, as I like to call them, split your data into nice quartiles. The middle 50% are in a box, with the upper and lower quartiles sticking out in “whiskers”.
Outliers are generally identified by a single point.
“Waterfall” chart: Show running total as values are added or subtracted
The “waterfall” is the sixth, and last, added chart to Excel 2016. The waterfall chart is a nifty tool that shows how a sequence of numbers affect each other.
The key is sequence, as this implies ordering.
Often used in finance to visualize cash flows.
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