A Sankey diagram is an advanced tool used in data visualization, especially when identifying the flow of variables within a given system. The chart is mainly used when identifying flows of things such as materials, and energy, as well as advertising the journey undertaken by customers before making a purchasing decision. Every flow within the system comes with varying heights based on quantity.
Data analysts use this feature to aid in determining the essential contribution within the data system. When data is segmented in this manner, it becomes pretty easy to analyze and generate vital insights that you can use going forward. Even though many traditional tools were used to depict flows, they are primarily misleading since you are likely to miss some content which affects the results you get at the end.
With a Sankey chart, data analysts can easily find vital data insights from their respective data elements, giving them an added advantage and saving much of their time. Analyzing your business data may turn out frustrating, especially if you do not have an excellent system to analyze the data content and generate a concise report that you can use in your business endeavors.
When you have a basic understanding of how a Sankey chart is used, you stand in a better position to elevate your business performance to the top based on your past data history and guided by actionable data insights. Even though you may have some bits of knowledge about it, you may find it challenging to create one and use it appropriately. Let’s look at some of the best means that you can use to create a Sankey cc hart and use it to analyze data.
Creating a Sankey Diagram
There are multiple ways that you can use to create a Sankey chart and use the tool to analyze your data without facing any difficulty. You only need to pick the best way that works for you since every model may not be favorable on your side. However, learning more about all these means is essential to be on the safe side.
Creating a Sankey Diagram Using Google Sheets
After collecting your data from its respective sources, the first step is importing all the data on your Google sheets. However, the challenge is that Google sheets do not have the Sankey chart option by default. This means that you need to install and run a third-party ad-in to be able to create the chart easily. The ad-in is known as ChartExpo.
You only need to install the ChartExpo ad-in from your app store and use it on your Google Sheets. Once you have installed the ad-in, navigate towards the toolbar and click on the ad-ins to find the ChartExpo option. Open the tool and click the source if you have entered the data together with the number of columns. After the selection, click the create chart button and display the desired chart on the screen.
When done, you will see an appealing Sankey chart appear on your screen with all the data elements you had already outlined. The only thing you need is the third-party add-in you can get from the web, and the data you intend to visualize.
Creating a Sankey Chart Using Microsoft Excel
Open the Microsoft Excel software on your desktop and import the data you intend to use to create a Sankey chart. Also, you need a third-party add-in that will help you effortlessly make the chart. You need to install the ChartExpo tool and run it on your Excel software. The tool is mainly meant to give you an easy time creating the chart and access to more advanced features that you can use to navigate the process.
After installing the tool, highlight the data and click on the insert button. Click on the insert button and open the ChartExpo tool. Navigate to the Sankey chart option and peruse through the given options to identify the best format that works well for you.
When the tool displays different options, you need to choose only the columns and rows where your data has been displayed. After selecting the right option that works for you, you can click on the insert button, and you will have the entire process done.
Upon clicking the insert button, you will see a beautiful Sankey chart on your computer analyzing all the vital data elements you had previously highlighted. You can decide to Mae a few edits depending on your preference to add and remove some information that you see necessary to make the chart more appealing.
The Main Components of a Sankey Chart
A Sankey chart is mainly made up of a few data elements that you need to know. The components work together to enable the chart to attain a uniform goal. Below are some of the major components of a Sankey diagram.
Nodes
Nodes operate similarly to the bars in a bar graph. They are mainly used to indicate the flow of variables. In addition, the nodes are perfectly aligned, similar to an alluvial diagram, even though they can visualize change over a certain duration.
Link
The link refers to the connection acting between two nodes. This is the point where the flow takes place within a data system. You can make the links appealing by applying different colors based on your choice to make the chart stand out.
Benefits of Using a Sankey Diagram
The good thing with a Sankey chart is that you don’t need to have a lot of data to keep the ball rolling. You need two dimensions and one metric, and you are good to go. In addition, it gives you a clear picture of the customer journey and what they go through before making a purchase.
In addition, it’s a good choice when you want to depict how different data values depict from one point to another. This gives you a better picture to identify where your primary traffic originates across the system. Also, it provides quick Insights when visualizing flows saving much of your time.
Conclusion
A Sankey diagram is one of the most efficient tools that you can utilize when you want to display the glow of different data variables. The chart is easy to use and create, provided that you have some basic understanding of its functionality. Once you have installed the ChartExpo ad-in, you are in a much better place to collect all kinds of insights from your data and propel your budget to the
next level.
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