In today’s world, data analysis is becoming an essential aspect of every business, from small startups to large corporations. Data visualization is one of the primary ways experts communicate their insights and findings to others. Sankey charts are visual representations that help simplify complex data, and they offer many benefits when compared with other data visualization techniques.
Let’s dive into the world of Sankey charts and explore what they are, how they work, and their applications in business and other sectors.
What is a Sankey Chart?
A Sankey chart is a diagram that represents the flow of a particular topic, often financial data or flow processes. It displays the direction, amount, and source/destination between processes or entities, such as transactions, money flow, resource flow, and supply chain management.
In a standard Sankey chart, you divide a line between two points or entities to show the flow of data from one entity to another. The flow is denoted by direction, and the quantity is shown by the size or color of the line. You can also use arrows or arrows to indicate the direction of flow.
Sankey charts have been widely used in diverse fields, including finance, architecture, and engineering. They are also becoming increasingly popular in business management, where they can help companies manage their supply chain, improve their financial flows, and increase efficiency.
How to Create a Sankey Chart?
Creating a Sankey chart can be a time-consuming process, especially if you are new to this approach. But there are several tools available that can assist you in creating efficient Sankey charts. Here are some tools you can use:
1. Canva: Canva is a free online design tool that offers many templates and design elements to create a Sankey chart. It’s easy to use and can save you time.
2. Ravelry: Ravelry is a free online design tool that allows you to create, edit, and publish your own Sankey charts. It also includes a range of templates to make the process easier.
3. Microsoft Office: Microsoft Office comes with templates and functionality to create Sankey charts. However, some features may not be available in the free version of Microsoft Office.
4. LaTeX: If you’re proficient in programming languages that include LaTeX, such as Python or R, you can create Sankey charts using those languages.
Application of Sankey Chart in Business
Sankey charts have numerous applications in business, especially in supply chain management. The following are some examples:
1. Supply chain management: Sankey charts can help supply chain managers monitor the flow of materials and products from suppliers to the final customer. They can also identify bottlenecks in the supply chain and identify potential problems before they become serious.
2. Finance analysis: Sankey charts can help finance professionals analyze the flow of money in a company. They can identify sources of revenue and expenses, and track the profitability of different business units.
3. Project management: Sankey charts can help project managers manage the flow of resources and tasks between different tasks, making it easier to monitor progress.
In conclusion, Sankey charts are a powerful visualization technique that can help companies and individuals simplify complex data and identify trends. They are user-friendly and easy to create, and they can be applied in various fields, including finance, supply chain, and project management. So, if you want to unlock the power of Sankey charts, start creating them and see how they can improve your business.

SankeyMaster

SankeyMaster is your go-to tool for creating complex Sankey charts . Easily enter data and create Sankey charts that accurately reveal intricate data relationships.