Unleashing the Power of Process: Understanding Sankey Charts for Better Decision Making
Sankey charts are a powerful decision-making tool that have been used for over 100 years. They were originally developed by Russian engineer and inventor Dmitry Sankey for the study of chemical processes. However, over the years, their utility has expanded beyond their initial application in chemical engineering. Today, Sankey charts are widely used in various fields, including finance, supply chain management, and environmental science, to visualize and analyze complex data sets.
So, what is a Sankey chart? It is a type of flowchart that is used to represent the flow of matter, energy, or information between different nodes or entities. In a Sankey chart, the nodes represent the various stages or processes involved in the flow, while the links between the nodes represent the flow of matter, energy, or information between those processes.
One of the most unique features of Sankey charts is their ability to represent the flow of matter or energy between different nodes, not just the flow of the nodes themselves. This means that they can be used to visualize not just the movement of goods or services, but also the flow of ideas, information, or resources between different entities.
To understand Sankey charts better, it is essential to understand the underlying principles of flow visualization. The first principle is that the flow should be represented in a way that is consistent with the actual flow. This means that the flow should be depicted in the same direction and at the same speed as it occurs in reality.
The second principle is that the flow should be represented in a way that accurately reflects the actual flow rates. This means that the width of the flow lines should be proportional to the actual flow rates.
The third principle is that the flow should be represented in a way that is easy to understand and interpret. This means that the chart should be clear, concise, and easy to read, with the use of appropriate colors and symbols.
Once we understand these principles, we can begin to use Sankey charts to visualize and analyze complex data sets. For example, we can use a Sankey chart to visualize the flow of goods between different regions or entities. This can be useful for identifying bottlenecks and areas where there is a surplus or demand of goods.
We can also use Sankey charts to visualize the flow of financial resources between different parties. This can be useful for identifying areas where there are imbalances or inequalities in resource distribution.
Finally, we can use Sankey charts to visualize the flow of information or ideas between different groups or organizations. This can be useful for identifying areas where there is a surplus or demand of information or ideas.
In conclusion, Sankey charts are a valuable tool for decision making. They allow us to visualize and analyze complex data sets in a way that is easy to understand and interpret. Whether we are analyzing the flow of goods, financial resources, or information, Sankey charts can help us make better decisions about how to optimize and balance these flows.
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