Sankey Charts, the visual representation of flow diagrams, are tools that help simplify comparisons of data across different variables. This article aims to explain how to create sankey charts and its applications in the world of data analysis and management.
What is a Sankey Chart?
A sankey chart is a type of flow diagram that visualizes the relationships between different elements, such as resources, goals, or costs. It is also known as a resource flow diagram, and it helps analyze and compare flow patterns in various situations.

Creating a sankey chart requires several steps:

1. Analyze the data: Collect the data that you want to visualize using sankey chart, and organize it properly (both for the left-hand side and the right-hand side).
2. Choose the best data visualization tool: There are several tools available for creating sankey charts, including Excel spreadsheets, online data visualization tools, and specialized software such as Adobe Illustrator or Microsoft Excel Professional Plus.
3. Determine the key elements: Identify the key elements that you want to visualize on the sankey chart, and create the nodes and links between them.
4. Label the elements: Assign a name to each element on the sankey chart for easy understanding.

Sankey Chart Applications
There are numerous use cases for sankey charts, including:

1. Resource allocation: Sankey charts can help allocate resources (e.g., personnel, budget, equipment) to different departments or departments, and compare them with respect to the goal that they are trying to achieve.
2. Time-series analysis: Use the flow patterns in a sankey chart to analyze the trends and patterns over time.
3. Demand forecasting: Use sankey charts to forecast future demand by analyzing past data.
4. Cost analysis: Use sankey charts to identify cost savings opportunities, cost-benefit analysis or identify the cost drivers for a project or business model.
5. Project management: Use sankey charts to track the progress of a project, compare costs and progress, and create a network diagram that helps identify the most critical areas.

Conclusion
Sankey chart is an effective way to visualize data flow patterns and help identify the key areas for improvement. By using sankey charts, you can take the guesswork out of analysis and make data-driven decisions. Remember, creating a sankey chart can be time-consuming, but it is essential to ensure that you understand all the details for the best results.

SankeyMaster

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