Sankey charts are a visual representation of relationships and connections between various entities or processes. They are typically used in finance and engineering, among other fields, to reveal the flow of information or the movement of resources. Despite their simplicity and versatility, sankey charts require some understanding and familiarity with their characteristics and uses to effectively interpret their layout and data. This article will explore the world of sankey charts, highlighting their characteristics, applications, and features.
What is a Sankey Chart?
A sankey chart is a type of diagram that represents relationships between different entities or processes visually. It is mostly used in finance and engineering to reveal the flow of information or the movement of resources. The chart consists of different shapes, called “nodes” or “vertices,” that represent entities or processes. The nodes are connected by “arrows” or “edges” that depict the flow or movement of resources or information between them. The lengths of the arrows and the widths of the nodes represent the amount of resource or information flowing or moving between them.
Characteristics of Sankey Charts
- Nodes: The base of the sankey chart consists of nodes that map out an entity or process. These nodes may be labeled with the entity or process’s name, category, or other relevant information.
- Edges: Edges, also known as “arrows” or “links,” represent the flow or movement of resources or information between nodes. Edges can be connected to other edges to create a network of connections between nodes.
- Arrows: The arrows or links are used to represent the flow of resources or information between nodes. The length of the arrow indicates the amount of resource or information moving between them. The width of the arrow indicates the direction of the flow.
Sankey Chart Examples
- Financial Flow Chart: A classic example of a sankey chart is a financial flow chart that represents a company’s financial transactions over a period of time. The chart represents the flow of resources between different departments, such as sales, accounting, and marketing.
- Evolution of a Market: A sankey chart can also be used to represent the evolution of a market or business over time. The chart shows how different resources or products are flowing into and out of the market, helping viewers understand how the market is growing or declining.
- Supply Chain Analysis: A sankey chart can also be used to analyze the supply chain of a product or service. The chart represents the flow of resources, such as components or raw materials, from suppliers to manufacturers, to retailers, and ultimately to consumers.
Applications of Sankey Charts
- Engineering: Sankey charts are commonly used in engineering to represent the flow of resources or information between components during the design and construction of mechanical or electrical systems.
- Finance: In finance, sankey charts are used to represent the flow of resources or information between different entities or processes. They are commonly used in financial reporting, asset management, and risk assessment.
- Healthcare: Sankey charts are used in healthcare to represent the flow of resources or information between patients and healthcare providers. They are used to track patient care, identify resource utilization patterns, and assess staffing and demand.
Conclusion
Sankey charts are a powerful tool for visualizing relationships and connections between various entities or processes. They are widely used in finance, engineering, and other fields to represent resource flow or information movement. To effectively interpret sankey charts, it is important to have a basic understanding of how the chart is laid out and what information it represents using the nodes and arrows. With practice, the reader can become proficient in using sankey charts to simplify complex representations and better understand their components or relationships.
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