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Streamlining Processes: The Power of Sankey Charts in Business Analytics

Businesses today operate in complex and dynamic environments, characterized by constant change and rapid innovation. To stay competitive and streamline their operations, companies need to analyze their processes and identify areas for improvement. One powerful tool in this pursuit is the Sankey chart, a type of flowchart that provides a visual representation of the flow of materials, information, or products in a process.

What is a Sankey Chart?

A Sankey chart, also known as a Sankey diagram, is a type of flowchart that shows the movement of materials, documents, or products between different entities or processes. It is named after its creator, Dr. Helmut Sankey, a German engineer and statistician who developed the chart in the early 20th century.

The Sankey chart is a useful tool for identifying and optimizing supply chain processes, process flow optimization, and improving inventory management techniques. It can also be used to visualize the movement of goods and services between different organizations or entities in a supply chain, as well as to analyze the impact of changes to the flow of materials or information on a process.

How to Create a Sankey Chart

Creating a Sankey chart requires the use of specialized software or online tools. These tools provide step-by-step guides to building the chart, inputting data, and customizing the visualization. Some common software used to create Sankey charts include:

• Visio
• Lucidchart
• Draw.io
• SmartDraw
• Microsoft Visio

Here are the steps to create a Sankey chart:

1. Determine the purpose and scope of the chart: Before you can begin creating the chart, it is important to clearly define the purpose and scope of the chart. This will help you determine the data that needs to be included and the processes or entities that need to be visualized.
2. Gather and organize the data: Once you have determined the purpose and scope of the chart, you can begin gathering and organizing the data that will be used to create the chart. This may involve researching internal data sources, such as inventory or sales records, or gathering information from external sources, such as suppliers or customers.
3. Choose the software or tool: Choose the software or tool that you will use to create the chart. Some common tools are Visio, Lucidchart, Draw.io, and SmartDraw.
4. Build the chart: Once you have gathered and organized the data and chosen the software, you can begin building the chart. This will involve inputting the data into the tool and configuring the chart to visualize the flow of materials, documents, or products.
5. Customize the chart: After the chart has been built, you can customize it by adding annotations, changing the colors or labels, or adjusting the chart’s layout.

Applications of Sankey Charts in Business Analytics

Sankey charts are a powerful tool for streamlining processes and improving business operations. Here are some specific applications of Sankey charts in business analytics:

1. Supply chain management: Sankey charts are particularly useful for analyzing and optimizing supply chain processes. They can be used to visualize the flow of materials or products between different entities in a supply chain, such as suppliers, manufacturers, distributors, and retailers. By analyzing this flow, companies can identify opportunities for improving efficiency, reducing costs, and improving the overall quality of their supply chain.
2. Process flow optimization: Sankey charts can also be used to visualize and optimize business processes. By analyzing the flow of materials or information through a process, companies can identify areas for improvement, such as bottlenecks, inefficiencies, or冗余 steps.
3. Inventory management: Sankey charts can be used to visualize and optimize inventory management techniques. By analyzing the flow of products through inventory processes, companies can identify opportunities for improving efficiency, reducing costs, and improving inventory turnover.
4. Customer experience analysis: Sankey charts can also be used to analyze the flow of information or products through the customer experience. By visualizing the flow of

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