What is a Sankey Chart?
Sankey charts are a type of graphical representation used to convey flow diagrams or information that flows from one event to another. They are often used to visualize the flow of funds, information, individuals, or activities. The chart consists of a two-dimensional space where the elements are represented using dots, rectangles, or circles, with corresponding values on tick marks and areas within the diagram.
How Sankey Charts Work
Sankey charts differ from other types of charts such as line and bar charts, where the data is represented in a single dimension. In a sankey chart, the data is represented in two dimensions, and each element has its own flow direction.
To create a sankey chart, start by defining the elements that are being compared in the diagram. For example, you could compare the flow of funds from a customer to a supplier, or the flow of individuals between two locations. Then, draw a large rectangle or rectangle on your grid with a tick mark indicating an example of the type of relationship being visualized.
Next, label the elements on the rectangle by noting their flow direction and any associated values. Typically, the left-hand area under the rectangle represents incoming flow, while the right-hand area represents outgoing flow.
The flow arrow between elements indicates the direction of the flow. For example, a circle representing a supplier and a triangle representing a customer would indicate a forward flow from suppliers to customers. Similarly, a rectangle representing an employee and a rectangle representing a location would indicate a direct flow from the employee to the location.
Finally, measure the values of the flow elements and fill in the rectangles with the appropriate color or symbol. If the values are numeric, you can use numerical values for the symbols or colors.
Sankey Charts in Business and beyond
Sankey charts have applications in a variety of fields, including business, finance, and natural sciences. In business, for example, they can be used to visualize and analyze flow of resources, such as raw materials, production, and sales. In finance, they can be used to visualize the flow of investments, such as stocks, bonds, and mutual funds. In natural sciences, they can be used to visualize the flow of energy, information, and chemicals, for example in the flow of rivers or the movement of gases in the atmosphere.
Sankey charts are particularly useful due to their ability to capture complex and intricate relationships between elements. They allow for easy visualization of the flow of data and information, and can help identify potential bottlenecks or inefficiencies in a process or system.
Conclusion
Sankey charts are a powerful tool for visualizing complex data flows and relationships. They can be used in a wide variety of fields and industries to help businesses and organizations analyze and optimize their processes. With their many benefits and flexibility, sankey charts are an essential addition to any data visualization tool kit.
SankeyMaster
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