Sankey charts are a type of flowchart that are used to visualize the flow of data or materials between different entities. They are particularly useful for analyzing and understanding complex networks or systems. In this article, we will explore the basics of Sankey chart creation and the various applications for streamlining data analysis.

What are Sankey Charts?

Sankey charts are a type of flowchart that are used to visualize the flow of data or materials between different entities. They are particularly useful for analyzing and understanding complex networks or systems. The chart is named after the Irish biologist and geographer Dr. Frank Sankey, who developed the method in the early 20th century. Sankey charts are commonly used in fields such as finance, economics, transportation, and healthcare.

How to Create a Sankey Chart

Creating a Sankey chart requires a few simple steps:

1. Identify the data source: The first step in creating a Sankey chart is to identify the data source. This may be a spreadsheet, a database, or a collection of documents.
2. Choose a software: There are several software programs that can be used to create Sankey charts, including Microsoft Excel, Lucidchart, and Power BI.
3. Import the data: Once the data source is identified and the software is chosen, the next step is to import the data into the software. This may involve copying and pasting the data into a spreadsheet or database, or exporting the data from another program.
4. Set up the chart: Once the data is imported, the next step is to set up the chart. This may involve selecting the desired entities and flowtypes, defining the order of the chart, and customizing the chart’s appearance.
5. Export the chart: Once the chart is set up, the final step is to export the chart to a file or share it with others. This may involve selecting the desired file format, sharing the chart via email, or embedding it in a document.

Applications of Sankey Charts

Sankey charts are a powerful tool for streamlining data analysis and understanding complex systems. Some of the key applications of Sankey charts include:

1. Financial Analysis: Sankey charts can be used to analyze the flow of funds or assets between different entities, such as between different investment accounts or between different departments in a company.
2. Supply Chain Management: Sankey charts can be used to visualize the flow of goods or materials between different entities, such as between suppliers and manufacturers or between distribution centers and retailers.
3. Healthcare: Sankey charts can be used to analyze the flow of patients or medical resources between different healthcare providers or between different locations in a healthcare system.
4. Environmental Analysis: Sankey charts can be used to analyze the flow of waste or pollutants between different locations or between different stages of a process.

In conclusion, Sankey charts are a powerful visualization tool for data analysis and understanding complex networks or systems. By following the easy steps outlined above, you can create and customize Sankey charts to meet your specific needs. Whether you are analyzing financial data, supply Chain, healthcare or environmental data, Sankey chart can help to identify bottlenecks, opportunities and areas for improvement.

SankeyMaster

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