Sankey charts are a powerful data visualization tool that can be used to show the flow of data or the allocation of resources. They are particularly useful in showing the source, target, and transformation of data. Sankey charts are named after their creator, Donald Sankey, an engineer at the Shell Oil Company who developed the chart in the 1960s.
Sankey charts can be created using various software tools, including Excel, Gephi, and Python libraries. In this article, we will discuss the basics of Sankey chart creation, as well as some applications of Sankey charts in different domains.
Sankey chart creation
The basic components of a Sankey chart are the source, target, and node elements. The source element identifies the initial point in the data flow, while the target element represents the final destination. The node elements represent the transformation of the data or the allocation of resources.
To create a Sankey chart, you need to have a data source, which can be a spreadsheet, a text file, a database, or another data source. The data source should contain information about the source, target, and node elements.
Once you have the data source, you can use a software tool of your choice to create the Sankey chart. Excel has a built-in Sankey chart function that allows you to easily create Sankey charts. Gephi is an open-source software platform that supports Sankey chart creation and offers a wide range of visualization options. Python libraries, such as Sankey and PySankey, offer a Sankey chart creation function in their respective modules.
Applications of Sankey charts
Sankey charts can be used in various domains, including finance, healthcare, and logistics. Here are some examples of how Sankey charts can be used in different domains:
- Finance
Sankey charts are particularly useful in finance as they can be used to visualize the flow of funds or assets. For example, a Sankey chart showing the flow of funds between banks could help analysts identify potential risks or opportunities.
- Healthcare
Sankey charts can be used in healthcare to visualize the flow of patients or medical resources. For example, a Sankey chart showing the flow of patients between different departments in a hospital could help administrators identify bottlenecks or inefficiencies in the system.
- Logistics
Sankey charts can be used in logistics to visualize the flow of goods or resources. For example, a Sankey chart showing the flow of goods between different stages in a supply chain could help logistics managers identify potential bottlenecks or areas for improvement.
In conclusion, Sankey charts are a powerful data visualization tool that can be used to show the flow of data or the allocation of resources. They are particularly useful in showing the source, target, and transformation of data. Sankey charts can be created using various software tools and can be used in various domains. By using Sankey charts, you can gain valuable insights into your data flow or resource allocation and make informed decisions.
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