Sankey charts, also known as flowcharts, are a graphical representation of the flow of goods, services, or money between two or more individuals, entities, or areas. They are a powerful visualization tool that can help us understand complex systems and see patterns and relationships that might otherwise go unnoticed. In this article, we will explore the basics of Sankey chart creation, as well as some real-world applications of these charts.
Sankey Chart Basics:
A Sankey chart consists of a set of interconnected circles, each representing a node in the system being studied. The arrows connecting the circles represent the flow of goods, services, or money between the nodes. The width of the arrow represents the magnitude of the flow, and the angle of the arrow indicates the direction of the flow. The chart is typically drawn in a way that allows us to see the overall flow pattern and the individual flows between each pair of nodes.
Sankey charts can be created using a variety of tools, including Visio, Excel, and online charting services like sankey.io. They are often used in fields such as economics, finance, logistics, and sustainability to illustrate the flow of goods and services, as well as to study the impact of various policies or changes on the system.
Applications of Sankey Charts:
Sankey charts have a wide range of applications, from understanding the flow of goods and services in a supply chain to analyzing the impact of a new policy on a particular industry. Here are a few examples of their use in practice:
- Supply Chain Management:
Sankey charts are often used to analyze supply chain systems and identify areas for improvement. For example, they can be used to visualize the flow of goods between different stages of production or distribution, and to identify bottlenecks or inefficiencies in the system. By mapping out the flow of goods through the system, supply chain managers can make better decisions about inventory management, production planning, and logistics.
- Eco-Efficiency Analysis:
Eco-efficiency analysis involves measuring the environmental impact of products or services, and identifying opportunities for reducing waste and improving resource efficiency. Sankey charts can be used to visualize the flow of materials or energy through an environmental system, allowing analysts to see where improvements can be made and to develop recommendations for reducing waste and improving efficiency.
- Policy Analysis:
Sankey charts can be used to analyze the impact of policies on a particular industry or system. For example, they can be used to visualize the flow of money or resources through an industry, and to measure the impact of changes to regulations or tax policies on the overall flow. This can help policymakers better understand the potential impact of their decisions and make more informed decisions about the future of the industry or system.
Conclusion:
Sankey charts are a powerful visualization tool that can help us understand complex systems and see patterns and relationships that might otherwise go unnoticed. By mapping out the flow of goods, services, or money between different nodes in a system, these charts can help us identify areas for improvement, make better decisions about resource allocation, and understand the impact of policies on a particular system. Whether you are a supply chain manager, an environmental analyst, or a policymaker, Sankey charts can be a valuable tool in your toolbox.
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