Sankey charts are a visual representation of flow and transformation in data. They are particularly useful for identifying patterns and relationships in complex systems, such as supply chains, financial transactions, or social networks. In this article, we will explore how to create Sankey charts and the various applications of this powerful data visualization tool.
What are Sankey Charts?
Sankey charts are a type of flowchart that allow users to visualize the flow of goods, services, or ideas through a system. They are named after their creator, Helmut Sankey, who developed the charts in the 1920s. The charts are particularly useful for identifying bottlenecks, inefficiencies, and opportunities for improvement in complex systems.
Sankey charts can be used to visualize a wide range of data flows, including:
- Supply chain management: Sankey charts are a useful tool for visualizing the flow of goods and services through a supply chain. This can help identify areas where improvements can be made, such as reducing lead times or reducing costs.
- Financial transactions: Sankey charts can be used to visualize the flow of money through a financial system, including loans, investments, and transactions. This can help identify areas where fraud or abuse may be occurring.
- Social networks: Sankey charts can be used to visualize the flow of people and ideas through a social network. This can help identify areas where the network may be vulnerable to attacks or influencing behaviors.
How to Create Sankey Charts
Sankey charts can be created using a variety of desktop applications, including Microsoft Visio, Lucidchart, and Draw.io. These applications provide a range of templates and shapes that can be used to build the chart.
To create a Sankey chart, follow these steps:
- Open a new document in the chosen application.
- Insert the required shapes, such as nodes, links, and filters, to represent the data flow.
- Customize the chart layout, including the position of the nodes and the style of the links.
- Connect the required nodes and links to create the chart.
- Format the chart to display the data in an easy-to-read format.
Applications of Sankey Charts
Sankey charts are a powerful data visualization tool that can be used in a wide range of applications. Some of the common applications of Sankey charts include:
- Supply chain management: Sankey charts can be used to visualize the flow of goods and services through a supply chain, allowing organizations to identify areas where improvements can be made to reduce lead times or costs.
- Financial management: Sankey charts can be used to visualize the flow of money through a financial system, including loans, investments, and transactions. This can help organizations identify areas where fraud or abuse may be occurring and take action to prevent it.
- Social network analysis: Sankey charts can be used to visualize the flow of people and ideas through a social network, allowing organizations to identify areas where the network may be vulnerable to attacks or influencing behaviors.
- Customer experience mapping: Sankey charts can be used to visualize the flow of customers through a product or service, allowing organizations to identify areas where improvements can be made to improve the customer experience.
Conclusion
In conclusion, Sankey charts are a powerful data visualization tool that can be used to visualize flow and transformation in a wide range of data flows. They are particularly useful for identifying patterns and relationships in complex systems, such as supply chains, financial transactions, or social networks. By understanding how to create and apply Sankey charts, organizations can gain valuable insights into their data flows and take action to improve efficiency, reduce costs, and identify areas for improvement.
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