Sankey chart is a visual representation of complex data that displays relations between different components or items. It is particularly useful for visually displaying flow-based data, including resources, flows, or time-series data. In this article, we will discuss the secrets of Sankey chart creation and its applications, including the key components and their applications in understanding complex data better.
Key Components of a Sankey Chart
A Sankey chart consists of two or more groups of elements, the top group of elements being sources and the bottom group of elements being sinks. Each element in the top group can feed into one or more elements in the bottom group, and each element in the bottom group can receive resources from one or more elements in the top group. The flow of resources between these elements is represented by lines.
The key components of a Sankey chart include:
1. Source and Sink Elements: These elements represent the various sources and sinks of data that need to be visualized.
2. Feed and Reciprocal Flow: Each element in the source group can create a relationship with specific elements in the sink group, and vice versa. These relationships are represented by lines connecting each source to the corresponding sink.
3. Elements with Multiple Feed Relationships: In some cases, some elements in the source group can have multiple feed relationships with different sinks in the sink group. This is represented by elements with multiple arrows pointing to the sinks.
4. Element Labels: Every element in the source and sink groups has a label that describes its purpose, input/output flow, or other characteristics.
Applications of Sankey Charts
Sankey charts are useful for visualizing complex data that involves multiple aspects and relationships. The key applications of Sankey charts are:
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Resources: Sankey charts can be used to visualize the flow of resources over time or between different sources and sinks. This can help managers and stakeholders understand the resource allocation patterns and the impact of resource decisions.
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Flow-Based Data: Sankey charts are particularly useful for visualizing flows of data such as budget allocations, product flows, resource allocation, and resource consumption. They can help to identify bottlenecks, optimize resource usage, and plan future resources better.
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Project Management: Sankey charts can be used to visualize project timelines and progress, resources allocation, and financial flows. This helps stakeholders to see how resources are moving from one phase to another and the impact of decisions made during a project phase.
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Marketing: Sankey charts can help in visualizing customer flows, product flows, and sales trends. This can help businesses better understand customer preferences, optimize marketing strategies, and identify market opportunities.
Conclusion
In conclusion, Sankey charts are an excellent tool for visualizing complex data that involves multiple aspects and relationships. The key components of a Sankey chart, such as source and sink elements, feed and reciprocal flows, and label elements, enable it to represent data in a way that is both informative and easy to understand. Sankey charts can be applied to various industries, including finance, marketing, and project management, to improve decision-making processes and enhance data visualization.
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