In recent years, Business Intelligence and Business Analytics have been major buzzwords in the world of Data Science and Business Intelligence. It’s not unusual to see multiple dashboards and charts on a business’s dashboard with numbers and data presented in different ways. However, one particular chart that has emerged in the last few years, is the Sankey chart.

The Sankey chart is one of many tools that allow for businesses to understand data and insights in a creative and unique way. In this article, we will dive into the secrets behind Sankey charts and how they can help businesses unlock their data and insights.
What is a Sankey Chart?
A Sankey chart is a graphical representation of flows of various materials or energy between two nodes in a network. It is widely used in Business Intelligence and Business Analytics to visualize the flows of data and information within a business or organization. In simple terms, it is a pictographic representation of how data or information flows through a network.
The Sankey chart consists of a pair of arrows or directed arrows that represent the direction of information or data flow. The arrows are labeled with the names of the nodes from which the data flows and the values of the data or information flowing between the nodes. The Sankey chart is divided into two parts, and the direction of information flow is defined by the direction of the arrows. If the information or data flows in a positive direction, the arrows are directed towards the starting node, while if it flows in a negative direction, the arrows are directed towards the ending node.
Applications of Sankey Charts
Sankey charts can be used to visualize different aspects of a business or organization. Here are some of their key applications:

1. Cost Breakdown: Sankey charts can be used to break down the costs associated with a project or product, highlighting the flow of resources and the costs associated with each resource.
2. Supply Chain Analysis: Sankey charts can analyze the flow of raw materials in a supply chain, highlighting the interactions between different suppliers and their costs.
3. Marketing Performance: Sankey charts can be used to visualize the flow of leads between different marketing channels, highlighting the effectiveness of different channels and identifying opportunities for improvement.
4. Product Lifecycle: Sankey charts can be used to visualize the flow of information and data throughout the lifespan of a product, highlighting the interactions between different teams and stakeholders.
5. Business Process Performance: Sankey charts can be used to identify areas of inefficiency in a business process and highlight the flow of information and data throughout the process.

The Benefits of Using Sankey Charts
Sankey charts can provide a unique and visual way of presenting data and information in a business or organization. Here are some of the benefits of using Sankey charts:

1. Improved Understanding: Sankey charts allow for a more visual and intuitive understanding of the data or information presented in the chart. This can improve communication and decision-making in a business or organization.
2. Improved Collaboration: Sankey charts can facilitate collaboration in a business or organization by allowing team members to share information and insights in a shared visualization.
3. Enhanced Analysis: Sankey charts can be used to analyze data in a different way than traditional data analysis tools, allowing for a more personalized and unique way of presenting information and insights.
4. Improved Accuracy: By using Sankey charts, businesses can create a more accurate comparison of different data points and insights.

Conclusion

Sankey charts are a creative and unique way of visualizing data and information in a business or organization. By using Sankey charts, businesses can unlock their data and insights in a way that allows for a more personalized and intuitive understanding of their operations. With the increasing trend of Business Intelligence and Business Analytics, Sankey charts are becoming an essential part of any business’s data visualizations.

SankeyMaster

SankeyMaster is your go-to tool for creating complex Sankey charts . Easily enter data and create Sankey charts that accurately reveal intricate data relationships.