Five Advanced Excel Charts and Graphs

Following are the five advanced Excel charts and graphs:

  1. Actual vs. target chart
  2. Bullet chart
  3. Funnel chart
  4. Scatter chart
  5. Histogram

 

Actual vs. target chart

The ‘Actual vs. target’ chart is a combination chart that requires some formatting. You can’t insert this chart straightaway into your Excel spreadsheet.

Use this chart when you have got multiple goals and you want to show progress towards each goal. The chart below shows whether target sales were achieved in each quarter:

This chart is based on the following data table:

Bullet chart

A Bullet chart is a combination chart (though it looks like a single bar chart) which is used to show progress towards a single goal using a range of predefined qualitative and quantitative parameters. 

You can’t insert this chart straightaway into your Excel spreadsheet and it is also quite tricky to create. If you have multiple goals and you want to show progress towards each goal then use the ‘Actual vs. target’ chart. 

But if you have only one goal and you want to show progress towards this goal (by using both qualitative and quantitative data) then use the bullet chart.

A bullet chart can be a vertical bar chart or horizontal bar chart. The choice of vertical or horizontal alignment depends on the space available to use for data visualization.

The chart below shows the performance of sales in Quarter 4:

This chart is based on the following data table:

If the actual sales are between $0 to $240,000 then sales performance is considered ‘Poor’.

If the actual sales are between $240,000 to $300,000 ($240,000 + $60,000) then it is considered ‘Fair’.

If the actual sales are between $300,000 to $360,000 ($240,000 + $60,000 + $60,000) then it is considered ‘Good’.

If the actual sales are between $360,000 to $400,000 ($240,000 + $60,000 + $60,000 + $40,000) then it is considered ‘Excellent’.

 

Funnel chart

As the name suggests the funnel chart is used for funnel visualization. It is perfect for showing lead funnel and sales funnels. This chart is available in MS Excel (2016 and above). You just need to select your data table and then insert the ‘Funnel’ chart.

The chart below shows different stages of the purchase funnel and how user moved from one stage to the next:

 This chart is based on the following data table:

Scatter chart

Consider using a scatter chart when you want to analyze and report the relationship/correlation between two variables:

From this chart, we can conclude that the relationship between the two variables (‘x’ and ‘y’) is linear. What that means, as the value of the variable ‘x’ increases there is a corresponding increase in the value of the variable ‘y’.

Create a scatter chart only when there are ten or more data points on the horizontal axis. The more data points the better it is for a scatter chart. Conversely, just a few data points (like five or six data points) are not good enough for creating a scatter chart.

Use a scatter chart when you want to show ‘why’. For example: why revenue is correlated with average order value or why conversion rate is correlated with the number of transactions.

 

Histogram

Use a histogram to show frequency distribution for quantitative data:

Note: You would need to install the Analysis ToolPak in order to create a histogram in Excel.

 

To learn more about different types of charts, check out the article: Best Excel Charts Types for Data Analysis, Presentation and Reporting

 

Do you know the difference between Web Analytics and Google Analytics?


99.99% of course creators themselves don’t know the difference between Web analytics, Google Analytics (GA) and Google Tag Manager (GTM).

So they are teaching GA and GTM in the name of teaching Web analytics.

They just copy each other. Monkey see, monkey do.

But Web analytics is not about GA, GTM.

It is about analyzing and interpreting data, setting up goals, strategies and KPIs.

It’s about creating strategic roadmap for your business.


Web Analytics is the core skill. Google Analytics is just a tool used to implement ‘Web Analytics’.

You can also implement ‘Web analytics’ via other tools like ‘adobe analytics’, ‘kissmetrics’ etc.

Using Google Analytics without the good understanding of ‘Web analytics’ is like driving around in a car, in a big city without understanding the traffic rules and road signs.

You are either likely to end up somewhere other than your destination or you get involved in an accident.


You learn data analysis and interpretation from Web analytics and not from Google Analytics.

The direction in which your analysis will move, will determine the direction in which your marketing campaigns and eventually your company will move to get the highest possible return on investment.

You get that direction from ‘Web analytics’ and not from ‘Google Analytics’.


You learn to set up KPIs, strategies and measurement framework for your business from ‘Web analytics’ and not from ‘Google Analytics’.

So if you are taking a course only on 'Google Analytics’, you are learning to use one of the tools of ‘Web analytics’. You are not learning the ‘Web analytics’ itself.

Since any person can learn to use Google Analytics in couple of weeks, you do no get any competitive advantage in the marketplace just by knowing GA.

You need to know lot more than GA in order to work in Web analytics and marketing field.


So what I have done, if you are interested, is I have put together a completely free training that will teach you exactly how I have been able to leverage web/digital analytics to generate floods of news sales and customers and how you can literally copy what I have done to get similar results.

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1) The number 1 reason why most marketers and business owners are not able to scale their advertising and maximise sales.

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Himanshu Sharma

Digital Marketing Consultant and Founder of Optimizesmart.com

Himanshu helps business owners and marketing professionals in generating more sales and ROI by fixing their website tracking issues, helping them understand their true customers purchase journey and helping them determine the most effective marketing channels for investment.

He has over 12 years experience in digital analytics and digital marketing.

He was nominated for the Digital Analytics Association's Awards for Excellence.

The Digital Analytics Association is a world renowned not-for-profit association which helps organisations overcome the challenges of data acquisition and application.

He is the author of four best-selling books on analytics and conversion optimization:

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