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More Informative Ways to Chart Data

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    More Informative Ways to Chart Data

    Hello,

    I'm presenting data that shows our supplier hasn't changed their pricing in line with fluctuations in the market. The data is normalized as to show % increase/decrease over the past two years. I'm wondering if there are better charts/ways to show this data. I'm ok with how I'm presenting it as is, but just curious. Are there clearer methods/graphs? What are the interpretations of these methods?

    Thanks!,
    Aaron

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    Last edited by astumpf13; 02-13-2018 at 02:19 PM. Reason: Issue solved

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    Forum Expert ben_hensel's Avatar
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    Re: More Informative Ways to Chart Data

    I think that's about as clear as the Chart is going to get. Well, you can fiddle with the color and line types to "group" them; so that metal materials, non-metal materials, and currency are meaningfully "different" but similar to others of the group, ie, different line types per group, and in color-groups, that kind of thing.

    But fundamentally I think that you're past the "soft upper limit" of how many series you can put in one chart and still have it be easy-to-read.

    Also I'd push you to put actual dates along the bottom axis there, so that it's a little more clear what the timeframe is, precisely.
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    Re: More Informative Ways to Chart Data

    This is probably an OK way to plot your data, but I am struggling to make a business interpretation of what you are showing.

    What is your supplier supplying to you? I am asking this because I would be amazed to learn that there is a single source where you can procure all those commodities since they are raw materials.

    Are all those colored lines the price fluctuations from your supplier, or of the market? Is the red line the price changes from your supplier, or the market?

    The red line is marked "Price Changes (Average)" but if you are averaging prices for all those different goods, you are averaging apples and oranges. The markets for those goods are so diverse that I would think it would not make sense to average them. I would think you would have to show a separate chart for each comparison of market prices vs. your supplier's price for each commodity.

    The title on your vertical axis refers to "%" but the numbers on the axis are factors. This should be consistent. If you want to talk about % then the numbers should be percentages, with 1 changed to 100%.

    I'm OK with skipping dates on the bottom but your title should be explicit. Is it two full years from 1/1/2015 - 12/31/2016, or 7/1/2015 - 6/30/2017, or something else?
    Jeff
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    Re: More Informative Ways to Chart Data

    Hey Jeff,

    Thanks for the response. The commodities (various colors) are aggregated data from a variety of sources (exchanges, markets, brokers, procurement groups etc.). The red line is the average price increase/decrease on our finished good we saw from our supplier. They may have given us a 3% drop on widgets and a 2% drop of fidgets, so the average at that time would be 2.5% as a whole decrease over their portfolio.

    Understood your comment about comparing apples and oranges. I wanted to split it up, including estimated % spend by that supplier on the commodity for each product category, but I'm concerned that graph would become too much. I also don't really know how I can weigh the data based on % spend.

    I agree I need dates on the bottom. It looked loaded up with 1/1/2015-12/31/2017 monthly dates, so I'll spread out the axis intervals.

    Thanks for your thoughts,
    Aaron

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    Re: More Informative Ways to Chart Data

    Thanks Ben, I'll make to add the dates back in. As my response to Jeff below indicates, the monthly dates on the x axis made it busy. I'll spread out the axis intervals.

    Thanks,
    Aaron

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