Statistical Graphs have the ability to make numeric data more presentable and meaningful at a glance and hence are widely used in the corporate sector to quantify numbers. There are different kinds of graphs statistics that are used by people around the world to quantify and compare qualitative data. Essentially a graph helps in conveying significant and necessary information quickly as opposed to reading a report about finance or numbers. Statistical graphs also focus on the relevant features in the data and signify the relationship between numbers and value against what they are measured. You can also compare data easily with the help of a graph and keep it clutter free.
Let us take a look at the different kinds of graphs statistics that are used to signify and simplify data.
Pareto Diagram – The Pareto Diagram is probably the most widely used graph of all statistical graphs. It also goes by the name Bar Graph and consists of different bars for different categories for a set of qualitative data. The significance is placed on the important categories by arranging the bars in an order of frequency, so the data can be simplified. The height of the bar denotes the numeric statistics of the data.
Pie Chart – These kinds of graphs statistics are also known as circle graph and it displays a qualitative data in the shape or form of a pie. The pie is further divided in different slices that denote the different categories and the percentage of the data or statistics. In comparison to the Pareto Diagram, the pie chart is less flexible and hence the Pareto Diagram is widely used over a Pie Chart.
Histograms – Histograms, like bar graphs use bars to display the statistics. These kinds of graphs statistics are used to quantify data. The values – known as classes are mentioned at the bottom of the chart. The actual concept of histograms is that the greater the frequency of the classes, the higher the length of the bar.
Stemplots – These kinds of graphs statistics are also known by the name stem and leaf plots and are commonly used in regards with quantitative data to showcase shapes of the distributions, to categorize the numbers and make them easy to understand. These graphs are categorically separated as per the actual numeric value and are divided as the stem and the leaf. This type of graph mentions all the data in a compact and easily readable format.
Scatterplots – The Scatterplots is a type of a graph that showcases data which can be balanced by using parallel axis and vertical axis. The statistical elements of regression and correlation are combined to denote on the Scatterplots chart.
Dot Plot – A dot plot is in general a combination of histogram and Stemplots. The qualitative value turns in to a dot, which is placed above the approximation value.
All these different kinds of graphs are widely used in a professional set up to compare data and simplify it so it becomes easy to read at a glance.