Why is understanding basic graphs important?
Everyone needs to understand how to read graphs accurately and grasp the information being presented in them.
They are used often in management meetings when discussing various areas within the organization including sales, cost centers, funding and profitability.
While it may be somewhat challenging to understand how the graphs are developed based on the underlying data presented in them, the goal of a good graph is to help the viewer quickly grasp the intent of the entity creating the graph.
There are several basic graph types:
Line
Bar
Pie (Circle)
Histograms
Most of the graphs are ‘time dependent’ in that you’ll be seeing trends over the period of time presented.
For example, Line graphs show whether something is trending up or down changing over time.
Bar graphs are typically used to show ‘usage’ of something over a time period, for example, electrical energy usage of your home over a given year in monthly increments.
Pie graphs often show how you're spending your money in a monthly budget over various areas from rent, food, to entertainment.
Histogram graphs, while sounding complicated, are used to show data based on specific attributes like age versus income.
Information on graphs including creating and interpreting them are often presented in economic textbooks and beginning Algebra classes.
My goal is here is to use them to present important information in a graphical format but not teach how to create them. When I present graphs in my post, I’ll explain the relevant observations and conclusions provided in the graphs.
If you search YouTube for learning about graphs, there are very many to choose from.
Here’s an example: Reading Graphs
You can also search in Google where I found this example: Understanding How To Read Graphs
I recommend using caution clicking any links on the internet and suggest you have anti-virus software on your computer devices. I’m not recommending or endorsing any advertisements that may appear with the above examples if they appear or the authors themselves.
In conclusion, graphs are an excellent way to present numerical data in a visual and understandable manner.