Information from graphs and charts
Businesses have access to a lot of numerical information, also called Quantitative research is explaining phenomena by collecting numerical data. This data is then analysed using mathematically based methods. information. Businesses often use this information to help them make business decisions. Such information might be available in internal documents, such as sales reports or financial documents, and other information might come from external sources, such as government statistics.
This information may be presented in a number of different ways. Therefore, in order to use the information, a business will need to be able to interpret charts and graphs.
Charts
A chart is used to present information in the form of a graph, a diagram or a table. There are many different types of chart, including A chart showing values that are represented as proportionately sized slices of pie., A type of graph showing values that are represented by rectangular bars., A type of chart that uses an illustration to represent information. and A graphical image which contains, or is generated from, data and statistics.. Examples include:
Graphs
A graph is a specific type of chart that illustrates a relationship between two or more A quantity that can change or that may take on different values. Variable also refers to a letter or symbol representing such a quantity.. These are often plotted on two axes, vertical and horizontal. All graphs are types of chart, but not all charts are graphs. Examples of graphs include:
Reading data from graphs and charts
When extracting information from charts and graphs, it is important to:
- identify any trends the graph or chart shows
- check the scales used on the An axis is one of the lines used to locate a point in a coordinate system.
- be aware of whether the data show units, A proportion representing parts per hundred, for example 9% is 9 out of 100, or 9/100. or Percentage change is a mathematical concept that represents the degree of change over time. The figures are arrived at by comparing new and old values according to a specific formula.
- read the chart title and any labels used
It is very easy to misinterpret information from graphs and charts, so always double check that you have read them correctly.