Tag Archives: Charts

How to create Custom Data Labels in Excel Charts

I received a query from a customer about dynamic data labels for charts. Instead of replying directly, I thought of writing this article. This will help all of you in refining your charts. The idea is to create a chart which explains the fluctuations using text based explanations. The best part is, the explanation can be a part of the data itself.
Watch the two minute video and read details below. This works with Excel 2013 onwards. I have also included the solution for older versions, which is not as elegant, but it works.

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Quality Management 5: Pareto Chart

Pareto chart is used to analyze important factors and prioritize action items. It is a combination of bar and line chart. Bar chart shows the data in descending order of importance and line chart shows cumulative percentage. It is popularly known as the 80:20 rule. We will see three ways of creating this chart using Excel.

Pareto chart Quality Management

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Quality Management 4: Histogram (any version of Excel)

Histogram is used to visualize the frequency with which data occurs. This is a good way of understanding data more than just sum and average. It is a good idea to look at each data set you get as a histogram. Here is how you do it in Excel.

Quality Management: Histogram in Excel

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Quality Management 3: Create Run Charts in Excel

Run charts are simple line charts drawn against time. The idea is to visualize the pattern and trend of captured data. The data could be about defects, issues, observations or variability. Let us see how to manage this using Excel.

Create run charts in Excel

Photo credit: tudedude / Foter / CC BY-NC-SA

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In-depth: Excel Recommended Charts

Now that we know about Excel Recommended Charts, let us explore it in-depth. This is an implementation of artificial intelligence or machine learning at your fingertips. Don’t underestimate it… exploit it.

Excel recommended charts

Photo credit: Elsie esq. / Foter / CC BY and salendron / Foter / CC BY-NC-SA

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