Tip 1: How to analyze graphics
The chart can be linear, in the form of bars and so-called "Japanese candles". The most popular and most often used type is a line graph, when one quantitative indicator corresponds to one time reference. For most analytical calculations this is quite sufficient. To build such a schedule, you will need indicators at specific time intervals. For example, sales for every day. Analyzegraphics it is better for several years to identify general trends.
Compare several graphs for the year. Depending on what is the object of the study, determine how the parameters change depending on the season. For example, sales of soft drinks in the summer months increase significantly. The same applies to finishing materials, since the population also repairs apartment renovation in the warm season. Such seasonal fluctuations will allow to adjust the delivery of goods to the warehouse in such a way that neither their overstocking nor shortages occur.
Analyzing the daily schedule, you can notice not only seasonal fluctuations in demand. If its sawtooth line, then look at what days of the week sales peaks fall. Most likely, this is Saturday and Sunday. Such projected periodic highs of customer activity will also help you take this into account in your store.
If you collect data on each type of goods, you can study the trend in the graphs - an upward or downward trend that covers the fluctuation of demand for goods for a long time. A trend is distinguished by a sequence of highs and lows, but in an uptrend, each next pair of highs and lows is higher than the previous one. The trend will help you determine the popularity of which product is growing, and which one is declining.
With the concept of "schedule" anyone faces constantly. Everyone knows: the schedule of functions, the schedule of the train, the schedule of sales and the schedule of temperature changes. They are used not only by schoolchildren studying the change in quantitative indicators over time. This is a convenient form of presenting information that is used in various areas of daily human activities.
It is known that the most convenient for perception is the graphic form of data presentation. At its core, the graph is a display of the change in one of the parameters depending on the change in the other. So, in mathematics, the graph of a trigonometric function displays its value depending on the angle change, in statistics it is a display of quantitative indicators for certain periods over a period of time.
Based on observational and measurement data, the graph, which is a curve, makes it possible at first glance to understand how indicators have changed over time, analyze them and make a forecast of how a process will evolve in the future, identify trends in this development, its conditions and prerequisites. To construct the graph, a rectangular coordinate system is used. On the abscissa axis, usually fixed values are deposited, for example, time, with a certain equal interval - a scale. On the ordinate axis - the measured or calculated values of the function.
Graphs are very popular among statisticians and financiers. These time series are used to analyze the profitability of a huge number of securities, forecast price changes and inflationary processes. Having data on the value of a security or the price of a certain set of products - a consumer basket for a fixed period of time, experts can analyze them and predict a rise or rise in prices, inflation.
When constructing graphs, the choice of the time interval that will be displayed on them depends on the compression of the data. Data can be received several times a day, daily, weekly and monthly. The smaller the gap between measurements, the more detailed and accurate the graph will be. But, at the same time, the more the data is compressed on the chart, the more information can be reflected on it.