1. Histograms
Histograms are used to chart quantitative data. You are going to create a histogram to show the distribution of Volumes from the ASX data for different dates.
2. Column chart vs histogram
Recall, column charts plot categorical data for comparison. Histograms, on the other hand, show a representation of the distribution of numerical data and the data is grouped into bins or intervals. There are also no gaps between the series in a histogram because there are no gaps between the bins. A gap in a bin would mean that there are 0 values in that bin.
3. Changing to a histogram chart
Let's see how this chart works. As always, the first step is to select the range you want to chart, then select the Chart icon on the toolbar to create your chart. A column chart will be created automatically, so you will need to change the type from a column chart to a histogram.
4. Frequency distribution
You should now be able to clearly see the volumes from the date range within the bins and the underlying frequency distribution or shape of the continuous data.
Drag the chart to the left of your data, so you can still see the data it comes from, and place it on your dashboard. Remember, if you resize a chart using the squares at its corners, it will size as long as it is wide. If you use a middle square to resize the chart, it will stretch.
5. Formatting your histogram
As with the other charts, formatting your histogram is all done on the Customize tab in the Chart editor.
You can change most of the normal things here, like titles, series, legend, axis, gridlines, and more, but there is another feature that can add punch to your chart. Under Histogram, you can select Show item dividers, which segments your columns, so you can easily show how many lots are in each bin. This will allow your reader to easily discern the information you are displaying.
You can also change the Bucket size and Outlier percentile in this spot. Remember, be cautious not to overdo your formatting or use too many colors.
6. Whats the drawback?
Finally, you have your finished histogram, clear and professional. Just one thing to remember; sometimes a histogram can present data that is misleading. For example, using too many bins can make analysis difficult, while too few can leave out important data, so really think about the stats you want to display.
7. Practice time!
Now its your turn to get the data you want on your dashboard and create a histogram from it. Good luck!