visvarthana Report post Posted September 18, 2013 (edited) The data speak a thousand words and Charts speak more than that! Are you one among them who are interested in constructing fascinating charts, and do you believe management decisions can be done easily with few interpretations of charts, then you can spend some “time” to read this… Any activity/motion/process in this world not only consumes movement or energy, but they also consume time. Traditionally we have been ignoring time, time and again. Unless we work on trend or control charts we don’t represent time, instead we work to represent mostly the volume or results in our charts without giving time scale to it. No result can be produced without time and time always moves ahead and never comes back. Many a time it’s not a standard practice for us to attach or provide details of the time period of data along with any chart, and we require some manger with common sense to ask the question, which time period it represents and what is the trend in this time period. If we look at any output in the chart, it’s important to ask the time it consumed/it represents in a chart. A better way of representing is, every chart shall have time angle to it (only in trend/control charts and some or with a timeline). Today we miss them as an indicator in our charts, and occasionally people represent time in Chart title. Why it’s so important? It’s important to understand the movement of energy in a space along with time space, to make a decision which is applicable to the nearest timeline. It helps us to understand the seasonal variation (time space) of outcome and the current condition/latest time period of data. Our decisions are not made for the past, they are for the future and in order to ensure, it’s important to understand that we are looking at something which is nearer, if not how much older the data in time space, can we rely on it, all these are possible only with an understanding of time space. For example, we take an IT company's revenue in the last six months and it’s presented to the board of directors and they are asked to understand, which technology they are strong in terms of revenue making… Read more in the attached Article... Timeless Business Charts.pdf Edited September 18, 2013 by visvarthana Share this post Link to post Share on other sites
