Based on the available space, there are times when the vertical orientation of the Bullet chart appears to be more advantageous than the horizontal. The qualitative scale not only aids in visualizing the degree to which the target achievement falls within each of the three states of poor, satisfactory, and good The qualitative scaled could be configured in the following ways:
A Guide to Bullet Graphs
Who uses bullet charts?
In the workplace, bullet charts are helpful for displaying data in a variety of situations and can keep your goals in perspective. Those in the following careers might use bullet graphs frequently:
What is a bullet chart?
A bullet chart is a diagram created to show numerous data points in a constrained amount of space. It is based on the more conventional progress bar charts with a thermometer, gauge, and meter. It is possible to quickly display multiple data sets using a bullet chart. Typically, a bullet chart displays a single principal value with additional context.
Bullet charts often display the following types of data:
The components of a bullet chart
A bullet chart consists of four main components:
1. Text label
The primary measure that you’re displaying on the bullet chart should be described in the text label. Use the text label, for instance, to display revenue in thousands of dollars.
2. Target marker
The target marker is a thin line that is parallel to the chart’s axis. The target for your data is displayed alongside comparison data. A bullet diagram might, for instance, display a company’s target lead-to-client rate of 85% and its current rate of 65%. The target rate would appear as a tiny marker at 85%.
3. Achievement bar
A solid, slender, vertical bar known as the achievement bar or featured measure shows the actual value attained. It is the primary data of the chart. It is aligned with the target marker and displays your current level in relation to the goal.
4. Comparison range
Behind the achievement bar and target marker is the comparison range. Consider using a color scheme that progresses from the darkest to the lightest tone to clearly display the data stages.
How to create a bullet chart in Excel
Follow these steps to create a bullet chart:
1. Add your data into Excel
First, list the parameters for the comparison data. You could, for instance, select a range from poor to very good. Next, add your achievement data and target figure.
2. Create your target marker
Go to the Design tab, and click Change Chart Type. Make the secondary axis box visible under the series name “Target” and change the chart type to “Line Chart With Marker” Where you want your target data should now be marked with a dot. Select this dot and change it to a rectangular bar to make it a line marker.
3. Insert a column chart
Select your data and insert a 2-D cluster column chart. This chart will show six columns. Four will stand in for the comparative data that is poor, fair, good, and very good. The remaining two will display your achievement and target figures. Select the data in the chart and select Switch Row/Column to change it. Make sure the new, single column’s maximum axis value adds up to 100%.
4. Create the achievement bar
Choose the secondary axis in the Series option after selecting the series that displays the current achievement value. Consider using a strong color like blue or black to make this bar easier to see.
5. Compare data points with different colors
Select the values and choose a distinct color for each.
6. Double-check your inserted data
Ensure that your completed bullet chart correctly displays your data.
How to create a bullet chart in Tableau
Many business analysts use Tableau, a type of software, to aid in the visual display of data.
To create a bullet graph in Tableau, follow these steps:
What is a bullet chart in Excel?
The bullet chart, which shows outcomes in a single column, is useful for visually tracking performance against a target. The chart resembles a thermometer and can show one or more color-coded columns in one or more rows. Stephen Lew, a data visualization expert, created the bullet chart to improve the gauge chart.
How do you read a bullet graph?
Excel 2016. Progress towards a specific goal is typically shown using a bullet graph (so named by its creator Stephen Few) or bullet chart (in Microsoft Office): Both values, actual and target, can be shown as a percentage (see How to create a Bullet chart in Excel):
Can you make a bullet chart in Excel?
Bullet charts are a variation of bar charts. A featured measure (the bullet) is contrasted with a targeted measure (the target). Additionally, they contrast the compared measures with colored backgrounds that represent additional qualitative measurements like good, satisfactory, and poor.