Box & Whisker charts are used for a statistical analysis of the data set. They come along with Excel 2016, and serve to show the statistical distribution of data according to quartiles, emphasizing the mean, maximum and minimum values. In business, they can be used, for example, to analyze the turnover of an item byclass or sales group. Then we analyze the value distribution, based on which we can make conclusions about future values.
In one of the earlier „recipes“ I briefly described the statistical functions in Excel. My knowledge of statistics is quite modest (one of these days will probably take some additional lessons to improve my knowledge). However, I would like to dedicate one article to this area. On a practical case, the analysis of wages in a small company, I’ll show you how you can use these functions to make you come up with some interesting conclusions.
It’s not too difficult to create a chart, but you need to choose the type that best reflects our data. Excel has a multitude of charts, and every one of them suits best certain types of data. In the text that follows you will meet most commonly used charts, with suggestions on how to choose the right one that will meet your needs.