A funnel is a type of chart that shows progress through a series of linear and interconnected stages in which the data values typically decrease. It is often used to represent stages in a sales process and show the amount of potential revenue for each stage.
A well-known adage says "a picture is worth a thousand words".
Pictures can capture attention, quickly convey information and clarify complex concepts.
And Research shows images can be effective in business.
Facts about Funnel chart:
A funnel chart as the name suggests when plotted represents look like a Funnel.
The higher part is called the Head and the lower part is called the Neck.
A Tableau funnel chart is a type of visualization that represents linear workflows in decreasing order.
A funnel is also called a pipeline. It helps readers quickly make sense of trends in data.
A funnel chart is not an option in Show Me. You have to create it by yourself.
A funnel chart is usually shown in an inverted pyramid.
This is essentially a funnel chart turned upside down.
The final stage is at the top rather than the bottom.
We have to follow some steps to accurately and effectively represent data in a funnel chart.
If the number of sections is between 4 and 6, we can use a funnel chart. Any lower won't add much insight, any more becomes confusing to read.
Example of Funnel chart with 4 sections:(West, East, Central, South)
Find the sum of sales based on the Region.
Example of a Funnel chart with more than 4 sections:
Find the sum of sales based on the sub-category
If we have more than six-section in our funnel chart, we are not able to analyze the data. It is difficult to find the bottleneck. So funnel chart is not suitable for this situation.
Example of Funnel chart with filters:
Find the sales of the top 6 records based on subcategory
Find the sales of the top 6 records based on subcategory using Barchart
The visual representation of data in the Funnel chart is better than in the bar chart. In the Funnel chart, we can easily read and understand the data. And also we can easily identify the problem areas.
2. Use different colors or shades of color for each section of the funnel. So readers can quickly distinguish between them.
3. Make any text or caption short and easy to read.