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There are several alternative data visualization methods that can be used to communicate changes in budget allocation over time. Some of these include line graphs, bar graphs, pie charts, stacked area charts, and waterfall charts. Line graphs can show trends over time, while bar graphs can compare different categories. Pie charts can show proportions of a whole, and stacked area charts can show how different components contribute to a total over time. Waterfall charts can show the cumulative effect of sequential positive and negative values, which can be useful for understanding changes in budget allocation.
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Need to translate complex data into actionable items? Our collection of data visualization charts addresses this hurdle with a variety of charts, grap...
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Even financial reporting doesn't need to be so cut-and-dried. For instance, this bubble chart is used to quantify and summarize departmental budget. Large bubbles imply significant budget areas. So even without looking deeply at the numbers, viewers can easily make out budget priorities in just a glance. The chart also communicates changes in budget allocation from year to year. In this case, even though Department C was previously given lots of attention, it's since demoted into a much less important role. Often, this can mean a pivot in a company's strategic priorities, or just a general cut in budget across the board.
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