The Insert tab in the Excel spreadsheet provides a user with different ways of inbuilt charts that can be added in analysis to visualize data. Creating Excel charts is not an arduous task so long as you have accurate and well-organized data. One of the charts you can add is a Pie chart. It is a circular-shaped graph that is divided into slices. The slices represent a percentage of the whole chart, which is 100%, and the size of a portion (length) is proportional to the value, quantity, or data percentage it represents.
The article below shows you how to create pie charts in excel and why these charts are essential for reporting. Please read on to find out this.
Steps to follow when creating a Pie chart
- From the Microsoft Office Suite, click on the Microsoft Excel program. On the empty spreadsheet, type in your data; you want to create a pie chart; if you would instead make the pie chart from the information you already have, double click on the Excel file that contains this data to open it.
- Select all the data you want to be represented in your Pie. Click on the first cell of the first row and column, hold shift and click the last cell of the previous row and column of your data list.
- From the main menu ribbon, access the Insert tab. Go to the Charts group and click on the Pie icon drop-down arrow. Several options will appear here, namely 2-D Pie, 3-D Pie & Doughnut.
- Lick on the option you prefer. A pie chart with the selected data will be created on your spreadsheet.
- Design your Pie Chart. To customize your chart’s appearance, you have to click on the chart first (select it) for a design tab to be displayed. Here you can change your chart’s color or style, format things like data labels and axis titles, and chart filters can be applied.
Reasons as to why charts are essential for reporting
- Charts are an excellent way to represent, illustrate and help visualize extensive data in a clear and concise graphical manner.
- They are simple and easy to read as they represent data as a fraction of a whole.
- They help save when the top management is looking at financial projections, budget distributions, and analysis.
We have explained to you the importance of pie charts in excel and how to create them. From the steps mentioned above, you can make these charts while doing your financial analysis to make the presentation more smart and easy to read.
- Charts work best when none of the data values are zero or less than zero.
- When you have not more than eight slices, your chart will be easier to read. So if you have data that may need more than ten slices, this may be pretty hard to read, and you can opt to use other different chart styles like bar or line graphs.