Thermometer chart in excel

Today we talk about Thermometer chart in excel.

Have you ever found yourself needing to visually represent your goal progress in a way that’s both effective and engaging? That’s precisely where the thermometer chart in Excel shines. Personally, I once struggled to communicate my sales targets of $100,000 against my actual sales of $75,000. However, after I discovered how to create a thermometer chart, I was able to visualize my data clearly, which truly made a difference in how my team and I approached our goals. This guide will provide you with clear steps backed by specific data to create a thermometer chart that conveys your progress effortlessly.

Steps for Creating a Thermometer Chart in Excel

1. Establish Your Data Sets

To kick off, I identify my key data points, which in this case are my target and actual revenue. For example, let’s say my target is $100,000, and my current sales performance is at $75,000. This sets the stage for my thermometer chart!

2. Determine the Chart’s Input Numbers

Next, I focus on specific input numbers that support my chart. For instance, I might also want to calculate the “remaining amount” needed to reach my target, which would be $25,000. Having these clear numbers leads to a more effective thermometer chart.

3. Create a Stacked Column Chart

Now, I head over to Excel and select a stacked column chart from the “Insert” tab. When I did this using my numbers, I highlighted both the target ($100,000) and actual performance ($75,000). A stacked chart perfectly captures the relationship between these figures.

4. Stack the Data Series

I make sure that the actual sales figures stack on top of the target revenue within the chart. By aligning them this way, anyone glancing at the chart can quickly see the current performance against the overall target.

5. Change the Marker Colors

Color sets the tone! I usually select a vibrant green for actual performance ($75,000) and a light gray for the target value to make the chart visually responsive. These contrasting colors make it easier to read at a quick glance.

6. Add the Data Label

Next, I add data labels to both the actual and target bars. For instance, I label the actual achievement as “$75,000” and the target as “$100,000.” This provides instant clarity and keeps the audience informed.

7. Reposition the Data Label

For better visibility, I often choose to place these labels inside the bars. This placement reduces clutter around the chart and enhances readability, allowing viewers to easily interpret my data.

8. Change the “Target Revenue” Axis

Adjusting the axis for my target revenue ensures that it correctly represents my figures. I input $100,000 as my maximum, directly relating it to my primary axis. It’s essential for the display to make sense at a glance.

9. Modify the Second and Primary Axis

To fine-tune my thermometer chart further, I modify both axes to correctly reflect my sales figures. Setting them correctly is vital – if the primary axis shows $50,000 to $100,000 and the secondary axis shows anything less than $50,000, it can mislead viewers.

10. Change the Number Format

I typically format my numbers in dollars to make them relatable. When my target is $100,000, representing various figures as currency emphasizes the importance of the numbers and enhances the visual impact of my thermometer chart.

11. Remove Titles and Chart Details

For a cleaner look, I remove unnecessary titles and excessive details from the chart. This helps to keep the focus on the actual comparison between the target revenue and the actual performance. A clutter-free chart speaks loudly!

12. Change Gap Widths for Primary and Secondary Axis

Adjusting the gap widths improves visual separation between different data components. For example, changing the primary axis gap width to 50% and the secondary axis to 40% allows for better visual differentiation. I find this really enhances engagement when presenting to stakeholders.

13. Insert the Thermometer Bulb

Lastly, I insert a circular shape at the bottom of the chart to represent the thermometer bulb. This visual element will help visitors instantly recognize the chart’s purpose as a thermometer chart.

Dynamic Thermometer Chart with Different Colors

Using Conditional Formatting for Color Changes

In scenarios where sales fluctuate, I employ conditional formatting to change the color of my thermometer chart based on performance benchmarks. For example, when performance is above $90,000, I switch the color to green, but if it’s below $50,000, it turns to red, making it visually urgent. This approach draws attention and can convey a necessary sense of urgency regarding reaching goals.

Advantages of Thermometer Charts

Visual Representation of Progress Toward Goals

The supreme advantage of a thermometer chart is that it presents a clear visual representation of progress. When I used it in a recent project aimed at increasing sales to $150,000, the immediate visual prompted conversations and focused efforts, helping my team reach $145,000, with only $5,000 left to hit our target, something that text alone could have never achieved.

Application of Thermometer Chart in Excel for Dashboard Reporting

Integrating with Other Excel Charts

When I create a dashboard report, I often integrate my thermometer chart with line charts reflecting monthly progress toward the target. Recently, combining a thermometer chart with pie charts for individual product performance yielded a comprehensive view of my sales strategy. It clearly indicated where I stood with different products, making it easy to adjust as needed.

Things to Remember About Thermometer Chart in Excel

Common Mistakes to Avoid

One major mistake I’ve observed is the failure to update data sets as new sales figures come in. If I kept my target at $100,000 while my actual sales were $90,000, it could mislead stakeholders into thinking we were further from our goal than we truly were.

Creating a Goal or Risk Monitoring Thermometer Chart in Excel

Setting Up Key Performance Indicators

Establishing clear KPIs is crucial. For instance, I may decide to monitor multiple performance indicators, like customer acquisition cost or service response times, alongside sales. This framework allows me to visualize multiple KPIs on a single thermometer chart, making it easier to monitor both achievements and risks.

Conclusion

Final Tips for Effective Thermometer Charts

Ultimately, keeping your thermometer chart intuitive, informative, and visually appealing is key. I always use consistent colors and clear labels to ensure my audience immediately understands what each measurement represents. A well-crafted thermometer chart can significantly enhance presentations and reporting, making performance data accessible at a glance.

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Learning Resources for Excel Users

For ongoing learning, I suggest various online resources, including tutorials and webinars dedicated to Excel. I’ve personally found platforms like ExcelJet and Microsoft’s own resources immensely helpful in sharpening my Excel skills.

FAQ

Is there a thermometer chart in Excel?

While Excel doesn’t offer a built-in thermometer chart, you can create one efficiently using a stacked column chart, making it a useful tool for visualizing goals and performance.

How to make a temperature chart?

A temperature chart can be created by customizing a thermometer chart. Utilize temperature data plotted against time to visualize changes effectively over the desired period.

How do I create a heat map chart in Excel?

Creating a heat map is achievable through conditional formatting, applying color scales to a data range to indicate variations in values visually and effectively.

How to make a thermometer graph in sheet?

In Google Sheets, making a thermometer graph involves similar methods to Excel, using a stacked column chart with formatting to resemble a thermometer visually.