Evaluating the differences and similarities in your data is one of the most straightforward analyses you can ever conduct.
You only need to compare data points side-by-side.
It gets better.
One of the comparative analysis example strategies we recommend is using charts and graphs.
Our brains process visual data 60,000 times faster than texts and figures. And this creates a concrete argument for using comparison-oriented charts and graphs, such as Matrix and Radar Graphs.
These charts are amazingly easy to read and interpret.
Excel is one of the freemium tools you can use to visualize your data for insights. But it lacks ready-to-go graphs for conducting a comparative analysis, such as Radar Chart.
You don’t have to dump Excel for other expensive data visualization tools.
You can supercharge your Excel by installing a particular add-in to access ready-made graphs for comparative analysis.
You don’t want to miss this.
In this blog, you’ll learn:
Before jumping right into the how-to guide, we’ll address the following question: what is comparative analysis?
Definition: Comparison analysis is a methodology that entails comparing data variables to one another for similarities and differences.
Conducting a comparative analysis can help you understand the problem in-depth and form strategies. More so, you can efficiently conduct this analysis to investigate data points with noticeable differences and commonalities.
Car factories can leverage this analysis to examine two production processes to determine cost-effectiveness.
In the education section, policymakers can use comparative analysis to compare the efficacy of different curriculums.
Other practical uses of comparative analysis include:
Comparative analysis is critical to your data storytelling. In other words, you can use this methodology to create compelling narratives for your audience. Let’s check out the benefits of the analysis.
Comparative analysis is important to better understand the problem and answer related questions. The main goals companies try to achieve by comparing records, documents or processes are:
You can quickly evaluate the competition for more insights by conducting a comparative analysis.
It’s very important for you to know what’s working well and what is not working well for you if your goal is to maximize returns and cut costs in the long term. So, flexibility and quickness in adopting changes are vital. The longer you take, the less valuable these improvements become. Besides, you risk losing your market to the competition.
Comparative analysis helps you save time and valuable resources by providing a versatile way of comparing data using easy-to-read charts and graphs.
Comparative analysis helps you explore valuable opportunities in your data that are constantly appearing.
Data analysts in weather stations use comparison-based charts, such as Line Charts and Bar Charts, to compare weather patterns across different periods.
Federal and central banks worldwide use comparison charts to closely follow the global economy’s performance. Growth is depicted by two consecutive peaks of the line curve.
On the other hand, two consecutive trough quarters in a year are a sign recession is on the corner.
For you to conduct a comparative analysis, you need different types of comparison charts and graphs. Yes, because we interpret visual data faster than text and figures.
We’ve put together a list of comparison-based charts and graphs you’ve to try.
A Comparison Bar Chart is one of the best charts you can use to draw comparative analysis examples.
Remember, drawing comparisons is something that humans do naturally. So, by conducting comparative analysis using charts, you gain far more insights than relying on intuition or mere observation. This chart is the go-to if your goal is to compare two or more data sets or items within the same data set.
The key objective of this comparative chart is to help you visually depict data side by side, allowing you to see how data points stack up against one another.
Matrix Chart is a Comparison Chart example you can use to display relationships in your dataset, irrespective of the complexity. The chart has a grid-like format to display insights into relationships between two or more variables.
The Matrix Chart is effective at displaying many-to-many relationships in data. In other words, you can draw comparisons insights into multiple groups or specific components in your data.
A Multi Axis Line Graph function uses two y-axes. And this gives you more flexibility to use one chart to display more insights using limited space.
It gets better.
You can easily visualize data with varying metrics because the chart has two different scales.
Comparative analysis is a form of analysis that entails comparing a data point against others. One of the standard tools for conducting comparative analysis uses charts, graphs, and maps in Excel.
But, the spreadsheet application lacks ready-made Comparative Charts.
We’re not advising you to do away with Excel in favor of other expensive tools.
And this is because there’s an amazingly affordable visualization tool that comes as an add-in you can easily install in Excel to access insightful and easy-to-customize Comparison-based charts. The application is called ChartExpo.
What is ChartExpo?
ChartExpo is an add-in you can easily install in your Excel to access ready-made and visually appealing Comparative Charts in Excel, such as Multi Axis Line and Radar Charts.
In the coming section, we’ll take you through how to visualize data using Multi Axis Chart using ChartExpo add-in.
You don’t want to miss this!
This section will use a Multi Axis Line Graph (one of the Comparative Analysis Charts) to display insights into the table below.
| Month | Laptop | TV | Mobile | Tablet |
| Jan | 45 | 60 | 40 | 35 |
| Feb | 60 | 80 | 30 | 70 |
| Mar | 55 | 65 | 50 | 55 |
| Apr | 35 | 70 | 55 | 80 |
| May | 55 | 55 | 70 | 55 |
| Jun | 75 | 85 | 20 | 90 |
| Jul | 60 | 50 | 55 | 70 |
| Aug | 40 | 30 | 80 | 35 |
| Sep | 50 | 55 | 60 | 40 |
| Oct | 80 | 75 | 20 | 60 |
| Nov | 30 | 50 | 65 | 55 |
| Dec | 25 | 30 | 35 | 50 |
To get started with ChartExpo in Excel, follow the steps below:
Charts with a secondary axis can help you emphasize the key data points within categories. More so, you can make comparisons between categories using a highly contrasting color scheme.
If you want to use limited space in your data visualization dashboard, your go-to visualization design should be a Multi Axis Line Chart.
A Combined Axis Graph merges two or more measures into a single axis. And this means you can display insights into multiple variables using the same chart.
The Dual Axis Chart (one of the comparative analysis charts) comes with two y-axes and a single x-axis.
Investigating the differences and similarities in your data is one of the most straightforward analyses you can ever conduct. You only need to compare data points side-by-side.
One of the comparative analysis strategies we recommend is using charts and graphs.
Remember, our brains process visual data faster than texts and figures. And this creates a concrete argument for using comparison-oriented charts and graphs, such as Matrix and Radar Graphs.
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