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Displaying real-time data in the dashboard is not a walk in the park.
It would be ideal if you had a visualization chart that’s easy to interpret.
Why?
Tracking real-time and continuous data with inappropriate graphs may distort the key findings or mislead the intended audience.
This is where a Speedometer Chart (also known as Gauge Chart) comes in.
A Speedometer Chart is arguable among the easiest-to-read visualization designs you can leverage to persuade your audience. The uniqueness of this chart lies in its minimalist design and appearance. You can easily get insights without subjecting your brain to cognitive overload.
Excel lacks ready-to-use Speedometer Charts.
You actually don’t have to do away with the Excel spreadsheet. Supercharge its usability by installing a particular third-party application into your spreadsheet to access ready-to-use and visually appealing Speedometer Charts.
In this blog, you’ll learn the following:
Before jumping right into the how-to guide, we’ll address the following question: what is a Speedometer Chart?
A Speedometer Chart in Excel (also known as a Gauge or a Dial Graph) is a visualization design you can use to display progressive data points.
The advantage of this visualization design lies in the fact that it’s easy to interpret. More so, it uses various colors to divide a scale into segments representing different values of the same metric.
In most cases, these colors usually show the maximum, the medium, and the minimum value of the data displayed based on its performance. In other words, it employs the use of three colors, namely:
The chart indicates the reading on a dial with the help of a needle. And this makes it incredibly valuable in comparing smaller data points.
This chart has ranges that communicate insights instantly. So, you don’t have to struggle to see the bigger picture.
The tested and proven way of visualizing your data effectively using a Speedometer Chart in Excel using colors strategically. And this includes red-poor performance, yellow-average performance, and green-target or top performance.
Well, don’t get us wrong.
The fact above is based on what’s working. We’ve discovered that the aforementioned colors get an overwhelming response.
These colors are somewhat embedded into our brains as a reference for a particular phenomenon. For instance, red mostly stands for danger or hazard. And green is most associated with optimum performance.
The first step is to define the metrics to visualize using the Speedometer Chart in Excel. The aforementioned will help provide the context for your data narrative.
Visual information is more appealing to our brains than words and numbers only.
In fact, studies show we can process visual content 60,000 times faster than numbers and words. High contrast colors are ideal because they bring out comparison insights.
Ideally, a gauge chart consists of three major parts, namely:
This is the most important part of any gauge chart as it represents the range of information (mostly in a numeric form). Apart from the data range, it also defines different intervals and colors.
A needle basically points to a certain value on the scale. Ideally, the tip of the needle can change its location over time.
A pivot point is the center of the needle where the value of its present placement is displayed for us to see.
Take a look at the table below.
| Activity | Actual | Target |
| Actual Sales | 7000 | 10,000 |
Note the difference after visualizing. You can easily extract high-level insights with just a glance at the chart.
In the coming section, we’ll address the following question: why should you use a Speedometer Chart in Excel?
The fact that this chart type is mostly used to display one metric at a time, makes it a straightforward visualization.
With the right tool, you can easily create a professional chart with just a few clicks. We will go a bit deeper into this point further in the post.
One of the aspects that makes Gauge Chart popular is that the majority of people are usually familiar with it. Thanks to its resemblance to a car speedometer or a temperature indicator.
The chart has an amazing user-friendly interface, which makes it quite easy to interpret.
The sequence of colors, usually from green to red, makes them intuitive and easy to understand.
If you have a linear metric and want to display how it changes, a Speedometer Chart in Excel is the way to go.
Yes, you read that right.
You can monitor your metrics based on a time period to understand how the values changed. Also, you can compare the performance against varying periods to gauge improvements.
Use a Gauge Chart to set target metrics. And this will help you understand the performance of a specific KPI based on a target you pre-defined.
For example, the chart can easily display the percentage of the goal achieved until a specific time.
A Speedometer Chart in Excel is critical in tracking project progress or deadlines in a business. Use the visualization design to keep track of the tasks and deadlines involved in a project.
Another significant use of this visualization is comparing two varying datasets.
The aforementioned can be achieved using a single dashboard with multiple Speedometer Charts. For example, you can compare the revenues of one month with the total revenues based on a yearly target.
In the coming section, we’ll discuss the pros and cons of the Speedometer (Gauge) Chart in Excel.
Also, you can deploy the chart in project management to display short-term traction. If you work in the finance and economics sector, you can also use the chart for your data stories.
The charts share a great resemblance to a car speedometer. And this makes them ideal for displaying performance metrics. You can easily monitor your metrics to understand their changes over time.
Check where the needle is pointing to gain meaningful insights.
For instance, you can use Gauge Charts to understand the performance of a specific KPI based on a target you’ve pre-defined.
However, the visualization design has a couple of downsides. Check them out.
Speedometer Charts consume a lot of space. And this is because you have to plot a chart for every key variable.
In the coming section, we’ll cover how to create a Speedometer (Gauge) Chart in Excel.
Excel is a trusted data visualization tool because it’s familiar and has been there for decades.
But the spreadsheet application lacks ready-made Speedometer (Gauge) Charts.
We understand switching tools is not an easy task.
This is why we’re not advocating you ditch Excel in favor of other expensive data visualization tools.
There’s an easy-to-use and amazingly affordable visualization tool that comes as an add-in you can easily install in your Excel ready-made visual analytic charts. The tool is called ChartExpo.
So, what is ChartExpo?
ChartExpo is an incredibly intuitive add-in you can easily install in your Excel without watching hours of YouTube tutorials.
With many ready-to-go visualizations, the Speedometer Chart Maker turns your complex, raw data into compelling, easy-to-digest, visual renderings that tell stories in real-time.
In the coming section, we’ll take you through how to install ChartExpo into your Excel.
You don’t want to miss this!
This section will use the Speedometer Chart to display insights into the table below.
| Activity | Actual | Target |
| Actual Sales | 7000 | 10,000 |
To install ChartExpo into your Excel, click the following link.
A Speedometer Chart is a visualization design you can use to display progressive data points.
The advantage of this visualization design lies in the fact that it’s easy to interpret. It uses various colors to divide a scale into segments representing different values of the same metric.
One of the aspects that makes Gauge Charts popular is that people are usually familiar with them. Thanks to their resemblance to a car speedometer or a temperature indicator, they are more familiar than other visualization designs.
Besides, the chart is popular due to its ease of interpreting.
The chart employs the use of three colors, namely:
More so, it indicates the reading on a dial with the help of a needle. And this makes it incredibly valuable in displaying smaller data points.
Showcasing real-time data in a dashboard is not a walk in the park.
It would be ideal if you had a visualization chart that’s easy to read and interpret.
Why?
Tracking real-time and continuous data with inappropriate graphs may distort the key findings or mislead the intended audience.
This is where a Speedometer (Gauge Chart) comes in.
A Speedometer Chart is arguable among the easiest-to-read visualization designs you can leverage to persuade your audience. The uniqueness of this chart lies in its minimalist design and appearance. You can easily get insights without subjecting your brain to cognitive overload.
Excel lacks ready-to-use Speedometer Charts.
So, what’s the solution?
We recommend you install third-party apps, such as ChartExpo, to access a ready-to-use Speedometer Chart in Excel.
ChartExpo is an add-in for Excel that’s loaded with insightful and ready-to-go Speedometer (Gauge) Graphs. You don’t need programming or coding skills to use ChartExpo.
Sign up for a 7-day free trial today to access ready-made Speedometer Charts that are easy to interpret and visually appealing to your target audience.
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