How to Use a Time Series Chart in Excel for Analysis?

You have data you’ve been tracking over time. And you’re tasked to explain its trend and also provide a forecast.

What’s the chart to go for?

Yes, you guessed right. It’s the Time Series Chart. The chart is suitable in this scenario because time and dates are continuous, categorical data.

If you want to craft a compelling data story that provides actionable insights into trends, outliers, and other shifts, use Time Series charts. And this is because they’re straightforward to read and understand.

Remember, simplicity is always at the core of every persuasive narrative.

There’s no doubt that people don’t like to be subjected to cognitive overload. So, the simpler the message, the more compelling it becomes.

Excel lacks ready-to-use Time series 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 a ready-to-use and visually appealing Time Series Graph.

In this blog, you’ll learn the following:

Table of Content:

1. What is a Time Series Chart?
2. Types of Time Series Chart in Excel
3. How to Create a Time Series Chart in Excel?
4. Components of a Time Series Chart in Excel
5. Why Should You Use the Time Series Chart?
6. Wrap Up

Before delving into the how-to guide, we’ll address the following question: what is a Time Series Chart?

What is a Time Series Chart?

Definition: A Time Series Chart (also called a Time Series Graph) is a visualization design that illustrates data points at successive intervals of time.

Each point in a Time Series Chart in Excel corresponds to a time and variable under study. The horizontal axis of the chart or graph plots time increments while the vertical displays the key data point understudy.

Types of Time Series Chart in Excel

There’re 4 types of Time Series Chart in Excel, namely:

1. Dual Axis Line Chart
2. Multi-Axis Line Chart
3. Sentiment Trend Chart
4. Area Line Chart

Let’s discuss these charts in detail.

1. Dual Axis Line Chart

A Dual Axis Line Graph is one of the best Time Series Graph example for comparing two data sets for a presentation.

The visualization design uses two axes to easily illustrate the relationships between two variables with different magnitudes and scales of measurement.

The relationship between two variables is referred to as correlation. The Dual Axis Line Chart illustrates plenty of information using limited space, so you can discover trends you may have otherwise missed.

2. Multi-Axis Line Chart

Plotting multiple metrics in one graph is possible if you use a Multi-Axis Line Chart.

This chart visualizes trends and relationships in various datasets. And it’s made up of various data points connected using line segments, where each point represents a single value. Use this chart to visualize continuous data like prices over time.

3. Sentiment Trend Chart

A Sentiment Trend Chart is one of the Time Series Chart in Excel you can use to display the target market’s opinion of your offerings.

The chart is a must-have, especially if your goal is to show the growth and decline of key variables. The line curve in the chart shows the overall pattern and trend of a key variable over a specified period.

4. Area Line Chart

An Area Line Chart is a visualization design that uses a line graph and a filled area to display patterns and trend insights into key data points in a specified period.

The visualization design is ideal if your goal is to display trends. Besides, it’s one of the best charts for tracking performance in a specified period.

The visualization design is amazingly easy to read and interpret. Furthermore, its minimalist design ensures no insight is obscured.

In the coming section, we’ll take you through how to create a Time Series Chart in Excel?

You don’t want to miss this.

How to Create a Time Series Chart in Excel for Better Analysis?

Excel is a trusted data visualization tool because it’s familiar and has been there for decades.

But the spreadsheet application lacks ready-made Time Series Charts, such as Dual Axis Line Graph.

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 app to access a ready-made Time Series Chart in Excel. The tool is called ChartExpo.

So, what is ChartExpo?

ChartExpo is an incredibly intuitive add-in for Excel which you can easily install in your Excel without watching hours of YouTube tutorials.

With many ready-to-go visualizations, the Time Series Chart Excel generator turns your complex, raw data into compelling, easy-to-digest, visual renderings that tell the performance review stories in real-time.

• ChartExpo is cloud-hosted, which makes it extremely light. You have a 100% guarantee that your Excel won’t be slowed down.
• You can export your insightful, easy-to-read, and intuitive charts in JPEG, PDF, SVG, and PNG formats.
• ChartExpo add-in is only $10 a month after the end of the trial period.
• The app has an in-built library with a lot of easy-to-customize and ready-made charts in excel for your data stories.
• ChartExpo also let you edit and customize the charts in excel.

In the coming section, we’ll take you through how to use ChartExpo in your Excel?

You don’t want to miss this!

Example

This section will use the Area Line Graph (one of the Time Series Chart variants) to display insights into the table below.

Months	Current	Previous
Jan	90	70
Feb	60	80
Mar	40	30
Apr	70	60
May	80	90
Jun	75	60
Jul	40	30
Aug	60	70
Sep	90	80
Oct	50	70
Nov	70	60
Dec	50	40

• To install ChartExpo into your Excel, click this link.
• Open the worksheet and click the Insert button to access the My Apps.

• Select ChartExpo add-in and click the Insert.

• Look for “Area Line Chart” in the list of charts.

• Select the sheet holding your data and click the Create Chart From Selection button, as shown below.

• To make changes to the Area Line Chart, click the Edit Chart.

• Once the Chart Header Properties window pops up, click the Line 1 box and fill in your title.
• Toggle the small button on the bottom right of the Line 2 box to the right side.

• Click the Apply button to save the changes.
• Click the Save Changes button to finish the editing task.
• Check out the final Time Series Chart in Excel below.

In the coming section, we’ll address the components of a Time Series Chart in Excel.

Components of a Time Series Chart in Excel

1. Trend component

Analyzing trends is critical in predicting future movements.

The trend shows an increase or decrease of a key variable over a certain period. Not all increases or decreases occur simultaneously.

2. Seasonal Component

This is the variation in a particular variable due to some predetermined patterns over time.

You can use Time Series Chart in Excel to display insights into the commodity price quotes, interest rates, exchange rates, stock prices, and so on.

In the coming section, we’ll address the following question: why should you use the Time Series Chart?

Why Should You Use the Time Series Chart?

Use Time Series Chart in Excel to display changes in metrics (plotted on the vertical axis) and continuous values, such as time (plotted on the horizontal).

To get the insights, check for line segments moving consistently from left to right and evaluate their respective slopes (rate of change).

On the horizontal axis, use a variable that depicts continuous attributes at regular intervals of measurement. And this variable should be a temporal one, generating an observation every minute, hour, day, week, or month.

Use a variable in each of the intervals defined by the horizontal-axis variable on the vertical axis. Often, this can be a statistical summary, such as:

• Count
• Average

FAQs:

What chart is best for displaying time series?

There’re 4 key charts you can use to display time series insights. And they include:

1. Area Line Chart
2. Dual Axis Line Chart
3. Multi-Axis Line Chart
4. Sentiment Trend Chart

The charts mentioned above are incredibly easy to read and interpret. Besides, they’re easy to plot if you use third-party add-ins, such as ChartExpo.

When should you use a Time Series Chart?

Use Time Series Chart in Excel to display changes in key variables (plotted on the vertical axis) and continuous data points, such as months (plotted on the horizontal).

To get the insights, check for line segments moving consistently from left to right and evaluate their respective slopes (rate of change).

Wrap Up

You have data you’ve been tracking over time.

And you’re tasked to explain its trend and, most importantly, provide a forecast.

What’s the go-to chart?

Yes, you guessed right. It’s the Time Series Chart. The chart is suitable in this scenario because time and dates are continuous, categorical data.

If you want to craft a compelling data story that provides actionable insights into trends, outliers, and other shifts, use Time Series charts. And this is because they’re straightforward to read and understand. Remember, simplicity is always at the core of every persuasive narrative.

There’s no doubt that a majority of us don’t like to be subjected to cognitive overload. So, the simpler the message, the more compelling it becomes.

Excel lacks ready-to-use Time Series Charts.

So, what’s the solution?

We recommend you install third-party apps, such as ChartExpo, to access the ready-to-use Time Series Chart in Excel.

ChartExpo is an add-in for Excel that’s loaded with insightful and ready-to-go Time Series Graphs, such as Area Line Chart. You don’t need programming or coding skills to use ChartExpo.

Sign up for a 7-day free trial today to access ready-made Time Series Charts that are easy to interpret and visually appealing to your target audience.