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Home > Blog > Data Visualization > Add-ons > Microsoft Excel >

How to Create Trend Analysis Examples in Excel?

John, a CEO, knows that he must monitor the company’s finances to keep tabs on its performance. Also, he is conscious of the fact that extraneous elements can have an impact on its performance.

trend analysis examples

He decides to use trend analysis in his quest to track the business’s performance.

John gathers data from recent years to perform a trend analysis.

He discovers that while profits have grown, so have the expenses. This could indicate that too much is spent on certain items with insufficient investments in other areas.

With this information, John can decide better where to invest the company’s funds. Consequently, determine how to control costs to improve the company’s performance.

Trend Analysis is effective for tracking performances.

It is helpful with the following;

  • Identifying patterns.
  • Evaluating progress.
  • Predicting future outcomes.

Let’s dive into some trend analysis examples and see how you can use them.

Table of Contents:

  1. What is Trend Analysis?
  2. What is the Use of  Trend Analysis?
  3. Types of Trend Analysis
  4. Importance of Trend Analysis
  5. Best Charts for Trend Analysis
  6. How to Do Trend Analysis in Excel?
  7. Wrap Up

What is Trend Analysis?

Assume you want to evaluate the current position of your business and make predictions.

What do you resort to?

You analyze data from the recent past, right?

Now that’s what we refer to as trend analysis.

Trend analysis involves analyzing data to spot patterns and foresee future developments. You analyze metrics like revenue, costs, customer feedback, market and industry movements, etc.

It applies across various industries, including commerce, finance, economics, and advertising. It exposes hidden patterns in the data. This is useful for spotting potential growth or trouble spots.

What is the Use of Trend Analysis?

Trend analysis identifies opportunities and weaknesses in a business. This helps with decision-making based on past trends and current market conditions.

Trend analysis is also useful in foretelling future developments. This helps with long-term strategy and decision-making.

Furthermore, trend analysis is useful in finding new expansion avenues. You identify where you can take advantage of developing opportunities and trends.

Types of Trend Analysis

  • Short-Term Trend Analysis

Short-term trend analysis examines patterns over relatively brief time frames. A few days to a few weeks is the typical time frame for this analysis.

It aids in identifying the following:

    • Stock market buying and selling opportunities.
    • Current market conditions.
    • Potential macroeconomic environment changes.
  • Intermediate-Term Trend Analysis

Intermediate-term trend analysis is a potent tool for traders, investors, and analysts. It pinpoints and analyzes trends over weeks and months. This facilitates decision-making regarding market direction and profit-making potential.

As a result, market participants like traders, investors, and analysts can increase their chances of success.

  • Long-Term Trend Analysis

Long-term trend analysis is the most exhaustive type. It examines data over extended periods and from various perspectives.

Long-term trend analysis helps investors identify market entry and exit points. Consequently, gain insight into the market’s overall direction.

This analysis can help you find stocks with a track record of long-term market out-performance.

Importance of Trend Analysis

  • You can spot growth and improvement opportunities through trend analysis. Furthermore, you can monitor consumer habits and market tendencies. Consequently, pinpoint areas where you can implement changes to boost your bottom line.
  • Budgeting and resource allocation decision-making benefit from trend analysis. You can spot trends in the market and determine how to allocate resources to maximize profits. This aids in keeping your finances in order and maximizing your profits.
  • You can assess the success of your marketing campaigns using trend analysis. You can identify the successful ones and those necessitating adjustments. This boosts the efficacy of your marketing efforts and, ultimately, your return on investment.
  • You can anticipate the market’s future trends with trend analysis. From this, you can make the appropriate preparations. Consequently, maintains a competitive edge in the market.

Best Ways to Illustrate Trend Analysis with Examples

Here are some trend analysis examples to illustrate the best charts and graphs for your analysis.

1. Run Chart

Also known as Line Chart, a Run Chart tracks the progress of a process over time. Regardless of whether the process is improving or declining. The chart makes it easy to identify patterns and trends in data.

Run charts are also useful because they show you the relationship between different process variables. By examining the individual data points, you can see how alterations to the process have affected the trend. This can help you zero in on areas in need of improvement.

You can also track team or department performance with a Run Chart. You can compare their performance this way and see how they measure against each other.

Example

Here is data on weekly mobile charger rejections. We can use a Run Chart to analyze the trends of these rejections.

Weeks Quantity
Week-1 121
Week-2 131
Week-3 132
Week-4 125
Week-5 141
Week-6 126
Week-7 126
Week-8 130
Week-9 143
Week-10 146
Week-11 148
Week-12 151
Week-13 152
Week-14 156
Week-15 157
Week-16 155
Week-17 157
Week-18 143
Week-19 131
Week-20 127

This Run Chart shows the rejection trend’s mean value.

Run Chart in trend analysis examples

2. Double Axis Line Graph and Bar Chart

Trend analysis works well with the Double Axis Line Graph and Bar Chart. It provides comprehensive data analysis and facilitates the identification of correlations between various data sets.

Additionally, it aids in identifying any sudden changes, enabling you to take prompt corrective actions.

You can also use it for decision-making and performance enhancement.

Example

Here is an example of monthly revenue data.

Months Revenue Profit Margin
Jan 7000 6
Feb 2000 8
Mar 4000 9
Apr 3100 15
May 1800 16
Jun 1900 18
Jul 3000 8
Aug 2000 10
Sep 4000 5
Oct 3000 24
Nov 1600 18
Dec 1200 10

This is the Double Axis Line Graph and Bar Chart visualization of the revenue data.

Double Axis Line Chart in trend analysis examples

3. Multi-Axis Line Chart

Trend analysis is best performed using a Multi-Axis Line Chart. You can plot multiple lines on the same graph. This facilitates the examination of data sets for similarities and differences over time.

Using the Multi-Axis Line Chart, you can compare various timeframes. This aids in your comprehension of the data’s timely variation. Contrasting various timeframes makes it easy to identify trends and patterns.

Example

Below is the yearly sales data of a certain store. We can use a Multi-Axis Line Chart to perform trend analysis and determine the yearly sales performance.

Months Orders Sales Profits
Jan 756 18766 18
Feb 485 18788 29
Mar 412 18743 24
Apr 607 18788 22
May 915 16406 19
Jun 413 17765 22
Jul 828 20532 26
Aug 611 20016 19
Sep 683 20122 18
Oct 886 20125 25
Nov 397 23783 21
Dec 408 22942 21

Below is the Multi-Axis Line Chart of the data.

Multi-Axis Line Chart in trend analysis examples

4. Sentiment Trend Graph

The Sentiment Trend Graph allows you to identify the direction of any trend. It is especially useful in analyzing customer sentiment. Thus, helpful in understanding the customer experience and how it changes over time.

You can spot areas where customers are satisfied or dissatisfied by tracking customer sentiment scores.

This can be especially valuable for understanding how customer experience has changed in the following situations;

  • During product or service launch.
  • In response to customer service initiatives.

Example

Assume this is your business’s current and previous year sales orders.

Months Current Year Previous Year
Jan 8000 7000
Feb 10000 12000
Mar 14000 10000
Apr 5000 8000
May 15000 12000
Jun 16000 15000
Jul 8000 10000
Aug 8000 5000
Sep 18000 15000
Oct 6000 8000
Nov 12000 10000
Dec 15000 8000

You can analyze the sales order trends with a Sentiment Trend Graph, as shown below.

Sentiment Trend Chart in trend analysis examples

How to Do Trend Analysis in Excel?

Look no further than ChartExpo for simple trend analysis in Excel.

Why ChartExpo?

You can create insightful trend analysis charts in a few clicks with ChartExpo.

In addition, ChartExpo provides numerous customization capabilities. You have control over the chart’s aesthetics by modifying its color scheme, fonts, and labeling.

How to Install ChartExpo in Excel?

  1. Open your Excel application.
  2. Open the worksheet and click on the “Insert” menu.
  3. You’ll see the “My Apps”.
  4. In office Add-ins window, click on “Store” and search for ChartExpo on my Apps Store.
  5. Click on “Add” button to install ChartExpo in your Excel.

ChartExpo charts and graphs are available both in Google Sheets and Microsoft Excel. Please use the following CTA’s to install the tool of your choice and create beautiful visualizations in a few clicks in your favorite tool.

Example

Let’s use the Sentiment Trend graph to learn how to analyze the trend in Excel.

  • To get started with ChartExpo, install ChartExpo in Excel.
  • Now Click on My Apps from the INSERT menu.
insert chartexpo in excel
  • Choose ChartExpo from My Apps, then click Insert.
open chartexpo in excel
  • Once ChartExpo is loaded. Click on “Sentiment Trend Chart” from the list of charts.
search sentiment trend chart in excel
  • Click the “Create Chart From Selection” button after selecting the data from the sheet, as shown.
create sentiment trend chart in excel
  • The Final will look as follows.
edit sentiment trend chart in excel
  • Click the “Edit Chart” button to modify your chart as shown above.
  • Let’s change the negative figure of the previous year to absolute. Click the pencil icon and switch on the “absolute” feature. Click the “Apply All” button to activate the change.
set sentiment trend chart in excel
  • Here is the chart with absolute values for the previous year.
change sentiment trend chart in excel
  • To change the previous year’s color, click the relevant pencil icon. Pick the preferred color and click the “Apply All” button.
update win-loss analysis in excel
  • To change the title of the chart, click on the pencil icon that is available next to Chart Header.
  • It will open the properties dialog. Under the Text section, you can add a heading in Line 1 enable the Show Give the appropriate title of your chart, and click on the Apply button.
settings win-loss analysis in excel
  • If you’d like to display the trend line on this chart, click the pencil icon on the bar. In the “Trend Line” section, activate the Show button. Then click the ‘Apply All’ button.
  • For saving changes click on Save Changes. This will persist the changes.
save win-loss analysis in excel
  • You will get the following visualization after saving edits.
  • To add a dotted line, select ‘Settings’ and enable the Show option in the ‘Line’ section. Then click the ‘Apply’ button.
what is trend analysis examples in excel
  • The final chart will look as below.
trend analysis types in excel

Insights

  • Looking at January, the value was 8k during the current year compared to 7k the previous year.
  • When December came around, the current year’s value was 15k compared to the previous year’s 8k.
  • April was the least order-generating month of the current year. However, the trend for the whole year has been increasing.

FAQs

What is trend analysis? 

Trend analysis involves reviewing data over time to find patterns, trends, and relationships between variables. Examining historical data aids in predicting upcoming events or trends. You can apply trend analysis to almost any type of data.

What are the 3 types of trend analysis?

These are the three types of trend analysis;

  • Short-term trend analysis analyzes data in short periods. Such as days and weeks
  • Medium-term trend analysis for medium periods such as months.
  • Long-term trend analysis for long periods of years.

What does a trend analysis show us?

Trend analysis shows patterns in data over time. It helps organizations to understand changes in the following topics better;

  • Market conditions.
  • Consumer demand.
  • Production costs.
  • Other factors that can affect the success of their operations.

Wrap Up

Trend analysis can be useful if you’re interested in staying abreast of business developments.

Using trend analysis can help you with the following;

  • Discovering trends.
  • Identifying opportunities.
  • Monitoring the current market situation.

It helps to have an arsenal of trend analysis examples at your disposal.

This blog post has provided you with trend analysis examples. You can use them to guide you in your analyses.

If you’re getting started, you might find analyzing trends a steep learning curve.

How do you go about it?

Trend analysis has various approaches. This article has illustrated the best charts to use in your trend analysis.

ChartExpo for Excel is the ideal tool for creating these trend analysis charts.

When using ChartExpo, you have complete control over the look and feel of your charts.

How much did you enjoy this article?

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