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There’s good news for all data mavens and Excel lovers, as they would be able to visualize and analyze the data more deeply in different styles of charts in the new Office 2016. Microsoft, yesterday revealed the 3 new statistical chart types that have been added to Office 2016 namely Histogram, Pareto and Box and Whisker. Each of these have been incorporated in Excel to uniquely present the statistical data to the user.
Histogram, as the name suggests, shows the distribution of data and groups them into ‘bins’, which are groupings of data points within a given range.
Pareto is named after Vilardo Pareto, most famous for his Pareto Principal popularly known as the 80-20 rule. Pareto is useful to find out most significant factors in your data and how they contribute to the entire set. Combination of columns with a line graph, which shows the cumulative contribution of each column as you move from left to right is the unique feature of Pareto.
Box and Whisker characterizes the distribution of data by quickly and easily highlighting important characteristics related to the distribution of your data with extra visual elements. This chart helps to compare characteristics between different sets of data.