how to add a line of best fit in google sheets

Looking For Funnel Chart Google Sheets? Let's Try With Add-On

Data visualization is one of the key things that makes raw data worth collecting and having. Imagine collecting a large volume of data that cannot be understood — that's a waste of time, effort, and resources. However, with Funnel Chart Google Sheets, you would get to easily visualize your data, and forecast your next step.

Business is hard — we all know that. To make tangible progress, you've got to make informed decisions. An informed decision pretty much means undergoing intense study and coming up with the best strategy that aligns with the data you get.

For that to happen, your data has to be digestible — and you can accomplish that by creating a Funnel Chart in Google Sheets.

Don't get it wrong. Funnel Chart Google Sheets are not the only data visualization strategy. You've probably heard of pie, line, or bar charts. Yes, these are great options. But if you want to visualize linear and connected processes like a sales process, then the Funnel Chart Google Sheets is probably your best bet.

Here comes the big question(s) — what is a Funnel Chart Google Sheets, and how can you create a Funnel Chart in Google Sheets? Keep reading this blog you will come to know about easy to use chart library for Google Sheets to present your data with visualizations.

Let's dive right into it.

What is a Funnel Chart?

If you've seen an inverted pyramid that's used to showcase linear, connected processes, then you've seen a Funnel Chart. A Funnel Chart is a data visualization tool that helps you gain insight and meaning into data trends.

For instance, it's somewhat challenging to get a full grasp of an entire sales process. With a Funnel Chart, you get to present the process using an inverted pyramid. This will, in turn, help you gain insight into what an entire sales process is all about.

For data to be represented using a Funnel Chart, it has to be connected, linear, and sequential. That is, an interconnected process where the first stage has to be completed in its entirety before the second stage and third stage.

Simply put, the first stage comes before the second stage, and the second stage comes before the third stage. It should be a linear, connected, sequence. Any data that falls short of this criteria is not fit to be represented using a Funnel Chart.

Here's a brief overview of what you need to know about a Funnel Chart

• First, the data stages have to be linear, connected, and sequential
• Ideally, the first stage should have the largest figure — the figure should be the number of the unit data.
• It helps pinpoint where the problem lies, especially by showing the disproportionate changes in the entire process.

The Funnel Chart Google Sheets is a good choice for folks who desire a good data visualization tool, but you can opt for other reliable options like pyramid and bar charts.

Moving on, here is why you should use a Funnel Chart.

Why you should use a Funnel Chart

A Funnel Chart shows the progression of linear, interconnected data through a series of stages. Typically, you would observe a decrease in the data value as you move through each stage. Funnel Charts are usually used to showcase the marketing and sales process, especially how the figure of potential customers gradually winnows to those who complete purchases.

Each segment in the Funnel Chart represents the number of each stage. And since the numbers in Funnel Charts decrease from top to bottom, you would most likely observe a decrease in the size of each box from top to bottom. This way, you get to have a good grasp of the declining process, moving from top to bottom.

For instance, if you sell a digital product, and you successfully drive ten thousand eyeballs to your website, but you noticed seven thousand clicks on the call to action, and five thousand actual downloads, then you've got a gradual decline — a decrease in your conversion rate. And such data can be represented using a Funnel Chart.

Tracking the process will amount to nothing if you don't use the findings to your advantage. Since you've observed a decline along the sales and marketing process, you can easily come up with reliable ways of retaining more people in each stage. This way, fewer people will drop off as you move down the Funnel Charts.

Furthermore, a Funnel Chart will help you observe the trends over time. This will, in turn, give you a clear idea of how your sales are moving over a definite period. If the drop-offs are increasing as you move down the Funnel Chart, then you've got a problem.

To curb this, you've got to pinpoint what you are doing wrong and fix it.

Uses of Funnel Charts

Regardless of your industry, there are numerous uses of Funnel Chart Google Sheets. Here are some uses that are worth considering.

1. Data Visualization

By now, you've probably figured out that Funnel Chart Google Sheets are one of the most reliable ways of visualizing data.

Reading a wall of numbers and texts is quite daunting. But such a tedious process can be eliminated using Funnel Chart Google Sheets.

With Funnel Chart Google Sheets, you get to easily pinpoint what's working and what's not.

2. It Shows Bottlenecks

Whether you are a marketer or a production manager, you've experienced a bottleneck a few times. Sometimes, identifying the root cause may be an issue — and that's where Funnel Chart Google Sheets come into play.

By merely creating a Funnel Chart in Google Sheets, you get to see the data quantity in each stage of the process. This way, you can easily identify areas of improvement, and also predict why there are drop-offs as you move down the funnel.

3. Funnel Charts Help Marketers to Track Conversion Rates

If you have a solid online presence, you can use Funnel Charts to track the conversion rate on your website.

With Funnel Chart Google Sheets, you get to see the percentage of eyeballs that click on your product, the percentage of visitors who placed your product(s) in their shopping carts, and the percentage that made the purchase — everything is displayed using Funnel Chart Google Sheets.

Data displayed using Funnel Charts Google Sheets helps you see your conversion rate, and also pinpoint ways of improving your sales and marketing process.

4. Funnel Charts Provide an Overview of Your Data

A large volume of data cannot be easily digested. It's tough work! But Funnel Charts offer a quick summary of everything. Simply put, a Funnel Chart shows the rate of participation in each stage in a process. However, the process should be linear, interconnected, and sequential — anything less than that can hardly be represented using Funnel Charts in Google Sheets.

By providing a quick overview of the data, you get to identify the drop-offs, and further investigate the reasons for such drop-offs.

5. Tracks Your Workflow

By now, you probably know that Funnel Charts are used to keep a close eye on the sales and marketing process, but it does much more than that — it can be used in the operational department to analyze workflows.

For instance, you can use Funnel Charts Google Sheets to track the order chains, ranging from the receipt to the delivery process. If your operational process involves product assembly, you can use it to track the product assembly, starting from the receipt of each product unit to the completion of the assembling process.

If you've read up to this point, you've got a good grasp of what Funnel Charts Google Sheets are, and how you can use it to track your marketing and sales process. But everything is not all juicy. Here are some common issues (or challenges) you would likely encounter while using Funnel Chart Google Sheets.

Funnel Chart Google Sheets — Common Issues and Challenges

Here are some challenges you will likely encounter while using Funnel Charts.

1. If there are more than six stages (or sections) in Funnel Charts, then reading it would be somewhat challenging
2. Funnel Chart Google Sheets may be a sequential process, but the sales or operational process isn't quite straightforward. For instance, a visitor may land on your website, put some products in the cart, navigate to other web pages to read more about the product before buying. You see, some sales processes are not interconnected and sequential as presented by the Funnel Charts Google Sheets
3. A Funnel Chart is not an ideal tool for comparing variables. For instance, you cannot use Funnel Charts Google Sheets to compare how weather conditions affect the sale of drinks
4. The Funnel Chart pinpoints where the problem exists within the sequence, but it does not show why — you would have to undergo additional research to identify the why.

How to Create a Funnel Chart in Google Sheets?

You can create a Funnel Chart in Google Sheets using ChartExpo, a visualization tool that helps you make sense of relationships, patterns, and emerging trends within your funnel. It also helps you to make insightful decisions that impact your overall performance in the marketplace.

One of the beauties of the ChartExpo tool is that it helps you produce over 80 customized visualizations. This way, complex, raw data is translated to engaging, digestible visuals.

Let's suppose you have got the following data.

Let's consider an example in which you have a data of customer related information for the interest in your product and services.

Steps	Total Intake
Awareness	100000
Discovery	69000
Evaluation	45000
Consideration	23000
Intent	11000
Purchase	6000
Loyalty	2000

Navigate to the Document add-ons section and click on ChartExpo.

Next, navigate to the right corner of your screen and hit the Create Chart icon.

From the list of data visualization tools displayed on your screen, choose the Funnel Chart from general analysis charts.

Expand the list of "General Analysis Chart" or you can search this chart in the search box.

On the next screen that appears, select the sheet name where your data is present, select dimensions and other metrics of your Funnel Chart, then click on the Create Chart option.

Finally, the chart will be displayed on your screen.

You can also edit you chart to make it more beautiful or easy to understand, let's say you want to give a name to your chart, click on the Edit Chart.

After that click on the Chart header and give a proper name to your chart and click on the apply.

And you will have the final chart on your screen.

Also if you want to change the color of your funnel, from the edit chart option select the funnel and choose another color you want to change for your chart.

When you changed your color you have the new chart on your screen.

You can directly install ChartExpo Add-on for Google Sheets, once it is installed you will find multiple categories of charts to show your data in an awesome ways to present in the form of reports or in presentations.

FAQs:

What are the alternatives to Funnel Charts?

Common alternatives to the funnel charts include pyramid and stacked bar charts. The pyramid chart is a direct opposite to the funnel chart — it's a funnel chart that is turned upside down.

Stacked bar charts are entirely different. The bars in a stacked bar chart are aligned to the bottom or left axis. You see, it's quite different from the funnel chart where the bars are aligned to the center.

What is a Funnel Chart used for?

Funnel Charts are typically used to show the linear process(es) in sequential and connected steps. Oftentimes, the number of each item or unit decreases as you move through the sequence.

For instance, if you run Facebook ads or Google Ads for your digital product, you would reach a percentage of eyeballs. Of that number, a smaller percent will click on your ad, and a smaller percentage will read through your ad copy on your website.

That's not all…

You would notice a much smaller percentage of the original number would hit the call to action button. Finally, the number of people who would complete the payment detail and make the purchase will be smallest compared to others in the process.

How do I create a Funnel Chart in Google Sheets?

By using data visualization tools like ChartExpo, you get to create a Funnel Chart in Google Sheets. The process is pretty easy, and you can get everything done in minutes.

The best part…

You don't need any advanced technical skills. If you can use a computer mouse and can click on a couple of buttons on your computer screen, then you can create a Funnel Chart in Google Sheets.

Wrap Up

Your customer's journey can easily be represented using data. This way, you get a good grasp of everything that happens from the customer acquisition stage to when the customer buys your product.

ChartExpo provides funnel chart Google Sheets that lets you understand everything that happens behind the scene. With the information obtained from the Funnel Charts, you would be better equipped for making better business decisions.

Now you understand how to create a Funnel Chart in Google Sheets, what business process would you be studying using Funnel Charts Google Sheets?

how to add a line of best fit in google sheets

Source: https://ppcexpo.com/blog/funnel-chart-google-sheets

Posted by: davisanney1978.blogspot.com

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