A line graph is a representation of time-dependent variables. All manner of data that can be charted by time can be represented on a line graph. This makes them a versatile asset for businesses, teachers, consumers, and more. The fact is, a line graph is the preferred method of representing trends with variables over a set span of time.
People are highly familiar with this incredibly simple charting option. These are taught in elementary school and used as an integral part of learning in every academic space that comes after it. Line graphs offer excellent data visualizations, and they display information in an easy-to-understand format. Oftentimes a line graph will plot data along the X and Y axes with one representing time and the other the magnitude of some variable of interest. For many consuming data products, this easy-to-access chart option presents information in perhaps the simplest format, and this may be why so many businesses and consumer applications utilize the line chart as a preferred method of conveying essential information and data to end-users.
Continue reading to learn more about some of the most visible applications of line graphs as well as some others that may be a bit more obscure in the modern world.
Line charts are essential for plotting stock market data.
Investors are one type of user of this charting method. They rely on the use of line charts to graph essential price movements throughout the day. Where they are using these fundamental data products with a traditional line charting option or with the more analytical candlestick method, the effect remains the same. Today, many investors use a blended approach to line graphing, where they add in additional data products and analytical information that augments their understanding of the basic price function of any stock that may be of interest.
This is an obvious application of the line chart because stocks are valued based on constant movement within the span of given time periods. On a day-to-day level, this method of data visualization is essential for helping investors see where the price is moving on a minute-by-minute or even second-by-second basis This is crucial for engaging with the market at target price levels throughout the day, and it’s an integrated approach that day traders use in every interaction with the market. Data management is critical in the stock market, and utilizing a number of overlapping line graph models in one native environment is commonplace. As well, many stock market analysts incorporate AI and machine learning tools to augment their trading strategies and gain the best possible returns for themselves and for their clients in the institutional trading space,
Digital solutions require constant monitoring of uptime and utility.
Today, many brands rely on cloud-based technologies to facilitate ongoing trading and competitiveness in the marketplace. Cloud technology is a fascinating entrant into the world of business, and it has been used for many years successfully. One thing that cloud technology can offer to businesses of all types and sizes is enhanced uptime performance throughout the brand’s approach to the market. Uptime is fundamentally a metric of time mixed with a utility value that any particular tool utilized by the brand offers. As a result, line graphs are a common feature in any data science wing of big businesses and small businesses alike.
These are just some of the applications of a line graph in the world of business. The truth is that line graphs are a versatile tool for understanding all types of business needs, investment solution, and much more in the world we live in.