Histograms Can Help Organize Data
Data is all around us. That’s not the problem. The problem is organizing and making sense of that data. When it comes to determining the frequency of specific data, manually grouping and counting data can be a chore. Excel can do the work for you.
Between the histogram analysis tool and the array function, you will be sure to get the data you need – in a way you can use it. A histogram, also known as a frequency distribution, is a table or chart that counts the number of times a range of values occurs in a set of data. Histograms work well when you want to measure performance.
Excel’s histogram analysis tool is part of the Analysis ToolPak add-in. To verify that you have the add-in installed, open the Tools menu. If you don’t see a choice for Data Analysis, you’ll need to install the add-in. To do so, select Tools/Add-Ins from the menu bar. Then, select the Analysis ToolPak and Analysis ToolPak - VBA check boxes. Finally, click OK.
The “how to” guide linked to this article will walk you step-by-step through building a histogram. There will be many instances when you need to measure performance. Whether you’re measuring sales results, looking at time variable data or compiling a benchmark, histograms can help.