Bar Chart with Absolute Variance automatically calculates absolute variance between two scenarios and generates an overlapping bar chart that displays two scenarios with a variance chart situated parallel to the chart. The visualization is meant for comparing Actual, Forecast, Planned, and Previous Year data. The visualization formatting for the charts is influenced by the International Business Communication Standards (IBCS).By convention, it is recommended to use this chart with categorical variable on the y-axis. On scenarios, where time is the basis of the analysis, it is recommended to present using Column Chart with Absolute Variance.
Customization available includes inversing the colours for red and green, resizing the data label font sizes, hiding data labels, adjusting units(to thousands-K, Millions-M, Billions-B) and more.
This visualization is ideal for comparing “Actual vs. Planned”, “Actual vs. Previous Year”, “Forecast vs. Planned”, and “Forecast vs. Previous Year”.