Today we will learn an interesting animation technique that ONLY uses, … wait for it …, Excel Formulas. That is right, we will use simple formulas to animate values in Excel.
Intrigued? Confused? Interested?
First see these Excel animation demos:
Animated icons & fill-color
Animated In-cell Charts
Click here to download the workbook with these examples.
What is the secret sauce behind this animation?
Take 1 portion of crushed basil leaves, 2 portions of grounded roasted coffee beans and mix them with hot water. Add enough sugar and throw it away. 😛
Now, come back to your excel workbook and use circular references to generate the animation effect.
Understanding how Circular References & Iterative Calculation Mode work
In order to get this animation, you should be familiar with two excel magic spells – Circular References & Iterative Calculations. In simple terms,
Circular Reference: is when a cell refers to itself in the formula. For eg. in cell A1, if you write =A1+1, it is a circular reference. The reference can be both direct or in-direct (ie you can refer to cell B1, which refers to A1 again).
Iterative Calculation: If a cell has circular reference, excel can quickly go in to infinite loop (not the place where Apple is head-quartered). To avoid this, we use iterative calculation mode. When you enable this mode, excel solves the cell references only a certain number of times.
Here is an excellent guide on circular references.
How to enable iterative calculation mode?
Simple, go to Excel options > Formulas and then select iterative mode. Change the number of iterations to a large value (so that we can see some animation). Like this:
How to use Circular References & Iterative Mode for Animation?
It doesn’t take a lot of coffee to conclude that using circular references & iterative mode of calculation, we can increment a cell value from 1 to 100 (or 4000, if you fancy).
Assuming you want to increment the value in A1 from 0 to 100, and A2 is used to control the animation (ie if you type “Yes” in a2, only then we increment the values).
In cell A1, we write =IF(A2=”yes”,IF(A1>=100,A1,A1+1),0)
If iterative mode is enabled, when you enter yes in cell A2, you can see the value in A1 going from 0 to 100, very fast.
Now, if you change the formula to =IF(A2=”yes”,IF(A1>=4000,A1,A1+1),0), you can see the cell value in A1 going up from 0 to 4,000 in a few seconds.
But, what about animation?!?
Now that we have the cell A1 changing its value when we want, we just need to link this with conditional formatting to get some magic.
For eg. you can apply conditional formatting on A1 with the following rule to change cell color as the value increases.
Similarly, you can use the value in A1 to draw in-cell charts that grow as the value changes in A1.
Just let your imagination run wild.
Where can you use such animation?
Animation is a powerful attention grabber. I think you can use this type of animation in dashboards to display alerts. For eg. you can highlight portions of dashboard that changed when a different product (or month) is selected.
That said, I strongly recommend against overuse of animation effects. They can quickly become annoying. Not to mention, they are cumbersome to maintain (and add little value).
What are the limitations of Circular Reference based animation?
- You must enable iterative mode of calculation.
- This doesn’t work with charts. Excel charts do not pick up cell values unless the calculation is finished. So you cannot plug values in to charts to expect animated charts. If you are curious to build one, see Daniel’s animated business charts example.
- This can slowdown your workbook: Whenever you run the animation, excel is going to do thousands of calculations and this will slowdown your workbook.
Download Excel Animation Workbook
I have put together a simple workbook showcasing several examples of this technique. Download and play with it.
Excel 2007 link | Excel 2003 link
(Make sure you have turned on the iterative mode.)
Do you find this technique interesting?
To be frank, I find this technique more amusing than useful. But I wrote about it anyway as it shows what is possible with excel. It can be useful in situations where there is too much information and you need to call users attention to something.
What about you? Do you see any practical applications for this technique? Share your ideas and opinions thru comments.
36 Responses to “Visualizing Financial Metrics – 30 Alternatives”
Although I am one of the contestants, I must wholeheartedly admit that the Dashboard of Chandeep is the best of all. It's design, colors, message-conveying is the greatest. My regards!
I would like to learn how Chandeep highlighted the graph when he made a selection on the slicer.
Any links to previous posts perhaps where this was covered by Chandoo?
Thank You
Ahmad
Dashboard from Abhay simply rocks. To the point and conveys the intended message even for a novice.
Infographic by Pinank - is looking good
I have also contributed to this contest. I am really inspired by various entries in above post. Based on following parameters i would like to rate these:
1. Explanatory - Whether dashboard will be used to explain certain thing or mention a story. This type of dashboard will be static.
2. Exploratory - Here user would like to interact more with the dashboard to extract the relevant story or meaning which is not apparent. Hence, this type dashboard needs to have more interactivity.
3. Scalability - If new or more data can be added to dashboard and still the functionality will work. If user wants to add more companies, years, etc. will it work.
Based on above criteria I would rate following entries as top ones:
1. Explanatory - by Pinank
2. Exploratory - by Chandeep
3. Scalability - In most of the entries additional work would be required to include more data except for mine. new years or companies can be easily added and analysed in chart by me.
These entries are really inspiring i will definitely use it to revise my dashboard.
Abhay's dashboard is good however, if Chandeep can go with the trend analysis Abhay has done (line graphs), then maybe Chandeep's dashboard can excel.
And now I'm angry that I haven't noticed contest announcement earlier and I've sent what I've sent... Building a dashoboard was supposed to be my goal but lack of time forced me to sent sth simplier and now I can see how big mistake it was (when it comes to fighting a competition like this). Nice work guys! It's realy inspiring! Even less advanced works are intresting because of different task approach. So wance again: thanks 🙂
If I had to choose the best ones (IMHO) I would go for William and Edouard as a second place (for both). Despite some weak sides (like label errors or "work place" next to a final chart) they meet my sense of clear data visualisation and contain intresting interactive elements.
The best entry is definitly Chandeep's. Although there was some failing with automatical comenting feature (#arg! in my Excel'10) it's full of advanced dashboarding tricks which makes it easy to read. Furthermore, as one of the few he finished(?) his project - it opens in a "secured mode", with no place to mess anything, no data trash - just choose, point and read/print.
It all deserves to get the Grand Prize!
and BTW: when can we expect another contest? 🙂
Big round of applause to everyone who participated. I'm amazed at the creativity of our community. 🙂
My vote would be for Chandeep, MF Wong, and Miguel.
I have not contributed, but have read this post with a lot of interest. I would like to congratulate all participants for there work & inventiveness.
My #1 spot goes to Gerald for showing all the data in 1 graph & to have still kept it simple & readable.
I would give a prize for innovation to Pinank for the use of icons.
Great to see so much creativity.
I have not contributed also, but have wait his post for a long time (because I have the same kind of issue in my "daily life").
My top 3 is the following :
- Pinank for the effeiciency and for the style
- Arnaud for the calculation behind the chart
- Miguel for the elegant business oriented dashboard
All the entries look very good. However I feel Pinanks entry seems the best as it is very explanatory with good innovative thoughts.
Hi all,
Some brilliant dashboard and interactive entries - really nice stuff and lots of clever tricks.
However, given that the initial question was "Need to quickly visualize 3 variables ( Company, years, Financials) in a single […] chart", unfortunately I don't think any dashboards - as cool as they are - really answer that question. The interactives also assume that this will be opened in Excel rather than seen in a printed hand-out, which essentially means you'd need multiple charts to show all the variables or be limited to a computer screen. Even Chandoo's initial panel chart approach - which is static, and also very simple and clean - is not really a 'single chart'. Furthermore, most of the interactives don't actually show all variables at once but rather slice the data into more manageable chunks, which is not staying true to the original brief.
So, in light of the above, I'd vote for Gerald in first place, Edwin in second and finally my third chart option in third place (yes, I know, voting for yourself is poor form but unfortunately I think the original question disqualifies most of the entries).
Anyway, a fun competition and thanks for following up on this Chandoo.
I am once again in awe of the submittals to a Chandoo contest. The results are so impressive. I have been trying to build nice dashboards for years and take so many courses, but I don't seem to have the eye for design. The color choices, fonts and chart choices are so important and I'm amazed at how some people really have a great talent for making the best selections.
It's nice to have such quality inspiration!
I saw Chandeep's entry on his website and I must say that I was very impressed by it. Simply loved it. Somewhat makes it difficult to keep an open mind towards the other entries.
My ranking:
1. Chandeep for its completeness as dashboard.
2. MF Wong/Miguel for "simple" but smart graphs.
3. Pinank's entry looks like a page from a glossy magazine.
During scrolling I stopped at Chirayu's entry: easy to the eye.
But honestly congrats too all for having the balls to participate and thank you for sharing your creativity!! Hat's off to you.
Miguel, MF Wong, and Pinank.
Thanks to Chandoo and everyone who contributed for the great ideas.
Hi,
I personally liked the dashboard of:
1. Chandeep - His dashboard is clear, crisp and informative, his color combination and design is awesome, also he has shared few details like operating leverage plus he has added few comments. In totality, its a complete packaged dashboard.
2. Miguel - His dashboard is simple and all the information is visible in one shot.
It's very interesting looking through these - you can definitely tell who's done courses in dashboard design and with whom!
I particularly liked Pawels 'sperm chart' 😉 ... squint your eyes - you'll see what I mean). each of the charts or dashboards are put together well - but I agree with Elchin on this one - Chandeeps dashboard set 'tells a story' of the data. Student of Mr Few??
Without a doubt, Chandeep deserves #1. #2 goes to Abhay, and #3 to Pinhank, for the great presentation style if nothing else.
MF Wong
Do not apologize for any delay! Moving from one town to the next only 10 miles away is tough enough - let alone a family moving from one country to another!
THANK YOU for this excellent post!
As one of the participants, I have been looking forward to this post for long. But totally understood the reason of delay, so never mind! Hope all is well in NZ.
Thank you very much to those who like my chart! 🙂
Also thanks Chandoo for suggesting a name for it "Container Chart", which I have never thought about.
Personally I like the infographic by Pinank. Very outstanding design and use of icons. My two-cent worth: Just the lower part of "Yearly Trend" is actually good enough to answer the question, isn't it? 😉
Cheers,
What an outburst of creativity!
Vote for Chandeep and Pinank!
Agreed!
Awesome dashboards
Infographic by Pinank is awesome
Thank you so much for sharing!! i learn so much from these posts
Highly appreciated
Ahmad
South Africa
Fantastic responses from all the contestants. Some really great ideas. I'm inspired and will adapt some of these to my own dashboard work. Thanks for hosting such a great contest!!
Thank you for sharing this valuable resources !!!
I have only a couple of question that wasn't able to solve regarding data-origin.
Nowadays I have the data coming from a "current" situation from a big database containing all kind purchase-orders information of many different projects. I can calculate the current status of each project investments, but I am not able to track automatically the progress of it month to month or week to week by freezing the calculated metrics on each date. This would let me calculate new graphs and the speed of investments execution.
My question would be, if it is possible to calculate something with an excel formula and automatically freeze this values in a new row or new column. I guess that right now, Basic is the only way, but I guess that there could be a function to copy-a-range, insert-range-as-value-only as a new row or a new column or display everything down or left.
This would preserve the excel formulas defined, and add new data, everytime that it is re-calculated.
Any idea?
Great post , loved all chart representation. Congratulations to all participants and winners.
I need updates to this article.
I didn't even realize this got posted. Came across it today. Thanks
Fantastic post but I was wondering if you could write
a litte more on this subject? I'd be very thankful if you could elaborate a
little bit further. Thank you!
Hi Chandoo,
I comeback after a long time on your Blog. So I saw it lately. Its a brilliant idea.
I like all entries and these are amazing efforts from all participants.
Regards
The report presented by Pinanik is excellent and very innovative. Could be an interesting work for portfolio presentation