Dummy Data – How to use the Random Functions
Using collected or known data is the best when developing Excel models, but from time to time this may not be available when you are developing your model.
This post will look at some options for setting up Dummy Data using Excels Random functions.
Variability
Real data displays a range of variability, but this variability is generally within ranges or distributions of ranges of results.
All fields type can contain variability
ie: Country, State Names and Zip/Postal Codes, Maybe large lists but are fixed
Peoples Names, Maybe a large lists but are fixed by local rules
Ages, generally less than 80, never less than 0
Dates: Rarely before 1990 or 1900 in rare cases
Lists: are fixed
Numbers: generally random or conforming to a fixed distribution or known trend
Numbers: may include integers, decimals, negatives, extremely large numbers or all combinations
In generating random lists you will need to choose if you want random data, random data within constraints or random with a distribution. The choice is really yours and should in part be based on what the data is being used for and how accurately it needs to reflect reality.
Techniques
The techniques described below are all shown with a worked example in the attached Examples File or the Excel 2003 Example
Each example is annotated below like (Example 4.). ie: Refer to Example 4 in the above example files.
Dates
Setting up Random Dates is a simple process using the Date function.
=Randbetween(StartDate,EndDate)
Dates in a Range of Years
=Randbetween(Date(2000,1,1),Date(2011,12,31))
Will give a list of Random dates between 1 Jan 2000 and 31 Dec 2011 (Example 1.)
(Thanx Mike W)
Dates in a Month
=Date(2010, 6, Randbetween(1,30)
Will give a list of Random dates between 1 June 2010 and 30 June 2010 (Example 2.)
Don’t worry that the above formula (Example 1) can actually produce a 31 Feb 2005, the Date function will happily convert that to 3 March 2005 (Example 3.)
Dates within a Date Distribution
=DATE(2011,7,NORMINV(RAND(), 0,60))
Will give a list of Random dates between approximately 1 Jan 2010 and 31 Dec 2010, with a mean of July 1 and standard deviation of 2 Months (60days) (Example 4.)
Where NORMINV(RAND(), 0,60) will return values between -180 and +180, 99.7% of the time
Text Fields
Dependant on how many items in the list you require there are 3 techniques available
Choose
For small lists of less than 6 to 10 items you can use a simple Choose function (Example 5.)
=Choose(Randbetween(1,6),”Item 1″, “Item 2”, “Item 3”, “Item 4”, “Item 5”, “Item 6”)
VLookup
Using VLookup (Example 6.)
=Vlookup(Randbetween(1,List Length), List, 2)
Index
Using Index (Example 7.)
=Index(List, Randbetween(1, Counta(List) ))
Numbers
Small Random List of Numbers
Random from a small list of numbers (Example 8.)
=Choose(Randbetween(1,6), Numb 1, Numb 2, Numb 3, Numb 4, Numb 5, Numb 6 )
Note that the numbers:
- Don’t have to be in any order,
- Can be integers, negatives or contain decimals
- Can be repeated
eg: =Choose(Randbetween(1,6), 18, 21, -19, 36.4, 18, 24)
Random Integers
Return Integers between Start and Finish (Example 9.)
=Randbetween(Start, Finish)
=Randbetween(50, 100)
Will return an Integer between 50 and 100
Random Numbers
=Rand()
Will return a random number between 0 and 1
=Round(Rand()*100, 2)
Will Return Numbers between 0 and 100 with 2 Decimal places (Example 10.)
Random Numbers Based on a Distribution
=Norminv(Rand(), Mean, SD)
Will return a random number between 0 and 1 based on a distribution of Average = Mean and Standard Deviation = SD
=Norminv(Rand(), 50, 17)
Will return a random number between 0 and 100 based on a distribution of Average = 50 and Standard Deviation = 17, (Example 11.)
Random Numbers Fitting a Trend
If your distribution has to match a trend add a Random component to the Trends equation (Example 12.)
Y=mX+c
= rand() * X + rand()*5
= rand() * A2 + rand()*5
True/False
Choose
Use Choose and Randbetween (Example 13.)
=Choose(Randbetween(1,2), True, False)
If
Use If and Rand (Example 14.)
=If(Rand()<0.5, True, False)
Combination Text and Numbers
The above techniques can be combined to make lists of Alpha Numeric Data
Say your business has a fleet of vehicles (TR=Truck, VN=Van, CAR=Car)
=Choose(Randbetween(1,3),”TR”,”VN”,”CAR”) & Text(Randbetween(1,15),”0#”)
Will randomly choose 1 of “TR”,”VN”,”CAR” and add a random number between 1 and 15 to it format with a leading 0, eg: TR05, (Example 15.)
Other Sources of Data
Random Data
There are a number of web sites where Random Data is available.
http://www.fakenamegenerator.com/order.php
http://www.generatedata.com/#generator
http://www.melissadata.com/lookups/
Open Source Data
There are a number of web sites where Open Source Data is available.
http://www.readwriteweb.com/archives/where_to_find_open_data_on_the.php
Function Used:
Rand: Returns a random number between 0 and 1.
Randbetween: Returns a random Integer between lower and upper limits. Pre Excel 2007 Randbetween was only available through installation of the Analysis Toolpak (Thanx Luke).
Norminv: Returns the inverse of the normal cumulative distribution. That is it returns the X value from a Normal Distribution that has a know Mean and Standard Deviation where the a known cumulative percentage is supplied.
Choose: Choose an item from a list of up to 254 items.
Vlookup: Lookup the matching value from a list and return a data item from another column from the same location.
Index: Retrieve an items from a defined location within a range.
Text: Displays a number as Text with a defined format.
Other Uses of Random Functions
Of course the techniques shown here don’t have to be used for setting up Dummy Data.
One area where Random numbers is used is in Monte Carlo Simulation. This has been discussed at Chandoo.org at Data Tables and Monte-Carlo Simulations in Excel a Comprehensive Guide
Techniques
The techniques described above are all shown with a worked example in the attached Examples File or the Examples File 2003 ver
Limitations in Pre Excel 2007 versions
The Excel function, Randbetween, was only introduced in Excel 2007. As such the exaples above will only work in 2007/10.
However a simple alternative is available
Randbetween(Low, High) = Low + Int(Rand()*(High-Low))+1
Randbetween(90, 100) = 90 + Int(Rand()*10)+1
Examples using this approach are shown in the 2003 Version of the Examples files above.
How have you made Dummy Data or used the Random Functions?
How have you made Dummy Data or How have you used it ?
How have you used Random Numbers in your workbooks ?
Let us know in the comments below:
18 Responses to “Best Charts to Compare Actual Values with Targets – What is your take?”
Great post. I can't vote, though, because the answer I want to put down is "it depends". As with all visualisations, you've got to take into account your audience, your purpose, technical skills, where it will be viewed, etc.
I'm with Andy: It depends. Some I would use, some I might use, some I won't touch with a barge pole.
Naturally I have comments 🙂
The dial gauge, though familiar, is less easy to read than a linear type of chart (thermometer or bullet). It's really no better than the traffic lights, because all it can really tell you is which category the point falls in: red, yellow, or green.
By the same token, pie charts are so familiar, people don't know they can't read them. Remember how long it takes kids to learn to read an analog clock?
Bullet charts don't show trends.
With any of the charts that have a filled component and a marker or ine component, it makes more sense to use the filled component (area/ column) for target, and the lines or markers for actual.
[...] Best Charts to Compare Actual values with Targets (or Budgets … [...]
I voted for #6 even though I agree with the other comments that it depends.
The majority of the votes are for the #2, thermometer chart. I still have yet to understand what happens when you are above plan/goal, which was brought up in yesterday's post.
Also, I agree with Jon in that it would be better to flip the series and make the filled part the target or goal and the line or marker the actual.
I am also a fan of using text when appropriate if the data is among other metrics in a type of dashboard. Calling it out by saying actual and % achievement is a good option.
Another "it depends" vote. Are you just looking at one or are you comparing a number of targets with actuals? You didn't include a text box. The problem with sentences is that they can get lost in a page of gray text. A text box can call attention to the numbers and line them up effectively.
I'm with Jon: "Some I would use, some I might use, some I won’t touch with a barge pole" and I'm surprised that some of your readers voted for the last group.
Jon says:
With any of the charts that have a filled component and a marker or line component, it makes more sense to use the filled component (area/ column) for target, and the lines or markers for actual.
Why does this make more sense? I like 6 the way it is, although I would use a heavy dash for the plan/target marker.
"It depends" is also my take. What I usually try to drill into my clients dashboard design is the fu ndamental difference between spot results (am I on target for this month) and long term trends.. I always try to create 3 different set of graphs to represent real perormance:
- spot results vs objectives
- cumulative results vs objectives
- long-term trend (moving average) mostly) to see where we're going
[...] Best Charts to Compare Actual Values with Targets – What is your take? (tags: excel charts) [...]
[...] Related: Charting Principles, How to compare actual values with budgets [...]
[...] Excel Charting Alternatives to compare values [...]
Jon says:
With any of the charts that have a filled component and a marker or line component, it makes more sense to use the filled component (area/ column) for target, and the lines or markers for actual.
Why does this make more sense? I like 6 the way it is, although I would use a heavy dash for the plan/target marker.
I totally agree, Bob. I would normally favour a line for the target and a column for the actual, you can see quite easily then which columns break through the line, then.
[...] best charts to compare actual values with targets — den Status mal anders zeigen, z. B. als Tacho [...]
Thermometer charts: "Not appropriate when actual values exceed targets" - this is easily solved by making the "mercury" portion a different color from the border, then you can clearly see where the expected range ends and the actual values keep going.
People seem to knock gauges quite a bit in dashboarding, but trying to show comparison of realtime data between operating sites and targets for each site can easily be done with a bank of gauges that have the optimal operating points at 12 o'clock.
The human eye is great at pattern stripping, and any deviation of a gauge from the expected 12 position will quickly register with an operator and attract his attention. Using a colour background, or meter edge, will also indicate the sensitivity of a particular site.
[…] Best charts to compare actual with target values […]
[…] Best charts to compare actual with target values […]
[…] work laptop I have a favorites folder just dedicated to Excel charts. Its got things like “Best Charts to Compare Actuals vs Targets” and “Best charts to show progress“. I love me some charts […]
I am wondering how will the plotting work, for some of the targets which may have been achieved before time. E.g. for the month of Jul the target was 226 and the actual was 219. So the chart will show a deficit in meeting the target by 7 points but what if this 7 may have been completed earlier in month of June. So ideally it not a deficit.