BESCO Measurement - Essay Example

BESCO MEASUREMENT Institute Use of Graphs to analyze and garner information Graph showing the rate of development in a given duration of timeComments on the graph To start with, graphs can be defined as tools for analyzing data. They are commonly used in business institutions to show the progress of different factors related to business. Graphs can be used to draw comparisons as well as to analyze various sets of data. The above graph is known as a line graph and is the simplest type of graph to draw among all other graphs.

The graph is used to show the rate of development of a particular fad in business in a given time period, which is between 1950 and 2010. The graph has two axes; the y-axis, and the x-axis. On this graph, the rates of development have been drawn against time in years, where the rates of development are on the y-axis and the time is on the x-axis. The unit used for the y-axis as well as the x-axis is 1. On the x-axis, each unit is used to represent 10 years. The time period covered in the graph runs from 1950 to 2010.

On the y-axis, the rate of development runs from 0 to 700,000. Each unit is used to represent 100,000 units of development. The markings on the line of the graph are used to show a series of development. For the first 10 years, which is between before time in record to the mid-1950s, there was not much change and hence it can be said the development then was constant. Moving on further towards 1960, there was a very slight increase in development. In the time period between 1970 and 1980, the rate of development of the fad rose higher by a few units.

The rate of development was gradual from the time data used to fill the graph started being collected till the mid-1980s, the rate of growth recorded according to the graph was a bit gradual since the line graph remains constant during this time period. However, rapid development started being recorded from the mid-1980s and onwards. 1990 marked the beginning of another series and from then, rapid rates of development can be seen from the graph. Between 1990 and 2010, the rate of development in the ten years alone rose from 50,000 to 290,000.

This was one of the highest rates of development recorded in the time period. This sharpness can be due to a number of factors. However, this is something that we cannot be able to tell from the graph. The year 2000 marked the beginning of the final series on the graph. Between 2000 and 2010, a sharp increase was recorded according to the graph. The steep line shows this high rate of development of the fad. The actual figures for the development increased from 290,000 in 2000 to 610,000 in 2050, which was the end of the time period under study.

According to the graph, one conclusion is that growth was experienced for the better part of the time between 1950 and 2010. However, the development was very slow at the beginning of the time under study. This changed with time and the growth rate gained momentum at some point, resulting in the sharp increase in development that was experienced from 1980 to the end. 2010. This information can be used to make predictions about a certain business activity or fad. Once something is introduced to the market, it takes time for it to pick till it gets to its peak.