It is about time to upgrade your Excel skills by creating dynamic charts. Using a dynamic real estate chart, you can automatically see it move. The movement is a reflection of changes or added data. This is possible when you clearly define the source data as a dynamic range.
Learning to create a dynamic chart is best if you constantly use Excel and would like to work more efficiently and amaze everyone with your new skill. If you are interested in creating a dynamic real estate chart in Excel, you may find this article a good read.
A data range is a cell, row, or column in your spreadsheet. It can also be a selection of two or more cells, which may not necessarily be beside each other.
The chart data is a diagram or graph representing and organizing both numeric and qualitative data.
Dynamic range, on the other hand, also referred to as expanding range, can automatically adjust (expand or contract) to make room for added or deleted data. A dynamic range often becomes source data in a chart.
A name manager or named ranges in Excel are very useful when working with continuously changing data. The name manager function can be accessed from the formulas tab of the Excel toolbar.
You can create a unique reference point for the selected data source using the name manager function in Excel. This reference cell with a unique reference name can be used as part of a formula in Excel.
This can make referencing easier, so you don’t have to go back and forth to select the desired data cells each time. The name manager function creates dynamic charts using the dynamic formula method.
You can conveniently and effortlessly create real estate templates and charts in Excel using free and formatted templates, you can use dynamic real estate templates to make your work faster and better looking.
You can create a dynamic real estate chart in Excel using two common methods – the table method and the dynamic formulas method.
The table method or table feature is an easy way to create dynamic ranges in Excel. The first step is to select data source on your spreadsheet (preferably two columns of data). Then, click on the Insert tab in your Excel toolbar.
After which, click on the table tab. A dialog box will give you the option to change your data source. You can press the ok button if you don’t need to change anything. If the selected range doesn’t have headers, uncheck My table has headers option.
The table is now ready. You can now create a dynamic chart by selecting a cell header that you want to be displayed on the graph. For instance, you are making a dynamic chart for sales your real estate company is earning on a daily or monthly basis.
The first column header is labeled Date and the second column header is labeled Sales. Select the cell with the header Sales. Then, click the Insert tab from the toolbar.
You may choose the chart that you would like to use. You can use several options from the charts group: column charts, line charts, pie graphs, bar graphs, and many more.
Excel will then generate the chart for you. Whenever you update the table, you can see the chart automatically update. Adding data to your table will expand the chart. If you decide to delete a row of data, the graph will show an empty space to reflect the deleted data.
The second method for building dynamic charts in Excel is the dynamic formula method. This method is slightly more complicated than the table method. There are two possible reasons for using the dynamic formula method over the table method.
The first reason is you don’t want to use a table for your data range. Second, you are using an older version of Microsoft Excel where the table feature is unavailable.
Whatever your reason, it would be to your advantage if you know how to apply both methods. The dynamic formula method is more complex than the table method, so here is how you do it.
First, you can use the same data set from the table method above, Date and Sales. The next important step is creating dynamic named ranges using the offset formula for Date and Sales.
Click on the Formula tab in Excel, then look for the Name Manager tab and click on it. A dialog box will appear; click new. You must specify unique dynamic range names such as Date1 and Sales1. Afterwhich, enter the offset function =OFFSET(reference,rows,columns,height,width) in the Refers to field.
Creating an offset function works by inputting the formula: =OFFSET(Sheet1!$B$3,0,0,COUNT($B$3:$B$16),1).
Sheet1! refers to the source spreadsheet where the series values are located. Generally, the row and the column default value is 0, and the default value of the width is 1. You can lock the values in the formula by pressing F4. A $ (dollar sign) appears to signify a locked value.
At this point, you now have two dynamic named ranges. Now, you can create a chart using the dynamic named range. Click on the Insert tab in Excel and choose your choice of chart. Then, click on the Design tab to make your chart dynamic.
Now, click Select data, and a dialog box will appear. Under the Legend entries (series), click add. This is where the unique name range you created (Sales1) will be used. The formula will be: =Sheet1!Sales1. Then, click ok.
For the Horizontal (Category) Axis labels, click the edit button. The formula will be: =Sheet1!Date1. Then, click OK. You can now see your chart changing whenever you make updates to your data.
You can make dynamic charts in Excel in two ways – the Table Method and the Dynamic Formula Method. You can easily make a real estate chart in Excel using the Table Method.
Yes, you can make the chart title dynamic in Excel. To do this, click on the chart title and enter the formula reference in the formula bar. The formula is in the format: =ReferenceSheet!LockedCell (Sheet1!$B$3). This will make your title chart dynamic.
Excel can help you create dynamic charts for real estate finance models. Creating a chart dynamic allows for easier data updates and more engaging interactions with data.
There are two ways you can create a dynamic chart in Excel – Table Method and Dynamic Formula Method. The Dynamic Formula Method is more complex, and you may be frustrated if you don’t get the formula right the first time.
Try both methods so you can choose a suitable method for your real estate business.