The right paradigm: Alternative charts

[Instructor] Basic charts and graphs are…familiar to everyone and they're great at showing…certain types of data.…One limitation though, is the number of variables.…What if you have more variables or more complex information…than you can do in the most basic charts?…This video goes through some of those alternatives…and when you might use them.…One of the alternatives is a chart type called a box plot.…And, you know, it's interesting,…you actually won't see these in the real world…that often, although if you're in the financial world…you see them very frequently in use…in showing stock market data.…

They're actually really good at showing multiple variables.…So, let's say that this is stock market data.…These box plots are showing me the open and close price.…Let's say that this is the open price…and this is the close price of this stock.…As well as the average stock price throughout the day.…These things are called whiskers, these little dotted lines,…the lines above and below.…These might be showing me the top price for the day…