A bullet chart is an advanced version of a bar chart with a target and actual value, as in Figure 15-1. The idea is simple: we combine the bars so that the actual value is inside the plan bar and goes like a bullet in a barrel to the target level. In other words, we see how our sales channels “fire” (exceed the target), or if they just remain in the gun.
Figure 15-1. Bullet chart displaying target and actual margin by sales channels
Bullet Chart Options
Figure 15-1 illustrates the simplest approach to displaying target versus actual. But there are different options, which depend on business context. For example, it is important not only to understand the degree of achievement of performance targets but also to determine in which permissible zone the deviation falls.
In Figure 15-2, we marked zones with colors: light red (which may look pink) is under 80% of execution, yellow is between 80% and 100%, and green is above 100%. Also, the target is shown with a vertical graduation mark, to avoid overloading the chart. In Figure 15-2 you see the case of a company where each manager has a $100 million sales target:
Michael Hayes fulfilled his sales target by 110% and will receive a bonus.
Robert Bailey fulfilled his plan by 90%, but still will get a bonus, although at a discount.
Steven Lee reached only 75% of ...
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