EconStatsCraft rigorous, plain-spoken econometrics
Econometrics that explains itself.
Regression, panel data, time series and the whole battery of tests. Every result is followed by a verdict you can defend.
Load a dataset to see it here.
EconStatsCraft › Pie chart
Parts of a single whole. Included because it is asked for, with the caveat attached: people judge angles badly and lengths well, so two similar slices are indistinguishable and bars would answer the same question better.
A pie chart asks the eye to compare angles, which people do badly - and it usually asks this to convey numbers that would fit in a sentence. It has one genuine strength: the metaphor of a whole being divided is immediate, and for two or three parts where the point is "roughly half" rather than a precise ranking, it communicates faster than a bar chart. Beyond that it is worse at everything.
When there are two or three parts, the point really is "these are the parts of one whole", and precision does not matter. In almost every other case bars answer the same question better, and this app says so on the chart.
Slice i subtends an angle \theta_i=2\pi\,y_i/\sum_j y_j and its area is proportional to the same fraction. The reader must therefore judge either angle or area, and both sit near the bottom of the Cleveland-McGill accuracy ranking - well below the length judgement a bar chart offers for the identical data. The normalisation to a whole also means the chart CANNOT represent anything that does not sum meaningfully: overlapping categories, multiple responses, or negative values have no valid pie.
Market shares of 34%, 33% and 33% make a pie in which the leader is genuinely invisible - three slices that look identical, when the ranking is the entire point of the chart. The same three numbers as bars show the difference immediately, and as a sentence they are clearer than either. The pie survives one case: a single share against its complement, where "about a third" is the message and precision is not wanted. If you find yourself adding data labels so the reader can tell the slices apart, the labels are doing the work and the chart is decoration.
| If you see this | It means | Do this |
|---|---|---|
| Two slices of similar size | Angles cannot be ranked by eye | Use a bar chart if the ranking matters |
| Slices summing to more than 100% | Multiple-response data | A pie is invalid. Use a bar chart of percentages |
| Twelve slices | Far beyond readability | Rank as bars, or group the tail |
| A negative value | No valid representation | Use bars |
| Two pies compared | Angle comparison across circles | Use a grouped bar |
| A 3D pie | Perspective distorts the areas | Never defensible |
Bar chart, which does the same job more accurately. Stacked bar, for composition compared across groups.
Line chart · Area chart · Bar chart · Stacked bar · Scatter plot · Bubble chart · Histogram · Box plot · Heat map · Rebased to 100 · Lorenz curve and Gini
Line chart · Area chart · Bar chart · Stacked bar · Scatter plot · Bubble chart · Histogram · Box plot · Pie chart · Heat map · Rebased to 100 · Lorenz curve and Gini
World map · Bivariate map · Flow map · India - state map · India - district map
Descriptive statistics · Summary by group · Two-way table · Classical statistical tests
Multiple regression (OLS) · Logit / Probit · Tobit (censored) · Truncated regression · Multinomial logit · Ordered logit / probit · Quantile regression · Poisson / Negative binomial
Time-varying coefficients (Kalman) · Unit root tests · Correlogram (ACF / PACF) · ARIMA / SARIMA · Rolling-origin cross-validation · Theta method · Unobserved components · STL forecasting · Forecast combination · Markov regime switching · Change frequency (resample) · ARCH / GARCH volatility · Decompose & filter · Spectral analysis · Exponential smoothing · Forecast accuracy
Yield curve (Nelson–Siegel / Svensson) · Dynamic factor model · Dynamic regression (ARIMAX) · Structural VAR · VAR · Granger causality · Cointegration · VECM · ARDL & bounds test
Panel regression · Panel cointegration tests · Heterogeneous panel: Mean Group & PMG · Gravity model of trade · Dynamic panel GMM · Panel diagnostics · Panel unit-root tests
Principal components (PCA) · Factor analysis · Cluster analysis
Conjoint analysis · MaxDiff (best–worst scaling) · TURF - reach of a product line · Price sensitivity (Van Westendorp) · Market basket analysis · Perceptual map · Scale reliability (Cronbach’s alpha) · Key driver analysis
Spatial autocorrelation · Spatial regression · Heckman selection · Instrumental variables (2SLS) · Difference-in-differences · Staggered difference-in-differences · Regression discontinuity · Matching & weighting · Oaxaca–Blinder decomposition
Black–Scholes option pricing · Bond price, duration & convexity · Merton distance to default · EMI / home loan planner · CAPM / beta estimation · Multi-factor model · Portfolio optimization · Value at Risk & Expected Shortfall · Performance & drawdown · Time value of money & NPV/IRR · Equity valuation (DDM, FCF, residual income) · Cost of capital (WACC) · Binomial option pricing · Option strategies (payoff & profit) · Forwards, futures & swaps · Credit risk & Basel capital · Extreme value theory (tail risk)
Life table · Life annuity · Life insurance pricing · Chain ladder reserving · Buhlmann credibility · Survival analysis · Mortality graduation · Aggregate loss model · Ruin probability · Multi-state Markov model · Loss severity fitting
Monte Carlo experiment · F-test, Wald & Chow · Structural breaks & stability
Regression vs machine learning · Ridge / Lasso / Elastic Net · Random forest · Gradient boosting
EconStatsCraft rigorous, plain-spoken econometrics
Regression, panel data, time series and the whole battery of tests. Every result is followed by a verdict you can defend.
Load a dataset to see it here.
Pick the example closest to your question. You get a spreadsheet with the right columns and a few rows showing the expected format - replace the numbers with your own, then paste or upload it back.
Copy the header row from the table above (or from the downloaded template), put your own rows underneath, and paste the whole thing here. It is checked against the layout before anything is imported.
Or click a row in the preview below.
For a units or notes row.
Search every source at once. World Bank indicators need countries and years; everything else loads in one click.
Loading the catalogue…
The engine stays loaded, so this is quick - and it leaves your open tab and panel layout alone.
⌘/Ctrl+Enter runs the current analysis. ⌘/Ctrl+P exports the session as a PDF. Esc closes this.
In the Notebook: Enter starts a new block and
Shift+Enter a new line inside one; Backspace at the start
joins back into the paragraph above; / on an empty line inserts anything.
⌘/Ctrl+B, I, E, H and
M apply bold, italic, code, highlight and maths.
#, ##, -, 1., > and
``` at the start of a line convert it.
Sign in to run unlimited analyses.
Scroll to pan · Esc to close