A hockey stick chart is a graphical representation of data with a sharp, sudden change following a flat, slow-moving period. It is commonly used to show a rapid inflection point in a data set and has made its way into a variety of industries, from business analytics to medical research and environmental studies.

In business analytics, a hockey stick chart visually illustrates changes in sales and can act as an early warning system for potential losses in revenue or market share. The chart is usually a timeline that indicates sales trends by month or quarter. A robust analysis of such data can provide better future forecasts under differing business scenarios.

In medical research and environmental studies, hockey stick charts are used to demonstrate changes in disease rates, temperature levels, and other metrics. Evaluating a group’s medical results or environmental exposure over time requires a sophisticated analysis of a range of metrics and a visualization of the trends. A hockey stick chart can help researchers visualize the changes over time in order to identify patterns and assess the effects of treatments or other changes on the environment.

It’s important to note that not all dramatic swings in data displayed in a hockey stick chart are genuine trends. Statistical anomalies can create apparent spikes that are not true indicators of trends. That’s why careful analysis of relevant data is needed in order to identify if the sudden change is a genuine trend, or an aberration.

Hockey stick charts are an invaluable tool in quickly and visually highlighting major changes in data sets. The challenge lies in analyzing the data sets to determine the significance of the changes and whether the data is telling a legitimate story or not.