A Cost Plan Trend refers to the direction or pattern of change in costs over a period of time. It involves analyzing historical cost data and identifying trends to predict how costs are likely to evolve in the future. A Cost Plan Trend can indicate whether costs are increasing, decreasing, or remaining stable over time. A Cost Plan Trend provides valuable insights into how costs are changing over time, allowing businesses to anticipate future expenses, adjust their strategies, and make informed decisions to manage financial risks and optimize profitability.
Let's look at the Data and Chart options for this Cost Plan Trend. The Cost Plan Trend utilizes data from the Cost Plan Breakdown table, therefore the Data options will default to the table Cost Plan Breakdown - cost_plan_breakdown.
Conditions: Setting conditions allows you to query the table you are building the chart off of.
Group by: Allows users to organize and aggregate data based on specific fields or criteria. For this Cost Trend Plan example, it is grouping by task - task.
Date Range: This input determines the range of time displayed on the line chart. The Date Range considers the dates associated with the field selected in the Date Field chart option.
Trend Type: Trend Type refers to the general direction or pattern of change in a set of data points over a specific period of time.
Limit: The limit can be set to limit the amount of entries on the Cost Plan Trend chart.