Bullet chart is a bar chart with extended options and serves as an alternative to meters and gauges
Bullet charts are useful when it comes to visualizing and comparing the performance of a measure to a qualitative scale and to a target value.
They were developed by Stephen Few, who wanted to create the advanced chart that could serve as a replacement for meters and gauges. Traditional progress bars and thermometer charts had several issues that gauges and meters had: they commonly show too little data, there was too much distracting and pointless decorations and they required a lot of space.
So with the bullet chart, users have:
1) A bigger room for displaying the data (both horizontally and vertically) 2) More readable and informative data 3) Multiple measures to display
A bullet chart can contain one to three measures. The first one is called measure and is the actual value represented by the bar. The second is called the marker and it characterizes a target value which is represented by a vertical marker line. The third one is the range that characterizes a qualitative range which is shown behind the bar.