Method for Interpretation of Charts Using Statistical Techniques & Machine Learning & Creating Automated Summaries in Natural Language

Disclosed subject matter relates to data analytics including a method and system for generating a contextual summary of one or more charts. A summary generating system extracts chart data associated with each chart received from one or more sources and determines context of the chart data. The summary generating system computes statistical data of each chart by analyzing chart data based on predefined rules corresponding to the context. The form of analysis to be performed depends on the context of the chart data. Furthermore, insights of each chart are generated by mapping the statistical data with predefined narratives corresponding to the context. Finally, the summary generating system, automatically generates the contextual summary of the charts corresponding to the context of the chart data in a predefined template format using the generated insights of each of the one or more charts. The contextual summary provides holistic information of the interpreted charts.