It is a manual data classification method that divides data into classes based on the natural groups in the data distribution. It uses a statistical formula (Jenks' Natural Breaks) that calculates groupings of data values based on data distribution, and also seeks to reduce variance within groups and maximize variance between groups.
This method is based on a subjective decision and is the best choice for combining similar values. However, since the class ranges are specific to the individual dataset, it is difficult to compare a map with another map and to choose the optimum number of classes, especially if the data is evenly distributed.
Sources from Wikipedia
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