Basic Elements of Excel Charts:
The above chart is the basic charts in Excel, We can customize the charts by dealing with different Chart Element Objects and their properties. In this session we will focus on different elements of charts objects.
Here is an examples Column Chart for the same data shown above :

And here I have marked the basic chart elements in Excel each element with different clor for understanding purpose. Most of the time we generally deal with Chart Area, Plot Area, Chart Title, Legends, X-Axis, Y-Axis, Data Labels Data Series, and Gridlines.
Here is the pictorial representation of Chart Elements or Chart Objects in Excel:

Now will see each element of the Excel Chart in detail :
Chart Area
Chart area in Excel Charts is the largest element (portion) of the Chart. We can format the Chart Area and change its border and background colors to make the charts look more cleaner. Legends, Chart Titles, and Plot Areas are the three major child elements of Chart Area. Generally, we do not change the background color of the charts to make them look more professional. Charts look more cleaner with white or default background color. However, we can change the background color to suit the other parts of the excel sheets to make them consistent.
Basic Elements of Excel Charts – Plot Area
Plot Area is the second-largest element (portion) in Excel Charts. It covers the actual chart data area. We can access the Plot Area and Format it to suit our needs. It is the same as Chart Area, if your project needs different background color then we change it. Otherwise default background color (white) looks more cleaner.