Fluorescence decay kinetic data provide significant and additional insight for many biological, biomedical, biochemical, and biophysical studies. The fluorescence lifetime is a valuable measurement because of the quantitative information that is imparts, which is largely independent of fluorophore concentration. These measurements are sought after because they reflect a variety of intracellular changes such as molecular interactions, metabolism, and cellular microenvironmental status. The collection of fluorescence decay times has been applied using many advanced analytical techniques including polarization imaging, super-resolution imaging, FRET measurements, and many more. Yet, there is complexity in the interpretation of lifetime data owing to heavy data processing requirements such as data fitting and reduction. Phasor plotting has been trending and emerging as a useful means to simplify fluorescence lifetime analyses. Phasor graphs originated by vectorizing frequency-domain lifetime data, and have been translated from time-domain data as well. As phasor analyses become routine for lifetime data interpretation, understanding how the phasor plot works, the limitations, and benefits thereof, is important for all of bioscience.