Chart walls are an essential component of charts that help create a realistic 3D look and improve the presented data's readability. They are especially important in 3D Cartesian charts, which have six walls, one for each side of the chart box.
In 2D Cartesian charts, as well as in Polar, Radar, and Ternary charts only the back wall can be displayed, which can still contribute to the overall look and feel of the chart.
Chart walls can display information from the axes, such as gridlines, stripes, etc., which helps to increase the chart readability. In 3D mode charts have an option for "smart" visibility - that is not to display when the wall will obscure the 3D content.