In the dataflow programming paradigm programs are modeled as directed graphs. Are the edges of the graph variables? And are the vertexes functions?

As I understand it in dataflow programming, programs are structured as directed graphs, an example of which is below enter image description here

Is it true to say that the arrows (or edges) represent the variables within a program and the vertexes (blue circles) represent programmatic functions? Or is this too much of a simplification?

I am interested in understanding how dataflow languages actually apply graph theory.