Table of Contents
What Is A Bubble Chart?To help you create a mental image of what a bubble chart is, let’s create one with a small data sample. Below is a table containing three numeric parameters: Equities, Age of Investment, and Return on Investment (ROI),
|EQUITY||AGE OF INVESTMENT (YEARS)||RETURN ON INVESTMENT (%)|
QuadrantsDepending on the parameters, each quadrant can represent different readings for you. For example:
- Quadrant 1 – Lucrative investments: High ROI in a short investment period. Depending on the type of equity, these quadrants are sometimes unsustainable.
- Quadrant 2 – Good investments: High ROI in a long investment period. Widely acceptable mode of investment. Making further investments in the equities in this quadrant wouldn’t be a bad idea.
- Quadrant 3 – Below average investments: Long investment period, yet low ROI. You wouldn’t want further investments in equities in this quadrant.
- Quadrant 4 – Average investments: Average ROI in a short investment period. Equities in this quadrant could be great for low short-term yields.
When Should You Use A Bubble Chart?Scatter plots and bubble graphs are quite similar in that you can depict relationships between numeric variables using both. However, the addition of a bubble area allows for comparing the third variable. A bubble chart is best when the goal is to determine the relationship between three numeric variables. It would require multiple scatter plots to gain the kind of insights possible with a bubble chart. Even then, gathering insights from multiple charts can result in a disjointed analysis. Below are some bubble chart use cases:
- To determine the relationship between promotional expenses, footfall, and revenue for retail stores over time. You can represent the daily footfall and promotional expenses on the X-Axis and Y-Axis, respectively. At the same time, the plot area would denote a retail store’s revenue generated over a period of time. This chart can help determine the success or failure of store promotions.
- To determine the relationship between CPC, clicks, and conversions in PPC campaigns. A bubble chart represents a perfect way to check if increasing your ad spend on CPC leads to higher clicks and, ultimately, more conversions.
- Word Graphs. Businesses and marketing agencies could use Word Bubble Charts to identify the best keywords, tags, or hashtags. Examples include: identifying the most searched queries in a particular industry for 2022, or the most used hashtags in fashion and cosmetics on Instagram.
- In the JSON data, set the attributes and their corresponding values in “<attributeName>”: “<value>” format.
- Specify the chart type using the type attribute. To render a bubble chart, set bubble.
- Set the container object using renderAt attribute.
- Specify the dimension of the chart using width and height attributes.
- Set the type of data (JSON/XML) you want to pass to the chart object using dataFormat attribute.