What is a Bubble Chart?
A bubble chart, also referred to as a bubble plot, is a dynamic data visualization tool that enhances traditional scatter plots by introducing a third dimension through the size of bubbles. It utilizes the X and Y axes for two dimensions and represents the third dimension with varying bubble sizes. This allows users to compare multiple data points simultaneously, facilitating the identification of patterns, trends, and relationships within complex datasets.
Use Cases for Bubble Charts
Bubble charts can be used in the following scenarios:
- Comparative analysis: Compare entities or categories based on three dimensions such as revenue, units sold, and profitability.
- Trend analysis: Track changes over time by plotting data points with time on the X-axis, a numeric variable on the Y-axis, and bubble size representing a third variable.
- Market segmentation: Analyze market segments based on dimensions like customer demographics, behavior, and purchase patterns.
- Customer lifetime value (CLV) analysis: Analyze CLV by combining metrics like average purchase value, purchase frequency, and customer retention.
- Campaign performance analysis: Visualize marketing campaign performance based on reach, conversion rates, and impact.
- Social media analysis: Analyze social media data, such as sentiment analysis or brand mentions, using bubbles to represent posts or conversations.
How to Set up a Bubble Chart
Create the bubble chart
2] In the upper right, click the "+" icon.
3] From the widget menu choose Data Widget.
6] The New Widget column appears on the right side with the Data tab preselected. To create a bubble chart, click the icon at the far right across the top menu.
Set up the data tab
7] On the Data tab, enter the following information according to this image:
|A||Use Data Cloud||Using the Data Cloud will bring in data from TapClicks data cloud which helps in analytics and more detailed reporting.|
|B||Title||Enter a title for your widget to identify and organize it effectively.|
|C||Data Category||Choose the appropriate data category such as data source, channel, or smart connectors|
|D||Data View||Choose a relevant data view aligned with the dimensions and metrics you plan to use.|
|E||Metrics||Select the three appropriate metrics based on the chosen data view. The first is (X), the second (Y) and the third is bubble size.|
|F||Dimensions||Utilize dimensions like Date, Campaign, Account, etc. to group the data for a meaningful representation.|
|G||Time Grouping||Customize time grouping by selecting options like day, hour, month, year or other intervals.|
Set up the Styles tab
8] To style your widget, see How to Use Widget Styles to Customize the Way Data are Displayed in Charts beginning at step 7.
9] When you have your bubble chart widget the way you want, click Save at bottom of the column.