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Managing a project is one of the most challenging tasks you can ever undertake.
Essentially, you have to juggle between people, processes, and programs to produce desired results. Each of the aforementioned components generates an incredible amount of data. Besides, they are weaved together in a way that creates unimaginable complexity in terms of relationships.
Getting overwhelmed with data is very easy. You need charts that simplify everything and uncover critical insights that support your data story. In other words, you need a Matrix Chart.
In this blog, you’ll have:
Definition: A Matrix Chart is a visual representation that organizes data into a grid format, using rows and columns to display relationships or interactions between different variables.
Each cell within the grid represents the intersection of a row and column, often containing quantitative or qualitative data, such as counts, percentages, or categorical information.
Matrix charts are widely used for comparative analysis, decision-making, and visualizing relationships, such as in SWOT analyses, correlation matrices, and task prioritization frameworks.
So what is a Matrix chart and how does it matter to you?
A Matrix Chart is one of the easiest charts to read and interpret. Essentially, your audience will not struggle to understand the key insights. Besides, it’s incredibly easy to draw a slope chart if you use the right visualization tool.
With this chart, you don’t need much customization to highlight key insights. Again, it depends on the tool you’re using for the exercise.
Secondly, as a project manager, you’re confronted with complex data with innumerable relationships (people, processes, and programs). Remember, data in today’s world is gold. You need lots of it to find answers to the current problems facing your organization.
So it’s incredibly easy to get lost in this data if you don’t have the right chart to simplify everything.
Imagine trying to separate signal from noise in a massive data table made up of different variables that are highly interconnected.
Where do you start?
You don’t need to make your life harder than it is. Use a Matrix Chart to crystallize complex and massive data sets into actionable insights. We guarantee that you’ll have simple and easy-to-read charts that complement your data story seamlessly.
Use a Matrix Chart whenever you need to identify and assess the relationships between two or more variables.
If you have data that falls in either category below, use this chart to make your data story irresistible and compelling.
Matrix diagrams are beneficial in understanding causal relationships, especially when troubleshooting possible challenges in a project.
Essentially, use a Matrix Chart to visualize complex (many-to-many) relationships. This cutting-edge chart can empower you to identify the different ways variables interact and depend on one another to:
As for project managers, use this chart to visualize the relationship between objectives, factors, and causes within your organization.
When comparing two lists with a simple one-to-one relationship, you can easily depict the relationships in a straightforward manner.
But, if some of the elements in the list are related to more than one other element, other forms of visualizations, such as bar charts, become inadequate. The connections between each data point will become tangled and difficult to track.
That’s where a matrix diagram comes in.
A Matrix Chart transforms hidden insights into low-hanging fruits by documenting the two (or more) lists as rows and columns to map their relationships.
And this brings us to the next insightful section about the components that build up the chart.
Displays the relationships between variables using correlation coefficients. Ideal for statistical analysis to identify patterns or associations in data.
Organizes Strengths, Weaknesses, Opportunities, and Threats for strategic planning, helping businesses and projects assess their positioning effectively.
Compares multiple options against specific criteria to aid in decision-making and prioritization. Widely used in management and project planning.
Plots risks based on likelihood and impact, making it essential for project management, safety planning, and contingency strategies.
Used in machine learning to evaluate classification models by displaying true positives, true negatives, false positives, and false negatives, helping improve model accuracy.
As not all data are for every chart that goes true with matrix charts as well. Let’s take some matrix chart examples below:
Another example of a Matrix Chart:
A Matrix Chart can help you identify the presence and strengths of relationships between two or more lists of items. Besides, it provides a compact way of representing many-to-many relationships of varying strengths.
Use this chart to analyze and understand the relationships between data sets.
The type of data you can visualize using this chart type includes:
The relationships between items are indicated by a number or color shade in the cell where each pair of elements intersect.
The Matrix shape you should use depends on the number of elements you want to compare.
Take a closer look at the chart above.
What do you see?
Notice this chart looks like a conjoined series of horizontal Bar Charts sharing x and y-axis charts. The horizontal length of the chart shows a decrease or increase in a variable. So a smaller bar shows a decrease in performance while a bigger bar shows growth in performance.
For instance, the chart above visualizes the relationship between variables (Central Plaza, China Town, Sea Avenue, Downtown, and Bistro Road) versus different variables (equipment, interior, and accessories).
Central Plaza incurs the highest costs in the category of interior and equipment when stacked up against other locations, such as Bistro Road and Downtown.
ChartExpo is a user-friendly add-in for Excel and Google Sheets that simplifies the process of creating matrix charts. With its intuitive interface, you can design professional-quality matrix charts in just a few clicks, saving time and enhancing data visualization.
ChartExpo’s customization options and ready-made templates make it a go-to solution for professionals and teams.
Well, there’s a highly affordable data visualization tool called ChartExpo capable of visualizing complex data using its massive library of charts, including Matrix charts.
This tool answers the question, of what is a Matrix Chart by providing you with a straightforward way to access them. Yes, you read that right. No beating the bush.
This highly affordable and easy-to-use data visualization tool comes as an easy-to-install add-on that integrates seamlessly with Google Sheets.
ChartExpo is a cloud-hosted add-on that transforms your Google Sheet app into a highly responsive data visualization tool.
Do you think that’s all? More surprises are in the pipeline.
This amazingly easy-to-use data visualization tool comes with over 50 chart templates to grant you a broader choice of visuals to select. With ChartExpo, you don’t need to know programming or coding. Yes, it’s as easy as brewing a cup of coffee.
No fancy stuff! Strictly fundamental and simple.
ChartExpo provides you unlimited freedom to customize your Matrix Chart.
Let’s head to the meaty part of the blog: the section where you get to practice what you’ve learned. Follow the simple steps below in preparation for the next section.
Now that you’re familiar with what is a matrix chart, let’s jump to the data storytelling section.
We’ll use the matrix chart to visualize a variety of data. Are you ready? Let’s hit the road.
Imagine you run a beauty product brand with physical locations in Arizona, Texas, Florida, and Nevada. You want to know the contribution of each of the aforementioned locations with regard to sales revenue.
The insights will help you in the allocation of the marketing budget. Essentially, you’ve planned to double down on best-performing areas and products to maximize profits.
Among the products in your inventory includes:
Let’s use the table below for our scenario.
| Products | Province | Period | Sales Revenue ($) |
| Nail polish | Florida | Current | 12814 |
| Nail polish | Texas | Current | 3054 |
| Nail polish | Arizona | Current | 4376 |
| Nail polish | Nevada | Current | 4229 |
| Eyebrow pencil | Florida | Current | 13012 |
| Eyebrow pencil | Texas | Current | 5067 |
| Eyebrow pencil | Arizona | Current | 3987 |
| Eyebrow pencil | Nevada | Current | 3932 |
| Rouge | Florida | Current | 11624 |
| Rouge | Texas | Current | 7004 |
| Rouge | Arizona | Current | 3574 |
| Rouge | Nevada | Current | 5221 |
| Lipstick | Florida | Current | 8814 |
| Lipstick | Texas | Current | 9054 |
| Lipstick | Arizona | Current | 4376 |
| Lipstick | Nevada | Current | 9256 |
| Eye shadows | Florida | Current | 12998 |
| Eye shadows | Texas | Current | 12043 |
| Eye shadows | Arizona | Current | 4572 |
| Eye shadows | Nevada | Current | 3308 |
| Eyeliner | Florida | Current | 12321 |
| Eyeliner | Texas | Current | 15067 |
| Eyeliner | Arizona | Current | 3417 |
| Eyeliner | Nevada | Current | 5432 |
| Foundation | Florida | Current | 10342 |
| Foundation | Texas | Current | 10119 |
| Foundation | Arizona | Current | 5231 |
| Foundation | Nevada | Current | 13701 |
| Lip gloss | Florida | Current | 22998 |
| Lip gloss | Texas | Current | 12043 |
| Lip gloss | Arizona | Current | 4572 |
| Lip gloss | Nevada | Current | 4008 |
| Mascara | Florida | Current | 11261 |
| Mascara | Texas | Current | 10419 |
| Mascara | Arizona | Current | 6134 |
| Mascara | Nevada | Current | 18712 |
Let’s power up the ChartExpo in Google Sheets to visualize the data.
Imagine you run a brand. Your margins have been declining in recent months. You think that renovations in various locations, namely Central Plaza, China Town, Sea Avenue, Downtown, and Bistro Road, are to blame for inflating the overall costs.
You have cost reports of the 3 costliest materials that are inflating your cost structure. They include:
Let’s use the tabular data below for our scenario above.
| Store | Material | Period | Cost ($) |
| Central Plaza | Interior | Current | 8261 |
| Central Plaza | Equipment | Current | 4810 |
| Central Plaza | Accessories | Current | 1537 |
| China Town | Interior | Current | 7875 |
| China Town | Equipment | Current | 3162 |
| China Town | Accessories | Current | 2019 |
| Sea Avenue | Interior | Current | 4990 |
| Sea Avenue | Equipment | Current | 4923 |
| Sea Avenue | Accessories | Current | 1472 |
| Downtown | Interior | Current | 4658 |
| Downtown | Equipment | Current | 2955 |
| Downtown | Accessories | Current | 1390 |
| Bistro Rd | Interior | Current | 3952 |
| Bistro Rd | Equipment | Current | 1858 |
| Bistro Rd | Accessories | Current | 917 |
Follow the easy and fun steps below. Ready? Let’s go.
When there are too many variables or data points, matrix diagrams can become cluttered, making it difficult to interpret the relationships effectively and leading to confusion.
Designing and organizing a detailed matrix manually can be a slow and tedious process, especially when working with large datasets, without the support of automated tools.
Matrix diagrams are static by nature and cannot capture changes over time or represent dynamic relationships, making them less useful for tracking evolving data or trends.
To interpret a matrix diagram effectively, users may need specialized knowledge or experience. Without this, extracting accurate insights from the matrix can be challenging.
Creating advanced or visually polished matrix diagrams often requires specialized software, such as ChartExpo, which may not be accessible to all users, limiting the flexibility and ease of use.
Matrix charts display connections between variables or categories in an organized grid format, making it easier to identify patterns and relationships across multiple dimensions.
By summarizing large datasets into a clear, structured layout, matrix charts make complex data more accessible, allowing for quicker understanding and easier analysis.
Matrix charts can be tailored for a range of purposes, including correlation analysis, decision-making, risk assessment, and task prioritization, making them highly versatile.
Matrix charts facilitate the comparison and analysis of different variables or scenarios, providing a foundation for informed decision-making and strategic planning.
The use of structured layouts, often with color coding, improves data interpretation by making key insights stand out, enhancing both clarity and visual appeal.
Matrix charts may struggle to represent highly detailed or hierarchical data, as they work best for summarizing relationships rather than in-depth analysis.
When dealing with too many variables or data points, matrix charts can become cluttered, making them difficult to read and interpret effectively.
Any misrepresentation or errors in the data input can lead to incorrect conclusions, highlighting the importance of accurate data entry.
Matrix charts may require a certain level of expertise to interpret correctly, especially when dealing with complex relationships or large datasets.
Creating advanced or visually polished matrix charts often requires specialized tools, like ChartExpo or Excel add-ins, which can limit accessibility for users without access to these tools.
Identify what you aim to achieve with the matrix diagram. Whether it’s analyzing risks, visualizing correlations, or making decisions, having a well-defined purpose ensures the diagram provides actionable insights and remains focused on the problem at hand.
Select and include only the variables most critical to your analysis. Avoid overcrowding the matrix with unnecessary data points, as this can lead to confusion and reduce the diagram’s effectiveness. Relevance ensures that your insights remain concise and meaningful.
Opt for the matrix type that best fits your requirements. For example, a SWOT Matrix works well for strategic planning, while a Correlation Matrix is ideal for statistical analysis. Choosing the correct format enhances both the utility and interpretability of your diagram.
Tools like ChartExpo simplify the creation of professional-grade matrix diagrams. These tools provide customizable templates, easy data integration, and visually appealing layouts, helping you save time and reduce errors in manual formatting.
Maintain a clean and straightforward design. Use consistent formatting, avoid excessive colors or labels, and focus on intuitively presenting data. Simplicity enhances understanding and ensures the matrix is accessible to all stakeholders.
A Matrix Chart can help you identify the presence and strengths of relationships between two or more lists of items. Besides, it provides a compact way of representing many-to-many relationships of varying strengths.
Use this chart to analyze and understand the relationships between data sets.
Unfortunately, you cannot visualize your data using a Matrix Chart in Google Sheets. And this is because it does not come loaded with this chart template.
To visualize your data using this simple and easy-to-read chart, supercharge your Google Sheets with the ChartExpo add-on.
What is a Matrix Chart? A Matrix diagram can help you identify the presence and strengths of relationships between two or more lists of items. Besides, it provides a compact way of representing many-to-many relationships of varying strengths.
You can create this chart by using the ChartExpo library and use this chart to analyze and understand the relationships between data sets.
In Google Sheets the ChartExpo add-on that’s incredibly easy to use and highly affordable to present your data with awesome visualizations.
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