What is a Matrix Chart: Step by Step Guide on How to Visualize Matrix Data?

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:

• What is a Matrix Chart?
• Matrix Chart Examples
• When and why should you use a Matrix Chart?
• What’s The Best Visualization Tool to Create a Matrix Chart?

What is a Matrix Chart?

This blog will walk you through an expert perspective of a Matrix diagram, how you can deploy them in your data story like a pro, and the best tools to visualize your data using the chart. You’ll also come across tons of Matrix chart examples to help craft compelling data stories.

If you’re a project manager or a professional working with data, you don’t want to miss this section.

We’ve rounded up some proven and tested tips on how best you can deploy a Matrix Chart to create an amazingly immense buy-in for your story.

Charts used in this blog have been created by using ChartExpo data visualization library.

Matrix Chart Examples

As not all data are for every chart that’s goes true with matrix chart as well. Let’s take some matrix chart examples below:

Another example of 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:

• Data
• Functions
• Concepts
• People 
• Materials
• Equipment
• Actions and much more

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 depend on the number of elements you want to compare.

How to Read a Matrix Chart

Take a closer look at the chart above.

What do you see?

Notice this chart looks like conjoined series of horizontal Bar Charts sharing x and y-axes 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 of 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.

When and why should you use a Matrix Chart?

Use a Matrix Chart whenever you need to identify and assess the relationships between two or more variables.

If you have data fall in either category below, use this chart to make your data story irresistible and compelling.

• Causal-effect data
• Matching requirements with specifications
• Resource allocation
• Comparison of viable strategies
• Identification of opportunities for improvement
• Review of project requirements versus deliverables
• Subcategories analysis is easy

 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:

• Make better decisions
• Solve problems
• Improve processes

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.

So what are the building blocks of a matrix Diagram?

Why Do a Matrix Chart Matters to You?

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.

What’s The Best Visualization Tool to Create a Matrix Chart?

Let’s talk about Google Sheets because it’s one of the popular tools for visualizing data around. Besides, this spreadsheet tool is a close buddy of most project managers and other professionals that work with data.

Google Sheets

Google Sheets is just like an online version of Excel. And it comes loaded with a handful of charts to help you create a data story. More so, it comes with a user interface that’s easy to use.

Access to this tool is free. All you need is to sign up for a free Gmail account for your emails.

Can you use Google Sheets to visualize your complex data using a Matrix Chart?

Unfortunately, you cannot visualize your data straight forwardly using a Matrix Chart in Google Sheets. And this is because it does not come loaded with this chart template.

Well, the solution is not to dump your beloved spreadsheet app courtesy of Google. No, we’re not advocating that at all. The solution is to supercharge it with an add-on. This add-on will transform Google Sheets into a reliable data visualization tool.

Stick a little longer to discover the solution.

What’s the Solution?

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, 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.

How to Create Data Stories Using Matrix Chart Examples

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.

  1. Sales Analysis

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:

• Nail polish
• Lipstick
• Eyebrow pencil
• Eye shadows
• Eyeliner
• Foundation
• Lip Gloss
• Mascara

Let’s use the table below for our scenario.

Let’s power up the ChartExpo in Google Sheets to visualize the data.

• Click Add–ons > ChartExpo > Open and then PPC Charts.
• Look for Matrix Chart.
• Select Sheet Name (sheet holding your data).
• Click Add new metric and select the Column with numerical value Sales revenue.
• Click Add New Dimension button and then select cosmetic products, State, and period.
• Click on Create Chart……You’ll have your insightful and easy-to-read Matrix chart, as shown below.

Insights

• Mascara is performing well in the following markets: Arizona and Nevada.

• The best performing location is Florida: More marketing budget should be diverted to this location to maximize the revenue.
• Almost all the product lines in Florida are performing exceptionally well compared to other locations.

• The least profitable product for the cosmetic brand is

  2. Cost analysis

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. And they include:

• Accessories
• Equipment
• Interior

Let’s use the tabular data below for our scenario above.

Follow the easy and fun steps below. Ready? Let’s go.

• Click Add-ons > ChartExpo > Open and then PPC Charts.
• Look for Matrix Chart.
• Select Sheet Name (sheet holding your data).
• Click Add new metric and select the Column with numerical value Cost ($).
• Click Add New Dimension button and then select material, store, and period.
• Click on Create Chart. Check out our insightful and easy-to-read Matrix chart, as shown below.

Insights

• Central Plaza is the costliest store to operate.

• Bistro Road is the most profitable store to run because it has lower costs than other locations.

• Interior materials are the costliest of the materials needed for store renovation.

FAQs:

What is a Matrix Chart used for?

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.

How can you create a Matrix chart in Google Sheets?

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 ChartExpo add-on.

Wrap Up

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 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.