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Charting the opportunities

  1. As a sports fan, one data visualisation chart I’m seeing a lot more of is the ‘quadrant chart’. This is a scatterplot which groups different participants into one of four quadrants – it’s not trying to prove that one is better than another, it’s trying to demonstrate the differences between them.

A non-sports example is the Political Compass quadrant chart which illustrates where the political parties stand in relation to each other; here’s a version from a few weeks ago:

I mention this here because it’s an excellent starting point for those of us who are trying to analyse and understand where our business sits in relation to the competitors. Take two parameters, such as price, perceived quality, some aspect of performance or whatever, and it should be possible to rate each business and then position them on the chart.

Which areas of the chart are empty or sparsely populated? Is this because it’s a combination that isn’t wanted? Or is it an opportunity?