Data is essential for business operations because it is what allows businesses to understand their customers, track their progress, and make informed decisions. Data is also necessary for marketing and advertising, which is essential for any company looking to grow.
Businesses use data to get a better idea and profile of their customers. By understanding who their customers are, what they want, and how they behave, businesses can create products and services that appeal to them. They can also target their advertising and marketing to reach the right people. Additionally, data is essential for tracking progress. By tracking data, businesses can see what is and isn’t working. They can identify successes and failures and learn from them, which allows businesses to continually improve their products and services. Finally, data is necessary for making informed decisions. By understanding the data, businesses can see what is working and what isn’t. They can then make decisions that will help them reach their goals.
There are a variety of different ways that businesses can make sense of their data, and one of the most popular methods is through data visualization. This involves taking all of the data that a business has collected and presenting it in a way that is easy to understand and analyze. This can help businesses to identify trends and patterns that they may not have been able to see before. Data visualization can be done in a number of different ways. One of the most common ways is to create graphs and charts, including bar graphs, line charts, scatter plots, pie charts, and bubble graphs. Continue reading to learn more about bubble graphs and how to use them to analyze data.
What is a bubble graph?
A bubble graph is a graphical representation of data in which the size of the circles (bubbles) is proportional to the magnitude of the data. The circles are placed on a grid, and the grid is used to indicate the relative position of the circles, which allows for the easy identification of outliers and trends in the data. The data can be plotted on a number of different axes, including time, money, or quantity.
The history of bubble graphs can be traced back to the early 1800s when a mathematician named Charles Joseph Minard created a now-famous diagram depicting the losses and gains of the French army during the Napoleonic Wars. This diagram used small circles to represent the size of the army at different points in time, and it is considered to be one of the earliest examples of a bubble graph. However, bubble graphs didn’t gain much popularity until the late 1990s when they were used by researchers to visualize stock market data. In the early 2000s, bubble graphs started to be used by business analysts to track the performance of companies, and in recent years, they have been increasingly used by journalists and bloggers to visualize data about a wide variety of topics.
How do you use a bubble graph to analyze data?
Bubble graphs are used to visualize trends and relationships in data, such as displaying data that is broken down by category. The circles can be placed in different colors to indicate the different categories. Bubble graphs can also be used to compare data. For example, you could compare the sales of different products in different years. Further, bubble graphs can also be used to show trends. For example, you could use a bubble graph to show how the number of people who have a particular disease has changed over time.
A bubble chart is a versatile tool that can be used to display a variety of data. There are a few ways businesses can take advantage of bubble charts. The first is to use bubble charts to display data about their customers. This could include data about customer demographics, buying habits, or preferences. This information can help businesses better understand their customers and create marketing strategies that target specific demographics.
Another way businesses can use bubble charts is to display data about their products. This could include data about sales, market shares, or customer feedback. This information can help businesses make better decisions about which products to produce and how to market them.
Bubble charts can also be used to display data about competitors. This could include data about market shares, sales, or product offerings. This information can help businesses understand how they compare to their competitors and make decisions about how to compete.
What are the best practices when creating a bubble graph?
To create a bubble graph, you will need a data set and a software program that can create graphs, such as Microsoft Excel or Google Sheets. First, open your software program and create a new spreadsheet. Enter your data into the spreadsheet and select the data you want to graph. Select a chart type that allows for multiple data sets, such as a bubble graph. The software will create a graph based on your data. Adjust the settings, such as the size of the bubbles and the gridlines, to make the graph easier to read. Save the graph as a PDF or image file.
When creating a bubble graph, there are a few best practices to follow in order to ensure that your data is well represented. First, make sure that your data is correctly formatted. Your data should be formatted in a way that is easy to read and understand. The data should be arranged in columns, and each column should represent a different attribute of the data. Then, choose the right type of bubble graph. There are a few different types of bubble graphs that you can choose from, and the type of graph that you choose will depend on the type of data that you are trying to represent. Next, align the bubbles correctly. The bubbles in your graph should be aligned correctly so that the data is easy to read. Be sure to use the right size for the bubbles. The size of the bubbles in your graph should be appropriate for the data that you are trying to represent. If the bubbles in your graph have different colors or sizes, you should use a legend to explain the meaning of the bubbles. Finally, there should be a title that explains the purpose of the graph. Use this article as a guide to make sure your bubble graph is representing your data correctly for proper analysis.
Arslan Fazal is a student of the Aust Abbottabad University of Science and Technology. He started his graduation in 2016 and graduated in 2020. I’m a professional article and blog writer, has written dozens of content on different topics and worked with professionals all over the globe. Feel free to contact me for any assistance. [email protected]
Great Resignation: How to beat Great Resignation with Employee Experience
The world was forever changed in late 2019 when the Coronavirus made its appearance. Countries shut down. Streets were empty. Companies held as best they could or were forced to close their doors. Many would believe that such an event would lead to employees wanting to hold on to their jobs. Typically, large numbers of resignations signify a good economy and abundant availability of jobs allowing people to follow passions instead of necessity.
Post-COVID employee experience is much different.
For two years, and some a bit more, people were forced to spend time alone, realigning the importance of human interaction, well-being, and happiness. This drive for more personal fulfilment, satisfaction, and growth stemmed The Great Resignation.
No longer were employees basing staying with jobs out of need or comfortability. Now they look for work-homelife balance, greater satisfaction and better employee experiences, or they will leave. So how do companies face this? How do they increase employee retention and improve employee engagement?
The secret is in employee experience.
Holistic Employee Experience
There are, of course, no quick fixes for the Great Resignation, small wins can motivate and drive longer-term goals for your organization. The Great Resignation—and COVID by extension—taught many employees that life meant so much more. That the daily grind working in offices with long commutes, stress, lack of rest or relaxation, and the hustle of strenuous work weeks while normal was not conducive to happiness and mental well-being.
But this shift can be used as a blueprint for better employee experience!
Companies who work on being human-centric in ideals, strategies, and decision-making can improve greatly their chances of stemming mass exodus. Post-covid employee experience is now the new golden standard, and it looks at taking a more comprehensive and holistic view of experiences.
How can you be more holistic and how does it help?
- Think beyond probationary periods – Your employees are more important than the first 30, 60, or 90 days of employment, and yet many companies stop professional development and training after these dates. Normalize career growth, evaluations, employee 360 reports, and feedback loops to keep learning and advancement in the scope of your employees. While doing this, you’re also keeping your strategies and Key Performance Indicators—KPIs—fresh as you go.
- Communication is key – Talk to your employees about what they need, want, desire, and what their ambitions may be. Learn your people like you want them to learn your company. With transparent and open communication, you are engaging with your employees and creating an environment of consistency, openness, and inclusion—aspects employees’ desire.
- Employee-centric Corporate Culture – It may seem like the best idea is to center your company culture around the company’s values, vision, and strategies, but this is only half the battle. Integrating employee experience into the fabric of company culture ensures the company is as focused on their employees’ happiness as their own. It creates a bond to grow engagement, which has an effect on employee satisfaction and experience. As these rates increase, so to can employee retention numbers and customer experiences.
- Life and work-balance Erasure – Should your employees have to ask for more work-life balance? No, they shouldn’t. When built directly into work environments or expectations, it becomes something standard instead of something to be sought after. Examples of this could be:
- Flex hours
- Unlimited PTO
- Work-from-home or hybrid offerings
- Expanded benefits to include mental health and free resources
- Altered work hour schedules
Rise of Human Experience
Human Experience is a viewpoint that blends aspects of customer experience with employee experience, important in a post-COVID world. Instead of viewing them as separate entities entirely, companies can connect metrics and measurements of both to view a more comprehensive experience. Employees are customers—or potential ones—and as such, so too can customers become employees. With this view, it refocuses employee experiences in direct answer to the needs stemming The Great Resignation.
Ways you can use CX strategies within EX:
- Employee Journey Mapping – Like in customer experience, companies can work on mapping journeys for positions within the company overall, building in professional development and growth from the outset. They can then alter these journeys through personalization when an employee fills that role.
- Monitoring metrics – connect goals, milestones, and trajectories with metric directly linked to KPIs. Think employee net promoter score (eNPS), employee experience (EX), employee satisfaction (ESAT), and employee engagement (EE), for example, as they can correlate with operational success as well as customer success with your organization.
- View of employees – view your employees with the importance you view your customers. You cannot survive without either, and just as you court customer loyalty for more profitable relationships, so to can employee relations boost revenue, growth, and expansion.
Remote and Hybrid Work
One of the lasting effects of COVID was the desire to work from home or have the flexibility to. According to Gallup, nearly half of full-time working Americans—45%—are still working remotely. White collar workers have even higher percentage, coming in at 70%. After the shutdown, many leaders were surprised to find employees still wanted to work remotely. The Pandemic exposed an internal need for conducive work environments and flexibility.
The office and all it entailed wasn’t as attractive as some leadership believed.
It was agile leadership who switched to maintaining remote or hybrid options who won out against competitors. Record job openings only further highlight how living is more important, and work can no longer be focused on only paying bills. Organizations who shift better with their employees retain talent better.
Remote work is not the only fix, but it does show how views of work’s place have vastly changed.
Act on Meaningful Feedback
Closing the loop between you and your employees is more important than ever before. Simply hearing them is not enough. Active, empathetic listening pair with actions on a consistent basis is the wining combination. Employees not only want to know they are heard but that their input is valued.
Regularly checking in with your employees, and not only attaching it to their performance, creates a culture of partnership.
Ways to gain meaningful feedback to inspire data-driven action:
- Employee 360 Review [LN1] [SP2] – not to be confused with an employee evaluation, the 360-degree review is a way for all employees to gain feedback from peers, subordinates, and managers to assist employee self-evaluation.
- Pulse checks – a powerful anonymous survey tool. Pulse checks are in between annual reviews and keep the feedback coming for HR initiatives, but it can also inform business strategies that are employee-focused as well.
- Surveys – From satisfaction to engagement, the best thing you can do is ask your employees. Working from assumptions can lead you down costly mistakes. By asking directly you can get their true opinions—think of using anonymity to influence candid responses.
The biggest takeaway from this is: employee experiences is an important part of operational success. The evolution of its importance and what it means cannot be discounted. Doing so can led to higher employee turnover rates and you won’t retain your best talent. As employee experience continues to change, the forward-thinking companies with innovative leadership will make it to the top.
[LN1]Would it be okay to tag our template here?
Yes, we can [SP2]
Khalil ur Rehman is a proud born and raised in Abbottabad. Khalil has worked as a journalist for nearly a decade having contributed to several large publications including the Yahoo News and The Verge. As a journalist for The Hear Up, Khalil covers climate and science news. [email protected]