Marimekko charts, also known as Mekko charts, are one of the most influential tools in the data visualization field. They’ve found wide usage in various sectors, including the business and marketing realms. They not only offer a detailed perspective on data but also grant a remarkable level of ease in comparing distinct units. Below, we’ll delve deeper to understand the usage, implications, and creation process of Marimekko charts better.
Understanding the Concept of Marimekko Charts
The Marimekko chart, widely known for its versatility, are two-dimensional visual representation of data. These bar-meets-area charts offer a detailed and layered view of data. Consisting of variable-width columns and variable-height blocks, they represent two sets of data on two axes, thereby providing a comprehensive understanding of the information. This form of data representation is particularly useful when there’s a need to show volume and variation together.
In a typical Mekko chart, the width of the columns represents one data set, while the height represents another data set. Each block within the column represents a subgroup or a subset of the main set. This arrangement paints a detailed microscopic view and a macroscopic overview simultaneously, making it an excellent tool for intricate data analysis.
A Marimekko chart can be useful when dealing with multiple categories and subcategories in information. Given the complex nature of today’s data, with multiple variables and factors, it becomes crucial to structure it for easy comprehension. This is where a tool like a Mekko chart comes in handy as it makes it possible to understand several variables all together in a simple, structured manner.
Importance of Marimekko Charts in Business
Mekko charts enjoy a significant presence in the business world due to their capacity to show a large amount of detailed data in a comprehensible manner. Such charts are particularly crucial for demonstrating market share and competition. They offer a quick yet detailed overview of the business’s situation concerning its competitors.
Moreover, these charts can help demonstrate the distribution of resources, such as comparing the productive capacities of different branches of a company. By looking at a Marimekko chart, one can immediately realize which aspect is thriving and which is lacking. This form of insight is invaluable for informed decision-making.
In sales and marketing, Mekko charts provide an in-depth understanding of market segments. They effortlessly display the product sales across different segments, allowing teams to identify which products are performing well or needing attention. This level of detail aids in product planning and marketing strategies.
Constructing a Marimekko Chart: The Basics
Creating a Marimekko chart begins with understanding the data to visualize. An efficient Mekko chart should clearly segregate the data and depict the relationships between them. The width of the columns should be proportionate to the overall relevance of the respective data set, likewise; the individual blocks’ height should represent their significance within that set.
Color coding proves to be vital in enhancing the readability of the Mekko chart. Warm and cool colors can be assigned to different data sets to make distinctions clear and intuitive. However, users must avoid using too many colors as it can lead to confusion.
Finally, an efficient Marimekko chart should have clear, descriptive labels. The labels should explain the categories and subcategories depicted on the axes, as well as the relationship between them. It ensures the information on the chart is quickly and accurately interpreted.
Overall, the value of Marimekko charts in today’s data-intensive fields is unprecedented. These unique, multidimensional visuals provide a high level of detail and versatility, making them a preferred tool for various professionals. Whether you’re a business strategist, marketer, or data scientist, an understanding of Marimekko charts can aid in gathering valuable intelligence from complex data.
Additional Info
Mekko and Marimekko Charts: Explained
Both Mekko and Marimekko charts are powerful tools used in business analysis, especially for market segmentation and competitive analysis. They are sometimes used interchangeably, but here’s how they differ and relate:
What is a Mekko Chart?
A Mekko chart (short for “Marimekko chart”) is a 2-dimensional stacked bar chart where:
- The width of each column represents one variable (e.g., market share, revenue by region).
- The height of segments within each column represents another variable (e.g., revenue by product category within the region).
It allows you to visualise multiple variables at once, which makes it great for understanding both size and composition.
What is a Marimekko Chart?
“Marimekko chart” is just another name for a Mekko chart; they’re the same thing.
The term comes from the Finnish design company Marimekko, known for bold and colourful patterns, which the chart’s layout loosely resembles.
When to Use a Mekko/Marimekko Chart
- Comparing market segments by size and composition.
- Visualising portfolio diversity across business units.
- Showing contributions to the total across two dimensions.
Example
Imagine a chart showing market revenue by country and brand:
- Each column width = country’s share of global market revenue.
- Each column segment height = brand’s share of revenue within that country.
Tools That Support Mekko Charts
- Excel: Does not support natively, you need add-ins (e.g., Mekko Graphics).
- Power BI: With custom visuals.
- Tableau: Can be made using calculated fields.
- Mekko Graphics: A dedicated tool for creating Mekko charts (add-on for PowerPoint).