Scatter charts, put simply, are used for plotting data that is specified in the form of multiple parameters. In these charts both Y and X axes come with numeric values. This indicates that the position of any type of data point that suggests the co-existing spot for two prominent numbers. It makes it quite easy for users to study data off any scatter chart, particularly when viewers can gauge the relationship between the X and the Y axes. Read on and find out how a scatter chart can be useful for brands in market analysis. Various kinds of marketing analysis Different forms of marketing analysis can be done with the help of a scatter chart. For example, a company that makes TV sets and wants to decide about the connection between the types of its products chosen by consumers and the income group of the customers. Consumers from high income groups can choose models that come at 9,000 USD or even more, whereas those from low income groups can be content with those that come at less than 1,000 USD. The marketing analysts of the company can visualize this type of data in the chart and take decisions on how their promotional campaigns can be directed for better revenue generation. For example, a Facebook campaign that targets consumers from low income group can improve sales and revenues in that section, whereas putting an ad in high-end television or prominent lifestyle magazines can offer better results. The regular use of scatter charts can help brands to make better analysis of the market and identify potential profit-making segments that can bring in more revenues for them. It can help them in creating more streamlined campaigns for promotion. Better budget allocation A scatter chart can assist in fast identification of the biggest value concentrations when it comes to the variables showcased by the X and the Y axes. In the instance mentioned above, it can assist the management in understanding quickly the section that brings in the maximum revenues and even those that can do better with some assistance. It can also assist the company in better allocation of budget, as well as eliminating or reducing the wasting of investments on the promotion of items in segments that are not performing too well. Microsoft SharePoint and other collaboration platforms are used frequently by brands for the use and management of business data. When you use SharePoint to create a scatter chart, it is a good idea that you use a 3rd party chart web part. A number of amazing web parts is available, which can make the chart creation process much easier. This can take away the need for writing codes for chart generation, letting users group, sort or filter data. Users can also customize captions for making charts more convenient to understand. Major chart web parts can also let users draw important insights from the data with the assistance of charts, and allow them to make business decisions much better in the future.