Two by two matrices are a popular tool rank options. Watch out when to use them though:
Do you actually have 4 distinct options that can be grouped according to 2 axes? Many situations have only 3 options, where the 4th option that is suggested by your framework is actually not meaningful in reality.
If you pass the first test, make sure you set the axes right: the most favourable scenario in the top right, the least attractive options in the bottom left, the other two the “can’t have the best of both world” scenarios.
Below is an example of a 2x2 used in an article about software lock-in I stumbled across. Flipping the axes makes the diagram a lot clearer.
The original diagram
I quickly created reworked the axes in a SlideMagic 2.0 diagram below:
