When to use a Bubble Chart
You have a third variable that adds weight, not precision
Revenue against margin sized by headcount; admission rate against applicants sized by class size. The size says "this one matters more" without needing to be read off a scale.
You want to show that big things behave differently
Bubble charts are good at revealing that the large entities cluster in one part of the space and the small ones somewhere else — a pattern a plain scatter plot leaves implicit.
You are plotting a moderate number of entities
Roughly ten to sixty bubbles is the sweet spot. Enough to see structure, few enough that the marks do not swallow each other.
You need one chart to carry a whole comparison
For a slide or an embed where you get a single picture, a bubble chart packs the most information per square inch of any standard chart type.