I want to create a hotspot map of incidents by City but I would like to weight it by population.
Is this possible in ArcGIS Online?
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You may want to take a look at the Interpolate Points, Hot Spot Analysis and Density layer under your analysis tools, read the in-line help for each of the tools to determine which one makes sense for your analysis.
I assume you have your 'population' attributed to your incidents layer and can use this as your weighting. Note you can use the geoenrichment tools to calculate the population for your incidents. Note you can also apply normalisation using a separate variable (your population variable) without performing a separate field calculation if that is also what you are trying to achieve. Weighting implies you want to give your incidents more "weight" or influence on the result based on the population, whereas normalising by population would be to minimise differences in values based on the population.
Here I have some mock data for incidents within a city with a performance variable tied to them.
From the analysis tools, I can create a density map and feed in the performance variable as the weighting. This could be your population variable. You can optionally specify search distance and number of classes to break density result into and classification method and also clip it to an area of interest.
This creates a new layer. You can then change the symbology classification, filter the results, etc.
In this case, the city center banks are not only in closer proximity to neighbouring banks, but they also make more profit (my weighted variable) therefore the density map favours these banks.
You can specify more classes and smaller search distances depending on your requirements.