Rankings are a powerful feature of economic life, such that scholars foreground their constitutive aspects. Some go as far as to describe rankings as ‘engines’ that intervene in the economy. They are in seen in particular to encourage ‘mechanisms of reactivity’ amongst actors. This raises the question as to whether there are additional agential features of rankings beyond these ‘social’ accounts. We call for a greater focus on socio-material agency, in particular on the devices and equipment that surround, contain and make-up rankings. We discuss an influential visual ranking called the ‘Magic Quadrant’, which is a two-by-two matrix that ranks information technology (IT) vendors. We give attention to one particular feature of this ranking, the device of ‘the dot’, which has a bearing on the ranking’s constitutive capacity. We describe as ‘dot-ology’ the various aspects that go into the production and communication of this ranking as well as the implications that stem from it. In terms of the former, this is how the Magic Quadrant offers various affordances and constraints to those who produce it. As for the latter, we show how it has encouraged the development of a new visual and cyclical culture within the IT domain. Given there have been few, if any, detailed studies of the internal practices of ranking organizations this paper potentially contributes to a better understanding of the socio-material constitution of a prominent ranking. Our study is based on ethnographic observations and interviews conducted over a period of several years on one of the most highly influential of ranking organizations in the IT arena.