Quote from ArchAngel:
On a bubble chart, the bubble is plotted like a scatter diagram using X and Y and the size of the bubble is derived from the third variable. Use the Excel chart wizard to initially configure it.
We used to even do 4D bubble charts using color to encode the 4th value.
Bubbles work if you have two variables that can be representative of X/Y coordinates (as in a scatter) and a third parameter that is value oriented.
If you actually have three values that are representative of XYZ spatial coordinates, then you'd need to use a 3D scatter diagram.
If you told us the specific kind of data you're trying to chart instead of generalities, it would be easier to give you a more specific suggestion.