What is 'By Category' under the Conversation Timeline?

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Conversation Timeline by Category displays the categories such as Competitor, Feature, Playbook, Value, Pricing, Timeframe, and Other in the monthly conversations that have taken place for the particular deal. These categories are also color-coded as shown above. 
For instance, let us consider the Category Competitor. The color code for Competitor is blue. The vertical blue bars represent Competitors that were mentioned in the email conversations that have occurred for the particular deal.
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Clicking each vertical bar displays the Channel, subject of the email, Other details, and Sentiment if available for the same. 
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Clicking on the email subject will direct you to the particular email conversation and hence the specific Competitor for the same as shown above.
The same procedure is applicable to all the other categories such as Feature, Playbook, Value, Pricing, Timeframe, and Other.