economics

29 posts
Message-first visualization

Sneaky Pete via Twitter sent me the following chart, asking for guidance: This is a pretty standard dataset, frequently used in industry. It shows a breakdown of a company's profit by business unit, here classified by "state". The profit projection for the next year is measured on both absolute dollar terms and year-on-year growth. Since those two metrics have completely different scales, in both magnitude and unit, it is common...

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McKinsey thinks the data world needs more dataviz talent

Note about last week: While not blogging, I delivered four lectures on three topics over five days: one on the use of data analytics in marketing for a marketing class at Temple; two on the interplay of analytics and data visualization, at Yeshiva and a JMP Webinar; and one on how to live during the Data Revolution at NYU. This week, I'm back at blogging. McKinsey publishes a report confirming...

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Plotted performance guaranteed not to predict future performance

Kaiser Fung (Junkcharts, Principal Analytics Prep) finds a chart on French financial instruments conveys a misleading message on relative returns while failing to describe the relative risks.

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Crazy rich Asians inspire some rich graphics

On the occasion of the hit movie Crazy Rich Asians, the New York Times did a very nice report on Asian immigration in the U.S. The first two graphics will be of great interest to those who have attended my free dataviz seminar (coming to Lyon, France in October, by the way. Register here.), as it deals with a related issue. The first chart shows an income gap widening between...

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Crazy rich Asians inspire some rich graphics

Kaiser Fung (Junkcharts, Principal Analytics Prep) examines several charts made by New York Times on income distribution among Asian Americans, as the hit movie Crazy Rich Asians dominates the U.S. box office in September.

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Big Macs in Switzerland are amazing, according to my friend

Note for those in or near Zurich: I'm giving a Keynote Speech tomorrow morning at the Swiss Statistics Meeting (link). Here is the abstract: The best and the worst of data visualization share something in common: these graphics provoke emotions. In this talk, I connect the emotional response of readers of data graphics to the design choices made by their creators. Using a plethora of examples, collected over a dozen...

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Two good charts can use better titles

NPR has this chart, which I like: It's a small multiples of bumps charts. Nice, clear labels. No unnecessary things like axis labels. Intuitive organization by Major Factor, Minor Factor, and Not a Factor. Above all, the data convey a strong, surprising, message - despite many high-profile gun violence incidents this year, some Democratic voters are actually much less likely to see guns as a "major factor" in deciding their...

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The downside of discouraging pie charts

It's no secret most dataviz experts do not like pie charts. Our disdain for pie charts causes people to look for alternatives. Sometimes, the alternative is worse. Witness: This chart comes from the Spring 2018 issue of On Investing, the magazine for Charles Schwab customers. It's not a pie chart. I'm forced to say the pie chart is preferred. The original chart fails the self-sufficiency test. Here is the 2007...

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Two thousand five hundred ways to say the same thing

Wallethub published a credit card debt study, which includes the following map: Let's describe what's going on here. The map plots cities (N = 2,562) in the U.S. Each city is represented by a bubble. The color of the bubble ranges from purple to green, encoding the percentile ranking based on the amount of credit card debt that was paid down by consumers. Purple represents 1st percentile, the lowest amount...

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Digital revolution in China: two visual takes

The following map accompanied an article in the Economist about China's drive to create a "digital silkroad," roughly defined as making a Silicon Valley.  The two variables plotted are the wealth of each province (measured by GDP per capita) and the level of Internet penetration. The designer made the following choices: GDP per capita is presented with less precision than Internet penetration. The former is grouped into five large categories...

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