Overview
Name: Varun Chandra Shekar StudentID: s4017549
Overview:
Trends Tab:
- The first line graph titled “From Cash to Digital: The Journey of
Payment Methods” illustrates the transition from traditional cash
transactions to various digital payment methods, including BPAY, credit,
debit, and others (e.g., internet banking, gift cards, cheques). Over
the years, there has been a notable increase in digital payments, with a
corresponding decline in cash usage.[1]
- The second line graph titled “The Generational Divide: Tracking
Payment Method Trends by Age Group” shows the trends by age group
highlights how different demographics have adapted to these changes.
Younger age groups, particularly those aged 18-29, show a higher
adoption rate of digital payments compared to older
demographics.[1]
- The stacked bar chart titled “Shifting Preferences: Payment Methods
by Category Over Time” shows the payment preferences across different
sectors such as bills, food retail, holidays, supermarkets, and
transport.[1]
Impacts Tab:
- The line graph shows the trend of COVID-19 cases, highlighting
significant peaks that coincide with increased digital transaction
adoption and decrease in usage of physical infrastructures of Banks and
ATMs.[2]
- The decline in ATM and bank branch closures across Australian states
(ACT, NSW, NT, QLD, SA, TAS, VIC, WA) is visualized, reflecting the
reduced dependency on physical banking infrastructure as digital
transactions become more prevalent.[3]
References
[1] Reserve Bank of Australia. (2024). Consumer Payments
Explorer. Reserve Bank of Australia. https://www.rba.gov.au/payments-and-infrastructure/consumer-payments-explorer/
[2] World Health Organization. (2024). COVID-19 Dashboard. World
Health Organization. https://data.who.int/dashboards/covid19/data?n=c&m49=036
[3] Australian Prudential Regulation Authority. (2024). Authorised
Deposit-taking Institutions Points of Presence Statistics. Australian
Prudential Regulation Authority. https://www.apra.gov.au/authoriseddeposit-taking-institutions-points-of-presence-statistics
[4] RStudio. (2023). Layouts in Flexdashboard. RStudio. https://pkgs.rstudio.com/flexdashboard/articles/layouts.html
[5] RMIT. (n.d). Chapter 10: Dashboards. https://rmit.instructure.com/courses/124254/modules/items/5978151