Introduction

• “Story Telling with Open Data” can be considered a popular way of presenting any kind of data with all the segments of visuals, texts as well as data visualization.

• As opined by Liem et al (2020), a well-traditional structure of storytelling can help a lot in visualizing any kind of data and make it understandable for everyone. “Cost-of-living crisis/inflation” can be segmented as the measure of the stack of the rising factor of goods that can be considered as the basic daily needs (Brewer et al., 2021).

• This segment will be elaborated in this presentation with a thorough data visualization process based on the country “Australia”.

• In terms of visualizing the data and ensuring the compliance of the storytelling process, here in the presentation the dataset of CPI has been used in this scenario.

• From the attached graph the process of visualization of the data as well as the story telling process will be completed effortlessly.

Overall CPI Trends

In this slide a through visualization has been done in terms of visualizing the “Overall CPI Trends” in the country “Australia”. The visualization shows the changes of “CPI Trends” in the percentage value among the “Previous Quarter”. From this visualization process the matter can be signified that the percentage of “2.1” is the pick point of the “CPI Trends” pattern. Where the second highest stack can be justified as “1.9%” in the same scenario in “Australia”. In the same way “1.8%”, “1.6%”, “1.4%” and “1.3” can be justified as some of the high points of “CPI Trends”. Although “-0.2%” is the lowest stack of the “CPI Trends” in “Australia” as per the evaluated data.

CPI by Goods and Services

In this slide the visualization process has been considered based on the data regarding “CPI by Goods and Services”. This process has shown the percentile value of the “Annual Movement” of “CPI by Goods and Services” based on several years. The visualization shows that the highest percentage of the “Annual Movement” is “9.6” based on time. In the same way, “9.5%”, “8.4%”, “7.6%” and “6.6%” can be justified as some of the higher stack of “Annual Movement” of “CPI Goods” in “Australia”. In the same scenario “-0.3%” can be justified as the lowest percentage of “CPI Goods” in “Australia”.

Overall Rent Trend in Sydney

In this slide the visualization process has been done based on the data of “Overall Rent Trend in Sydney” based on the different scenario of time. The procedure has been done based on the percentile value of each data group. The Figure shows the overall trend of rent in “Sydney” that has been done from several data based on different time span. Such as for “Jun-14” it is “3.0%”, for “Sep-14” the amount is “3.2”, for “Dec-14” “3.2%”, for “Mar-15” “2.9%”, for “Jun-15” “2.5%”, for “Sep-15” “2.5%”, for “Dec-15” “2.3%”, for “Mar-16” “2.3”, for “Jun-16” “2.2%” and for “Jun-24” its “8.1%”. The highest change has occurred in “Mar-24” which was about “8.9%”. The lowest change has occurred in “Sep-20” which was about “-3.1%”.

Overall Rent Trend in Melbourne

In this slide the visualization process has been done based on the dataset of “Overall Rent Trend in Melbourne”. This visualization represents the percentile changes of overall rent trends over the times in Melbourne. The Figure shows the rent trend of “Melbourne” from which multiple data can be visualized regarding the rent trend. Such as for “Jun-14” it is “1.7%”, for “Sep-14” the amount is “1.9”, for “Dec-14” “2.4%”, for “Mar-15” “2.5%”, for “Jun-15” “2.5%”, for “Sep-15” “2.5%”, for “Dec-15” “2.3%”, for “Mar-16” “2.3”, for “Jun-16” “2.2%” and for “Jun-24” its “8.1%”. The highest change has occurred in “Mar-24” which was about “8.9%”. The lowest change has occurred in “Sep-20” which was about “-3.1%”.

Overall Categories Changes

This slide represents the price changes in food and non-alcoholic beverages in “Australia”. The time span of “Jun 2023” to “Jun 2024” has been selected for the visualization process. The Figure shows that the visualization has been done based on multiple segments of food and beverages such as “Bread and Cereal Product”, “Dairy and Related Products”, “Food and Non-alcoholic Beverages”, “Food Products n.e.c”, “Fruit and Vegetables”, “Meat and Seafoods” and “Non-alcoholic Beverages”. This visualization shows that the segment of “Dairy and Related Products” is way too high from the other segments of products in “Australia”.

Weighted Average CPI Changes

In this slide the visualization of “Weighted Average CPI Changes” has been done based on the change of the percentile values. The figure shows the percentile changes of the “CPI Goods” from several groups. The percentage change of the “Food and non-alcoholic beverages” from the previous quarter can be justified as “1.2”. For the group “Alcohol and tobacco” it has been changed to “1.5%”. For the group “Clothing and footwear” the change can be justified as “3.1%”. For “Housing”, “1.1%” changes have been made. For the group “Furnishings, household equipment and services”, “0.8%” changes occurred. And for the groups “Health”, “Transport”, “Communication”, “Recreation and culture”, “Education” and “Insurance and financial services” the changes of “1.5%”, “0.9%”, “-0.8”, “0.5”, “0.2” and “1.2” have occurred in “Australia”.

Recommendation

In this slide the visualization process has been done based on the “Recommendations for Economic Policy Changes” of Australia. The Figure shows all the recommendations that can be implemented for making changes in the economic policy of “Australia”. Multiple segments can be recommended in this process such as “Monitor housing market closely”, “Support affordable housing initiatives”, “Encourage competition in services sector” as well as “Promote sustainable grocery practices”. From the visualization the matter can be stated that the recommendation of “Monitor housing market closely” has the highest level of importance where in the same segment the recommendation of “Promote sustainable grocery practices” has the lowest level of importance.

Conclusion

• In conclusion the matter can be stated that the visualization and storytelling process generates a lead role in the segment of making a clear understanding about the CPI in “Australia”.
• This process made clear visualization of several segments such as “Overall CPI Trends”, “CPI by Goods and Services”, “Overall Rent Trend in Sydney”, “Overall Rent Trend in Melbourne”, “Overall Categories Changes”, “Weighted Average CPI Changes” as well as “Recommendations”.
• From this process the trending patterns as well as the changes that has been occurred from the previous years can be encountered and understood effortlessly that can be stated as the beneficial fact in terms of understanding the cost of living in “Australia” and its inflation at the same time.

Reference

Australian Bureau of Statistics (2024) Consumer Price Index, Australia, June quarter 2024. [Retrieved from: https://www.abs.gov.au/statistics/economy/price-indexes-and-inflation/consumer-price-index-australia/latest-release#data-downloads] [Retrieved on: 19.10.2024]

Liem, J., Perin, C., & Wood, J. (2020, June). Structure and empathy in visual data storytelling: Evaluating their influence on attitude. In Computer Graphics Forum (Vol. 39, No. 3, pp. 277-289). [Retrieved From: https://hal.science/hal-02861224/document] [Retrieved on: 19.10.2024]

Brewer, Mike, Adam Corlett, Karl Handscomb, and Daniel Tomlinson. “The living standards outlook 2021.” Resolution Foundation (2021). [Retrieved From: https://nen.press/wp-content/uploads/2023/01/Living-Standards-Outlook-2023.pdf] [Retrieved on: 19.10.2024]