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Data Visualization for Analyzing Macroeconomic Indicators |
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PP: 125-135 |
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doi:10.18576/jsapl/100301
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Author(s) |
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Sujata Suvarnapathaki,
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Abstract |
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| Data visualization is used for representing data in a visual format, such as charts, graphs, and maps. This helps in the interpretation of trends and patterns in the data and the identification of outliers. It also enables businesses to communicate complex data to non-technical individuals easily. Data visualization methods such as Box plots, Scatter plots, Bubble charts, Motion charts and Rain cloud charts can be used to represent different data types. Macroeconomic indicators are important measures of the overall health of the economy. The indicators, such as Gross Domestic Product (GDP), Inflation Rate and Stock market Indices can provide insights into the performance of the world economy. The analysis and interpretation of these indicators help the policy-makers/traders, make informed decisions on investments and other Strategic initiatives based on the current state of the economy. This research paper has discussed the use of data visualization techniques to analyse macroeconomic indicators, such as Gross Domestic Product (GDP), inflation rate, stock market indices (Nifty50) on the National Stock Exchange of India, DJI-Dow Jones Index on the United States Stock Exchange, DAX- Deutscher Aktien Index on the Frankfurt Stock Exchange), and precious metal rates (Gold and Silver). The data were collected for the above indicators for the past five years (2018-2022). It has also highlighted the importance of data Visualization in decision-making, problem-solving and investment strategies.
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