Billionaires Statistics Analysis with Power BI
Objective
To analyze and visualize the distribution, sources, and impact of billionaire wealth globally, utilizing demographic and economic indicators, through Microsoft Power BI.
Project Phases
- Project Preparation
- Objective: Setup project environment and understand dataset structure.
- Tasks:
- Setup Microsoft Power BI.
- Import the "Billionaires Statistics Dataset" into Power BI. ? Familiarize with the dataset columns and types of data available.
- Data Preprocessing
- Objective: Clean and prepare data for analysis.
- Tasks:
- Identify and handle missing values and outliers.
- Ensure correct data types for analysis.
- Create new columns if necessary, for better analysis (e.g., wealth categories, age groups).
Hints: To create wealth categories use the DAX formula:
Categorizing Wealth into Ranges
Click on "New column" again to create another column for wealth categorization.
Use a DAX formula to define wealth ranges. For example:
Wealth Category =
SWITCH(TRUE(),table_name[finalWorth] < 1000>
table_name[finalWorth] < 10000>
Calculating Age from Birth Date
Go to the "Data" view by clicking on the table icon on the left side of Power BI Desktop.
Click on "New column" on the toolbar to create a new column.
Enter a DAX formula to calculate age.
Age = DATEDIFF(table_name[birthDate], TODAY(), YEAR)
- Exploratory Data Analysis (EDA)
- Objective: Gain initial insights into the data.
- Tasks:
- Analyze the distribution of billionaires by category, country, and industry.
- Explore the relationship between billionaires' wealth and their age, gender, and source of wealth.
- Investigate the distribution of self-made versus inherited billionaires.
- In-depth Analysis
- Objective: Conduct thorough analysis based on initial findings. Tasks:
- Analyze the impact of economic indicators (Gross Domestic Product, Consumer Price Index, tax rates, education
enrollment) on the presence and wealth of billionaires in
different countries.
- Explore the correlation between the wealth of billionaires and their country's demographic and economic health (life expectancy, education levels).
- Visualization and Dashboard Creation
- Objective: Create interactive visualizations and dashboards. ? Tasks:
- Design and develop a comprehensive dashboard in Power BI that showcases the findings from the Exploratory Data
Analysis and in-depth analysis.
- Ensure the dashboard is interactive, allowing users to filter by various dimensions such as country, industry, and wealth bracket.
- Insight Generation and Recommendations
- Objective: Derive actionable insights and make
recommendations.
- Tasks:
- Highlight key findings from the analysis, focusing on
surprising trends, disparities, and correlations.
- Provide recommendations for stakeholders interested in economic policies, wealth distribution, and investment
strategies.
- Report and Presentation
- Objective: Document findings and present the project.
- Tasks:
- Prepare a comprehensive report summarizing the
methodology, analyses, key findings, and
recommendations.
- Share a link to your dashboard
- Post your dashboard on your linkedin profile and tag
Deliverables
- Power BI Dashboard: An interactive dashboard providing insights into billionaire statistics, wealth distribution, and associated economic indicators.
- Project Report: A detailed report documenting the project approach, analyses conducted, findings, and recommendations.
- Presentation: A PDF document of your dashboard showcasing key insights
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