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Irish Economic Crisis Visualised in Power BI Purchase this course

24 March 2015 · 1 comment · 2533 views

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Could You Have Predicted It?

In this 40-minute video Carmel Gunn and Bob Duffy from Prodata SQL Centre of Excellence explore the Irish Economic Crisis from multiple perspectives, using Microsoft latest visualisation tools including Power BI, Power Query, Power Map, Power View and Q&A.

We take a very common business angle, where people need to find data and to make sense of it, fast, but don’t know what questions to ask, nor how to combine available sources in a way that makes sense.

We start by discussing early research on Wikipedia (1:52) into the available economic metrics (1:31). This data is accessed using Power Query and Excel (3:37) to bring a first view of the Irish GDP vs the economic crisis (8:09). Using natural-language Q&A feature Bob quickly builds a dashboard comparing Irish GDP against that of UK and Germany (15:06) before introducing the concept of the timeline (15:55). After Carmel’s insightful comments about the concern of GDP growth vs the growth of government debt (16:33) you see a powerful, animated visualisation which we call the Recession Line: it uses Power View animated bubble (scatter) charts to literally play back the economic crisis as it happened (17:45)—do not miss this part of the video!

A second part of this story focuses on the way the crisis money was spent (21:57) including the strange growth of the housing stock in those parts of Ireland that really did not need any such housing, shown on a Power Map (28:33). Subsequently, we touch a very interesting point: where did the money come from (34:05) which shows both the previously unexpected shift in the risk and the lack of its supervision or management on the side of the borrower and, perhaps, even the lender countries, while also showing you a good way to use a colourful stacked column chart in Power View. Finally, Carmel asks the question if Irish books have been balanced (38:09) at this moment in time, but you will have to watch the video to find out her answer.

Bob goes behind the scenes, showing you, briefly, some of the data model and DAX calculations that were needed (32:40). However we recommend that you download the accompanying two Excel workbooks that contain this model and data, so that you can examine it yourself and, perhaps, see if there were other aspects of the crisis that could be of interest.

Could Power BI have helped prevent a small country owing over 200 billion euro (40:00) in debt?

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CarltonSeymour · 14 April 2015

The most amazing economic video I have seen till date. Dear Carmen, Bob and the team thank you for sharing. I wish I could take up the paid up subscription but unfortunately have some commitments for the next few months. Best wishes.

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