Numbers and financial information are not easy to display and some visualisations can lead to confusions or misinterpretations.
Jeff Leek gathers in his book The Elements of Data Analytic Style (2015) some words from John Tukey, one of the most innovative data scientists:
“The data may not contain the answer. The combination of some data and aching desire for an answer does not ensure that a reasonable answer can be extracted from a given body of data”.
Alberto Cairo talks about a lack of reasoning in his last book The Truthful Art. On a previous post he said:
“We are surrounded by numbers, statistics, and scientific publications; and sometimes journalists publish huge barbarities.”
Below I have gathered three good examples when it comes to explaining and visualising complex data on economics issues: