Analysis Of Data Questions and Answer

Set A: Question no. A2

Fast fashion market value forecast worldwide from 2022 to 2027 (in billion U.S. dollars)

Description of Key Features

The evolution of fast fashion all over the world over the years is being depicted through the visualization that has been provided. The visual representation also shows the prediction of future values. The figure that has been taken into consideration for the analysis in this set is regarding fast fashion (Pantano, et al. 2019). The two keywords that have been observed in the case of this visualization are:

Fast Fashion

The word “fast fashion” essentially indicates the change in the recent catwalk trends that aim at low-cost production of clothes to increase the demand and thereby, make the product available in the market as soon as possible till the demand is high.

Market Value

It is the capitalization power of the company or the industry in the market.

Analysis of Key Features

Figure 1: Worldwide Fast Fashion Market Value Prediction

(Source: Statista)

The graphical representation that has been presented above shows the market value of the fast fashion companies market value over the years and thereby, their anticipated growth rate. The graph therefore showcases the brightening scope of growth for the industry as a whole. It is observed that the market value is $91.23 billion in 2021 and in 2023, it is $122.98. Further, it is anticipated that in 2021 the market value of the industry will be $184.96. The quick evolution of fast fashion was possible due to the changing inclination of the customers in branded and designer clothes. The sudden inclination of the customers towards branded clothes has increased the sales of the designer and demand for those clothes (Niinimäki, et al. 2020). The worldwide fast fashion industry is evolving at a higher rate which is evident through this visualization. The growth impacts significantly on the GDP of every country in the world. Thereby, the market value of the fast fashion industry has quite a hold on the worldwide GDP.

Accuracy of Data Source

The source of the above-analyzed visual representation is Statista. This website is a famous website for the purpose of data collection over the internet. In today’s time, this website is a very reliable source for the collection of data. The above-described graph is on the fast fashion industry that is enhancing all over the world (Arrigo, 2020). The data that are obtained from this source are mostly accurate.

Set B: Question no. B2

Annual inflation pace for all foods and non-alcoholic beverages.

Description of Key Features

Over the years, the Consumer Price Index (CPI) inflation rate fluctuated, arriving at a peak of 20% is displayed in the graph. Notable features include a steady increase from Jan-21 to mid-2022, trailed by a sudden spike in inflation around mid-2022, potentially impacted by outer variables. The graph then, at that point, portrays a slow decline, showing a possible remedial pattern. These fluctuations propose a unique monetary climate with fluctuating inflationary tensions on fundamental items (Bolhuis, et al. 2022). Experts might find the articulated peaks and boxes significant for understanding the instability and possible financial ramifications during this time period.

Get Extra 10% OFF on your WhatsApp order!

use my discount

Analysis of Key Features

Figure 2: CPI Inflation Growth Over the Years

(Source: The Food Foundation)

The portrayed line graph uncovers fascinating examples in the Annual Inflation Rate for all foods and non-alcoholic beverages from January 2021 to March 2023. The underlying period features a steady incline, proposing a slow ascent in inflation. In any case, the most vital viewpoint arises around mid-2022, when a sharp and sudden spike pushes the CPI inflation rate to a significant 20% (Elsayed, et al. 2021). This sudden flood could be characteristic of outer shocks, for example, production network disturbances or international occasions, fundamentally influencing the evaluating elements of fundamental merchandise.

This investigation recommends that policymakers and financial experts intently screen and address the fundamental elements adding to these changes. Understanding the subtleties of these movements is significant for carrying out designated mediations to balance out prices and help the effect of inflation on consumers and the more extensive economy.

Accuracy of Data Source

The accuracy of the data source is pivotal for drawing reliable conclusions from the depicted line graph. It is imperative to verify the credibility and methodology of the organization by giving the Annual Inflation Rate data for all foods and non-alcoholic beverages from January 2021 to March 2023 (Bolhuis, et al. 2022). A careful assessment of data assortment strategies, testing methods, and consistency in revealing will guarantee the unwavering quality of the experiences obtained from the graph, upgrading its utility for informed monetary examination.

Set C: Question no. C3

Religious identity in the UK, 2021.

Description of Key Features

Religion today has taken a major foot ahead with the people inclining towards spirituality. The graphical representation that has been displayed in this set focuses on the religious proportion of the people living in the United Kingdom. This graph entails the religion of the people of the United Kingdom.

Religion

Religion is not an identity of any human being. However, the concept of religion has emerged to categorize the followers or disciples of various Gods and the idea of different supreme sources.

United Kingdom

The world was largely under the influence of the United Kingdom. The power of colonization and exploiting the weaker and poorer people had gout the United Kingdom too much treasure (Jaspal, et al. 2021). Further, the Britishers have also preached Christianity all over the world and have forced people to convert to religion in the areas of colonization.

Analysis of Key Features

Figure 3: Proportion of Various Religion Identity in the United Kingdom

(Source: Office for National Statistics, UK Census 2021)

The graphical representation that has been provided above shows a line graph that focuses on the religious identity of the people living in the United Kingdom. The graph, thereby, effectively depicts that Christianity lost its lustre in the United Kingdom has a huge fall in the graph is observed. In the year 2001, the Christian population was more than 70% of the total population of the country. As per the records of 2021, the Christian population is less than 50% of the total population (Murphy, et al. 2021). The no-religion population has increased from 15% in 2001 to almost 40% in the year 2021. It is also noted that Muslims and other religious populations in the United Kingdom have also increased but not significantly.

Accuracy of Data Source

The source of the above-analyzed data has been gathered from the Office for National Statistics of the United Kingdom. This is a very reliable source over the internet for the collection of accurate data. This is because it is a government entity (Pennycook, et al. 2022). Thus, the collection of data becomes a piece of strong evidence for the overall assignment.

Set D: Question no. D1

A breakdown of internet users in the UK by age group over time (2011-20).

Description of Key Features

The below graph represents the number of people per age using the internet in the UK. The two key features are the Internet Usage and the young people using internet.

Internet Usage: According to the Ofcom data, 456 GB/month was the average usage per UK household. The usage of the event is growing too fast in today’s world. The usage of the internet in the UK has almost increased by around 225 thousand between 2022 and 2023 (Kocevska, te al. 2021). Covid-19 plays a very important role in increasing the usage of the internet.

Young people using the Internet: Nowadays, Youth are so obsessed with their mobile. A 16-year-old child is using a mobile and watching videos through the internet. During the Covid period, students used to do their virtual classes and many other activities through the Internet. So, the internet is a very important part of young people’s lives.

Analysis of Key Features

Figure 4: Number of People Per Age Using the Internet In the United Kingdom

(Source: Derived from ONS, reported by USwitch)

The above graph shows the percentage of internet users in the UK. The Internet is the most important and essential element for today’s people. In 2020, almost 92% of the UK’s adults were recent internet users. But in 2019, the percentage was 91%. In 2020, Around 6.3% of UK adults had never used the Internet which was down from 7.5% in 2019 (Sigurvinsdottir, et al. 2020). Around a;l adults aged 16-44 years were the recent internet users, the rate of the users is 99% compared with 53% of adults aged 76 years. In 2011, only 20% of the adult people (75 years) had used the internet. In 2011, almost 2.1 billion people had access to the internet. In 2020, London continued to have the highest internet use in the UK region, the percentage is almost 95%. But the Northern Ireland stayed the lowest at around 89%.

Accuracy of Data Source

The source of the above-analyzed visual representation is Derived from ONS, reported by USwitch. This website is a popular website for the purpose of data collection over the internet. In today’s time, this website is a very reliable source for the collection of data (Li, and Wang, 2020). The above-described graph is on the number of people per age using the Internet in the UK. The data that are collected from this source are appropriate.

References

Journals

Set A

• Pantano, E., Giglio, S. and Dennis, C., 2019. Making sense of consumers’ tweets: Sentiment outcomes for fast fashion retailers through Big Data analytics. International Journal of Retail & Distribution Management, 47(9), pp.915-927.
• Niinimäki, K., Peters, G., Dahlbo, H., Perry, P., Rissanen, T. and Gwilt, A., 2020. The environmental price of fast fashion. Nature Reviews Earth & Environment, 1(4), pp.189-200.
• Arrigo, E., 2020. Global sourcing in fast fashion retailers: Sourcing locations and sustainability considerations. Sustainability, 12(2), p.508.

Set B

• Bolhuis, M.A., Cramer, J.N. and Summers, L.H., 2022. Comparing past and present inflation. Review of Finance, 26(5), pp.1073-1100.
• Elsayed, A.H., Hammoudeh, S. and Sousa, R.M., 2021. Inflation synchronization among the G7and China: The important role of oil inflation. Energy Economics, 100, p.105332.
• Bolhuis, M.A., Cramer, J.N. and Summers, L.H., 2022. The coming rise in residential inflation. Review of Finance, 26(5), pp.1051-1072.

Set C

• Jaspal, R., da Silva Lopes, B.C. and Breakwell, G.M., 2021. British national identity and life satisfaction in ethnic minorities in the United Kingdom. National Identities, 23(5), pp.455-472.
• Murphy, J., Vallières, F., Bentall, R.P., Shevlin, M., McBride, O., Hartman, T.K., McKay, R., Bennett, K., Mason, L., Gibson-Miller, J. and Levita, L., 2021. Psychological characteristics associated with COVID-19 vaccine hesitancy and resistance in Ireland and the United Kingdom. Nature communications, 12(1), p.29.
• Pennycook, G., McPhetres, J., Bago, B. and Rand, D.G., 2022. Beliefs about COVID-19 in Canada, the United Kingdom, and the United States: A novel test of political polarization and motivated reasoning. Personality and Social Psychology Bulletin, 48(5), pp.750-765.

Set D

• Kocevska, D., Lysen, T.S., Dotinga, A., Koopman-Verhoeff, M.E., Luijk, M.P., Antypa, N., Biermasz, N.R., Blokstra, A., Brug, J., Burk, W.J. and Comijs, H.C., 2021. Sleep characteristics across the lifespan in 1.1 million people from the Netherlands, United Kingdom and United States: a systematic review and meta-analysis. Nature human behaviour, 5(1), pp.113-122.
• Sigurvinsdottir, R., Thorisdottir, I.E. and Gylfason, H.F., 2020. The impact of COVID-19 on mental health: The role of locus on control and internet use. International Journal of Environmental Research and Public Health, 17(19), p.6985.
• Li, L.Z. and Wang, S., 2020. Prevalence and predictors of general psychiatric disorders and loneliness during COVID-19 in the United Kingdom. Psychiatry research, 291, p.113267.