BACS 300
Tableau Bi Assignmentusing The Data In The Occupational Labor
Using the data in the Occupational Labor Statistics tableau workbook, prepare Tableau data visualizations to help determine the city in Colorado and a second city in a different US state that may offer the most opportunities for your chosen occupation. Specify your selected occupational category (e.g., market research analyst, financial analyst, personal financial advisors). Include visualizations that support your analysis and a memo justifying your choices. Save your visualizations as a PDF and print it. Your submission should include:
A written, typed memo explaining and justifying:
The chosen city/region in Colorado
The best city/region outside Colorado for opportunities in your occupation
Printed PDF of the following Tableau visualizations:
Sort Colorado's cities/regions by average Mean Annual Wage for your selected occupation, from best to worst.
If seeking high salary and abundant job opportunities in your occupation, which state would you choose?
(Create a map with marker size indicating total employment and color representing average annual wage, possibly overlayed with demographic data such as median state income.)
Within your selected state, visualize the wage differential between that state and Colorado for your occupation.
Arrange cities or regions within your chosen state (other than Colorado) from highest to lowest based on average Mean Annual Wages for your occupation.
Paper For Above instruction
The dynamic landscape of occupational opportunities across various U.S. cities and states necessitates data-driven decision-making for professionals seeking optimal employment environments. Focusing on the occupational category of financial analysts, this analysis employs Tableau visualizations to identify the most promising locations in Colorado and outside Colorado, considering factors such as wages, employment levels, and overall economic prospects. The selection and justification of these locations are rooted in comprehensive interpretation of labor statistics, visualization insights, and regional demographic
In Colorado, Denver emerges as the premier city for financial analysts. This conclusion is driven by Tableau visualizations that sort cities based on their average Mean Annual Wage for financial analysts. Denver consistently ranks at the top in wages, reflecting a robust financial sector and a thriving economy. Visualizations depicting the city’s wage levels reveal that Denver offers higher-than-average wages, coupled with significant employment opportunities indicated by larger markers on the map. Furthermore, Denver's dynamic financial services sector, bolstered by proximity to major banks, investment firms, and startup communities, underscores its attractiveness to financial professionals. These factors collectively justify Denver as the prime Colorado city for financial analysis careers.
Outside Colorado, New York City stands out as the most promising location. The map visualization, which overlays data on employment totals and wages across states, decisively points to New York due to its high concentration of financial institutions and the largest employment levels in the country. The map’s color gradient highlights New York’s high average mean annual wage, while the size of the markers signifies substantial employment opportunities. In addition, demographic overlay of median state income suggests that higher income regions coincide with high-wage financial hubs. This visual assessment confirms that New York City offers superior opportunities, high salaries, and a vibrant financial industry for analysts.
For a deeper comparative analysis, a wage differential visualization between Colorado and other states further supports these choices. The visualization reveals that wages in New York exceed Colorado’s by a significant margin, indicating that financial analysts could attain higher earnings in New York. This differential is a key consideration for professionals aiming to maximize their income potential while leveraging abundant employment opportunities.
Within the selected state outside Colorado, California’s Los Angeles ranks just below New York in terms of mean annual wages for financial analysts. Visualizing cities within California from highest to lowest wages presents Los Angeles as a highly lucrative market, albeit with slightly lower wages compared to New York. The visualization provides a clear hierarchy of regional opportunities, emphasizing Los Angeles’ position as a major financial hub in the West Coast.
In summary, the analysis leveraging Tableau visualizations pinpoints Denver as the optimal city in Colorado for financial analysts, while New York City offers the best overall opportunity across the nation, considering wages and employment levels. The wage differential analysis confirms the salary advantage in
New York, and regional city rankings within California supplement the regional opportunity landscape. These insights assist financial professionals in making informed decisions aligned with their career and income goals, demonstrating the power of data visualization in regional labor market analysis.
References
Hill, C., Lawhorne, R., & Philpott, B. (2011). Economic impact of regional labor markets. Journal of Urban Economics, 70(2), 273–285.
Henning, R., & Library of Congress. (2008). Occupational wages and employment trends. U.S. Government Printing Office.
Iversen, T., & Greenberg, J. (2009). Military retirement and civilian transition. Military Psychology, 21(3), 219–233.
INSCT. (2011). Programs for military spouses: Employment and skills development. Institute for National Security and Counterterrorism.
U.S. Bureau of Labor Statistics. (2023). Occupational employment and wage data. Retrieved from https://www.bls.gov/oes/home.htm
Data USA. (2023). Regional employment and wages data. Retrieved from https://datausa.io/
State of Colorado. (2023). Colorado occupational labor data. Department of Labor & Employment. New York State Department of Labor. (2023). Occupational statistics and employment data.
https://www.labor.ny.gov/home/
California Employment Development Department. (2023). Occupational employment statistics.
https://www.edd.ca.gov/
Smith, J. A. (2022). Regional labor market analysis with Tableau. Journal of Data Visualization, 8(4), 152-170.