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Three Visualization Tools to Grasp Dynamism in the Global Economy: PRISM, TRADE MAPPER and EMERGENT

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Three Visualization Tools to Grasp Dynamism in the Global Economy: PRISM, TRADE MAPPER and EMERGENT Three Visualization Tools to Grasp Dynamism in the Global Economy: PRISM, TRADE MAPPER and EMERGENT Erik Noyes Deligiannidis Leonidas Babson College Wentworth Institute of Technology, Entrepreneurship Division Department of Computer Science and Systems Arthur M. Blank Center for Entrepreneurship 550 Huntington Avenue Babson Park, MA, USA Boston, MA, USA 001-781-239-5495 001-617-989-4142 [email protected] [email protected] Abstract - In this interactive demo-session we present how comprehend the data faster and easier. To accomplish this, information visualization can be used as an innovative one can convert data into a visual representation that allow pedagogical tool in business education to help students users to dynamically explore the data so that they can grasp dynamism in the global economy. We will comprehend and explore the data. As others have demonstrate how data-rich visualizations enable students’ observed, humans possess great pattern recognition skills understanding of foundational business content, including especially when it comes to visual representations [1]. global competition, innovation-based competition, and Restrictions such as the visual ―real estate‖ of a computer industry evolution. The growing field of information monitor or a sheet of paper can become an obstacle in visualization examines how data-rich representations of presenting data in such a way that humans, who are the complex phenomena can drive new insights and primary judges of a visualization technique, can observe, hypotheses. In the words of visualization researcher Ben query, and comprehend data. Because of this challenge, Schneiderman, "Information visualization gives you many visualization techniques present the data to the user answers to questions you didn't know you had." In a highly as an overview of the dataset with drill-down capabilities to visual presentation, participants will be engaged to see details on demand [2]. discuss, explore and critique a visual approach to teaching Most visualization techniques present the data as an about changing business environments, the global overview of the dataset [3] and include functionalities economy, and especially multi-decade change which which enable the user to zoom in and out to study the detail suggests new opportunities and risks for business leaders. of the data. Other visualization techniques offer This research was undertaken to examine ways visual simultaneous macro-micro levels of information, allowing knowledge discovery can improve learning outcomes in the user to choose varying levels of abstraction. Small business education including technology-enabled learning multiples--reoccurring visual structures which facilitate a and distance learning. ―visual language‖ within and across visualizations--can provide users grounding points for broader exploration, 1. Introduction theorizing, or question framing for a particular visualization. Yet other approaches to visualization give We will demonstrate three highly interactive visualization the user full control to explore the dataset one step at a time tools and present our formal findings. A successful [4]. With this last technique, users can explore any sub- visualization tool is one that enables a user to analyze and query the data efficiently and, as a result, it helps them graphs of the dataset but are not able to visualize a full dimensions can create added flexibility and introduce new overview of the dataset. richness [7]. Generally it is best for a visualization to be built around the Below we give a short overview of three visualization tools chief structure, or domain, of the data. For example, data to grasp dynamism in the global economy – PRISM, that contains geographic information should generally be TRADE MAPPER and EMERGENT-- which we presented over a map [5] [6]. Even though the idea to add developed for use in business education. Particularly, each more dimensions to visualize a dataset seems attractive visualization and its interactive capabilities are intended to (i.e., 3-D versus 2-D), research shows that caution must be enable innovative teaching about changing business taken when adding dimensions since the added environments, the global economy, and especially multi- complexity—of interpretation and/or navigation— can decade change which suggests new opportunities and risks confuse users. However, thoughtfully implemented and for business leaders. tested for effectiveness, visualizations with additional Fig. 1. PRISM is a visual knowledge discovery tool to visualize and understand International Technology Adoption and the innovation ―S-curve‖ 2. PRISM dynamism of industries and innovation. Students of business must appreciate the waves of creative destruction PRISM, shown above in figure 1, is a knowledge discovery which birth industries, redistribute wealth and alter the tool for exploring and understanding International basis of competition. Core to this objective is Technology Adoption and the innovation ―S-curve‖. A understanding patterns of innovation and technology central challenge in business education and adoption in the global economy (e.g., the rate at which entrepreneurship education specifically, is conveying the Mobile Phones and Personal Computers penetrate different to examine the tempo, implications and varying patterns of world markets). Namely, an accurate historical grasp of the technology adoption. diffusion of innovation in one‘s industry is central to Creating an interactive visual interface, we enabled making accurate business assumptions about the risks and entrepreneurship students to browse and compare timing of entrepreneurial opportunities, competition, return international technology adoption data across the leading on investment and the chances of venture success. 25 industrialized countries from 1788-2001. This included This research exploited the largest known international national trends in the adoption of telegraphs, AM radios, database on technology adoption to develop and test private cars, televisions, personal computers, mobile innovative teaching tools for entrepreneurship education, a phones and even industrial robots. Our head-to-head specialty within business education. The overarching goal evaluation of PRISM, versus an Excel spreadsheet with was to create interactive visual interfaces to improve identical data showed that entrepreneurship students make teaching on technology adoption and the diffusion of more accurate reflections and future forecasts about innovation with the aim of improving new venture technology adoption for a wide range of technologies with planning. In entrepreneurship education, technology our tool. The research was undertaken to examine ways adoption (also known as the S-curve) is generally taught visual knowledge discovery can improve learning qualitatively as a cornerstone concept in innovation, outcomes in entrepreneurship education and strengthen competitive analysis and new venture planning. entrepreneurship students‘ conception of innovation Accordingly, students are rarely, if ever, provided rich data dynamics when planning for and launching a new technology venture. Fig. 2. TRADE MAPPER is a visual knowledge discovery tool to understand shifting trade flows, and the criticality of world actors, in global trade between WWII and the last decade. 3. TRADE MAPPER drill down and focus on a snap shot or changing moment in world trade. TRADE MAPPER, shown above in Figure 2, is a visual This tool was created to give business students an intuitive knowledge discovery tool to understand shifting trade sense of the dynamism of world trade and show, for flows, and the criticality of world actors, in global trade example, the shifting importance of the United States in between WWII and the last decade. It provides business world trade. Where in the 1960‘s and 1970‘s the United students an interactive and intuitive interface to see States was unarguably a world hub for trade, now massive changing world trade patterns between the top 25 flows of trade are moving among specialized trade blocs industrialized countries. By applying a network layout and the United States is diminishing in overall importance algorithm, TRADE MAPPER shows the bi-directional and centrality to the flow of world trade. A network view – flows and value of trade between the top 25 industrialized as opposed to a standard non-relational line chart of simple countries, where countries which move to the center of the trade volumes – adds critical dimensions and interactivity visualization are those rising in importance in world trade to the typical presentation of trade data. In a classroom or in a certain time period. The thickness of the lines, or remotely on the web, business faculty and students can ―ties‖, between countries illustrates the total combined explore, discuss and reveal interesting longitudinal patterns value of imports and exports between any two countries. in world trade as part of discussion about the changing The user can ―play a movie‖ and see shifting patterns of business environment for industry and entrepreneurial world trade including the emergence of trading blocs for opportunities. the past 60+ years. Additionally, using sliders, the user can Fig. 3. Emergent is a visual knowledge discovery tool for understanding emerging industry structure. 4. EMERGENT parts of a data set. Specifically, users of PRISM, we found, were able to answer a series of questions about EMERGENT [7], shown above in Figure 3, is a visual international technology
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