Demystifying Gender Bias and Age Disparities: A Deep Dive into Superannuation Fund Demographics
Surviving the DAY 1 challenge was just the beginning, as the second day presented an even more formidable task—navigating the vast APRA superannuation dataset. With numerous tables demanding exploration, it took nearly two hours to unravel its complexities. Ultimately, I chose to delve into the gender biases within the usage of super funds, aiming to uncover patterns among males and females across various age groups.
Data Exploration and Leverage of Tableau: In addressing my specific inquiry, I required a denormalized dataset. However, time constraints prompted me to leverage Tableau’s pivot option, proving to be a lifesaver in the process.
Dashboard Overview: A. Gender Disparities and Industry Trends:
- Dynamic zone visibility was employed to swap sheets and showcase trends in the number of accounts opened for males and females. The dashboard highlighted the dominance of male accounts, with a discernible declining trend between 2019-2021 attributable to the COVID-19 pandemic.
- The retail sector exhibited a declining trend, while the industrial sector witnessed an increase in the number of accounts. Notably, males in the retail sector outnumbered their female counterparts.
- The visualization also delved into the top super funds with substantial balances.
B. Age-Based Account Variations:
- On the right side of the dashboard, a detailed exploration of account number changes based on age groups was presented.
- Younger individuals (<25 years old) were found to be less benefitted, lacking sufficient time to accumulate significant wealth in their super.
- The older age group (<85) showcased lower numbers due to the non-compulsory nature of super when they began working. Additionally, those with super in this age bracket had often retired, utilizing their superannuation funds over time.
Conclusion: Today’s dashboard provided a comprehensive insight into gender biases within superannuation fund usage and age-based disparities. As we unraveled trends and patterns, the journey showcased the nuanced dynamics within the superannuation landscape. Stay tuned for more revelations in tomorrow’s exploration.
That’s all for today’s Dashboard. See you guys again tomorrow