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September 12, 2023

#MakeoverMonday Week 37 - First time home buyers in the UK are being shut out of the market

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Have you ever heard of the "sunken cost fallacy"? If you haven't, it is where you continue a task based on previously invested resources, such as time, despite new evidence suggesting that the cost, beginning immediately, outweighs the expected benefit.

This is what nearly happened to me during Watch Me Viz. I was convinced I had created the perfect chart. That is, until comments started coming in to the contrary. I had gotten so fixated on this one chart that I thought all other ideas were inferior.

I snapped out of it eventually and turned my attention to another chart that told the story much better.

The lesson learned: be careful of, and attuned to, sunken cost.

With that, here's Watch Me Viz for you to follow along and learn lots about Tableau.


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