To the right of the memorial, you can see the quay where the Arizona was moored. At the left end, you can see the visitors getting on the boat to be ferried back
to the museum. The rusty protuberance in front of the memorial is the base of gun turret number 3.

According to the designer of the memorial:

The sag in the center indicates our initial defeat, while the uplifted ends signify our ultimate victory.
The design at the end (the windows in the shrine room) signifies the tree of life.