Business Demographics<br />
Why Business Demographics?<br />Growing importance in business and economics.<br /> Strategic advantage<br /> Explanatory ...
Applications<br />Site Selection<br />Human Resources Planning<br />Trade Area Assessment<br />Sales Territory Alignment<b...
How Consumer’s Create Data<br />Demographics<br />Buying Behavior<br />Completes Census<br />Makes Purchase<br />Consumer<...
The Big Picture<br />Demographics – Who are they and where do they Live?<br />Buying Behavior – What do they buy?<br />Med...
The Essentials for Business Use<br />Data Integration<br />Demographic Perspective<br />Actionable Presentation<br />
Data Integration<br />Business Unit Data<br />Sales<br />Accounting<br />Applications<br />Website Registrations<br />Mark...
Data Integration Example<br />
Data Integration Example<br />Trade Area vs. Customer Base by Industry<br />Sources: U.S. Census Bureau, 2006-2008 America...
The Demographic Perspective<br />Connects Demographics to Business<br />Rigorous and Analytic<br />Decision Focused<br />A...
Demographic Perspective Example<br />A blinding flash of the obvious …<br />The Baby Boom, Boom, Boom<br />
Demographic Perspective Example<br />A blinding flash of the obvious …<br />The Baby Boom, Boom, Boom<br />1940’s<br />194...
Demographic Perspective Example<br />The Baby Boom, Boom, Boom    -  The Dark Side<br />Average Annual Spending 65-74 Age ...
Actionable Presentation<br />Simple enough for Senior Management to Understand<br />Simple tabulations<br />Graphs & Chart...
Actionable Presentation Example<br />The Power of Thematic Mapping<br />Visualizing a Trade Area<br />
Actionable Presentation Example<br />The Power of Thematic Mapping<br />Visualizing Market Potential<br />
Strategies<br />Customer Profiles<br />Executable Segmentation<br />Market Sizing<br />Cloning<br />Net Names<br />Precise...
Selected Public Data Sources<br />Bureau of the Census<br />Bureau of Labor Statistics<br />Bureau of Economic Analysis<br...
Bureau of the Census<br />A Good Starting Point<br />Decennial Census<br />Can be pretty dated for business use<br />Ameri...
Bureau of the Census<br />Economic Census<br />Every 5 years – years ending in 2 and 7<br />Consistent since 1967<br />Est...
Bureau of the Census<br />Current Population Survey<br />Monthly<br />50,000 Households<br />Mainly Labor Force Characteri...
Bureau of Labor Statistics<br />Consumer Spending – CES<br />www.bls.gov/cex/<br />Inflation<br />Wages & Benefits<br />Pr...
National Center for Health Statistics<br />Population Health Status<br />Morbidity<br />Mortality<br />Health Care<br />Pu...
National Center for Educational Statistics<br />Enrollment<br />Attainment<br />District Data<br />Education Trends<br />w...
Federal Reserve System<br />Home Mortgage Disclosure Act Data<br />Consumer Credit<br />Household Debt<br />Survey of Cons...
Selected State Level Sources<br />General<br />www.nebraska.gov<br />Labor<br />http://www.dol.nebraska.gov/Click on Labor...
Selected Local Level Sources<br />General<br />www.omahachamber.org<br />Transportation, building permits, aerials<br />ww...
Selected Private Data Sources<br />Population Reference Bureau<br />www.prb.org<br />American Heart Association<br />www.a...
Selected Commercial Vendors<br />Dun and Bradstreet<br />http://dnb.com/us/<br />Infogroup / InfoUSA<br />www.infousa.com<...
Other Sources<br />Search engines<br />http://www.istrategylabs.com/2010/01/facebook-demographics-and-statistics-report-20...
Retail Food Example<br /><ul><li>British retailer’s U.S. Expansion
  Analysis of first sites
 Population & Density
 Earnings
 Race/Ethnicity
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Data conf 2010 bus demos

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Business Demographics Presentationby Ken Mayer for 2010 Nebraska State Data Conference

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Data conf 2010 bus demos

  1. 1. Business Demographics<br />
  2. 2. Why Business Demographics?<br />Growing importance in business and economics.<br /> Strategic advantage<br /> Explanatory power<br />A “sleeper” discipline<br /> Not widely taught<br /> The “applied” advantage<br />Broad applicability<br />
  3. 3. Applications<br />Site Selection<br />Human Resources Planning<br />Trade Area Assessment<br />Sales Territory Alignment<br />Strategic Planning<br />Target Marketing<br />Logistics<br />Financial Planning<br />Economic Development<br />
  4. 4. How Consumer’s Create Data<br />Demographics<br />Buying Behavior<br />Completes Census<br />Makes Purchase<br />Consumer<br />Reads, Watches, Listens, Surfs<br />Answers Surveys<br />Psychographics<br />Media Preferences<br />
  5. 5. The Big Picture<br />Demographics – Who are they and where do they Live?<br />Buying Behavior – What do they buy?<br />Media Preferences – How can we reach them?<br />Psychographics – What should we say to them?<br />
  6. 6. The Essentials for Business Use<br />Data Integration<br />Demographic Perspective<br />Actionable Presentation<br />
  7. 7. Data Integration<br />Business Unit Data<br />Sales<br />Accounting<br />Applications<br />Website Registrations<br />Marketing Research<br />Competitive Analysis<br />Even Checks with ZipCodes<br />Processed to conform with demographic tabulations<br />Added to Customer Records<br />Address Correction<br />Merge / Purge / Dedupe<br />Match & Append<br />
  8. 8. Data Integration Example<br />
  9. 9. Data Integration Example<br />Trade Area vs. Customer Base by Industry<br />Sources: U.S. Census Bureau, 2006-2008 American Community Survey and Internal data<br />
  10. 10. The Demographic Perspective<br />Connects Demographics to Business<br />Rigorous and Analytic<br />Decision Focused<br />Action Oriented<br />
  11. 11. Demographic Perspective Example<br />A blinding flash of the obvious …<br />The Baby Boom, Boom, Boom<br />
  12. 12. Demographic Perspective Example<br />A blinding flash of the obvious …<br />The Baby Boom, Boom, Boom<br />1940’s<br />1941 - A million cans of baby food a week<br />2010’s and beyond<br />Weight-Management<br />Travel<br />Errand Services<br />Financial Advice<br />Specialty Contractors<br />1948 - Two million cans a day<br />Beauty Salon/Spa<br />Cosmeceuticals<br />Health Clubs<br />'Active Adults' Residences<br />
  13. 13. Demographic Perspective Example<br />The Baby Boom, Boom, Boom - The Dark Side<br />Average Annual Spending 65-74 Age Cohort <br />
  14. 14. Actionable Presentation<br />Simple enough for Senior Management to Understand<br />Simple tabulations<br />Graphs & Charts<br />Maps. Maps. Maps. <br />
  15. 15. Actionable Presentation Example<br />The Power of Thematic Mapping<br />Visualizing a Trade Area<br />
  16. 16. Actionable Presentation Example<br />The Power of Thematic Mapping<br />Visualizing Market Potential<br />
  17. 17. Strategies<br />Customer Profiles<br />Executable Segmentation<br />Market Sizing<br />Cloning<br />Net Names<br />Precise Targeting<br />Opportunity Analysis<br />Sales Support<br />List selection<br />Et Cetera, Et Cetera, and so forth<br />
  18. 18. Selected Public Data Sources<br />Bureau of the Census<br />Bureau of Labor Statistics<br />Bureau of Economic Analysis<br />National Center for Health Statistics<br />National Center for Educational Statistics<br />Internal Revenue Service<br />Federal Reserve System<br />National Agricultural Statistics Service<br />International Trade Administration<br />Many Others<br />
  19. 19. Bureau of the Census<br />A Good Starting Point<br />Decennial Census<br />Can be pretty dated for business use<br />American Community Survey<br />Good Currency<br />Better to use 3 and 5 year averages<br />www.census.gov<br />
  20. 20. Bureau of the Census<br />Economic Census<br />Every 5 years – years ending in 2 and 7<br />Consistent since 1967<br />Establishment Data<br />NAIC codes<br />www.census.gov/econ/census02/<br />
  21. 21. Bureau of the Census<br />Current Population Survey<br />Monthly<br />50,000 Households<br />Mainly Labor Force Characteristics<br />www.census.gov/cps/<br />Confidence Intervals<br />
  22. 22. Bureau of Labor Statistics<br />Consumer Spending – CES<br />www.bls.gov/cex/<br />Inflation<br />Wages & Benefits<br />Productivity<br />Occupations<br />Safety and Health<br />www.bls.gov/<br />
  23. 23. National Center for Health Statistics<br />Population Health Status<br />Morbidity<br />Mortality<br />Health Care<br />Public Policy Research<br />Links to Registration Data by State<br />www.cdc.gov/nchs<br />
  24. 24. National Center for Educational Statistics<br />Enrollment<br />Attainment<br />District Data<br />Education Trends<br />www.nces.ed.gov/<br />
  25. 25. Federal Reserve System<br />Home Mortgage Disclosure Act Data<br />Consumer Credit<br />Household Debt<br />Survey of Consumer Finances<br />www.federalreserve.gov<br />
  26. 26. Selected State Level Sources<br />General<br />www.nebraska.gov<br />Labor<br />http://www.dol.nebraska.gov/Click on Labor Market Information<br />Economic Development<br />www.neded.org/<br />
  27. 27. Selected Local Level Sources<br />General<br />www.omahachamber.org<br />Transportation, building permits, aerials<br />www.mapacog.org<br />Health & Human Services<br />www.uwmidlands.org<br />
  28. 28. Selected Private Data Sources<br />Population Reference Bureau<br />www.prb.org<br />American Heart Association<br />www.americanheart.org<br />Guttmacher Institute (reproductive health) <br />www.guttmacher.org<br />National Education Association <br />www.nea.org<br />
  29. 29. Selected Commercial Vendors<br />Dun and Bradstreet<br />http://dnb.com/us/<br />Infogroup / InfoUSA<br />www.infousa.com<br />Claritas<br />www.claritas.com<br />ESRI<br />http://redlandsbao93.esri.com/BAO93/main.map<br />
  30. 30. Other Sources<br />Search engines<br />http://www.istrategylabs.com/2010/01/facebook-demographics-and-statistics-report-2010-145-growth-in-1-year/<br />Trade and Industry Associations<br />http://www.ustravel.org/news/press-releases/comprehensive-travel-and-tourism-study-gays-and-lesbians-highlights-leisure-trav<br />
  31. 31. Retail Food Example<br /><ul><li>British retailer’s U.S. Expansion
  32. 32. Analysis of first sites
  33. 33. Population & Density
  34. 34. Earnings
  35. 35. Race/Ethnicity
  36. 36. Income Sources
  37. 37. Expansion Recommendations
  38. 38. Two specific cities
  39. 39. Intersection selections</li></ul>Used Land View 6 for radius data , ACS, 2000 Census, company data and published reports. <br />
  40. 40. Workforce Example<br /><ul><li> Generation Gaps in the Workplace
  41. 41. Life expectancy
  42. 42. Workforce participation
  43. 43. Geographic distribution
  44. 44. Generational / Cohort Differences
  45. 45. Challenges and Opportunities
  46. 46. Recommendations for Managers</li></ul>Used Urban Institute, Bureau of Economic Analysis, Bureau of Labor Statistics, Census Data plus work of generational theorists. <br />
  47. 47. Baby Boomer Example<br /><ul><li> “Hip” Apparel for Baby Boomers
  48. 48. Analysis:
  49. 49. Spending Patterns
  50. 50. Attitudes
  51. 51. Life Styles
  52. 52. Values
  53. 53. Youth Orientation
  54. 54. Propensity to spend on appearance
  55. 55. Recommendations for clothing line</li></ul>Used Metlife Mature Market Institute, Bureau of Labor Statistics Consumer Expenditure Survey, Roper AARP Survey, American Society of Plastic Surgeons, Food Marketing Institute, Census.<br />
  56. 56. Local Site Selection Example<br /><ul><li> New Omaha Carwash Business
  57. 57. Characteristics of car washers
  58. 58. Age
  59. 59. Income
  60. 60. Household Size
  61. 61. Marital Status
  62. 62. 12 potential sites analyzed
  63. 63. Characteristics in each radii
  64. 64. Aggregate Rating & Ranking
  65. 65. Competitor Locations identified</li></ul>Used International Car Wash Association data, City of Omaha Metro Traffic Flow data, Land View 6 and InfoGroup counts.<br />
  66. 66. Questions?<br />

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