2. Why Business Demographics? Growing importance in business and economics. Strategic advantage Explanatory power A “sleeper” discipline Not widely taught The “applied” advantage Broad applicability
3. Applications Site Selection Human Resources Planning Trade Area Assessment Sales Territory Alignment Strategic Planning Target Marketing Logistics Financial Planning Economic Development
4. How Consumer’s Create Data Demographics Buying Behavior Completes Census Makes Purchase Consumer Reads, Watches, Listens, Surfs Answers Surveys Psychographics Media Preferences
5. The Big Picture Demographics – Who are they and where do they Live? Buying Behavior – What do they buy? Media Preferences – How can we reach them? Psychographics – What should we say to them?
6. The Essentials for Business Use Data Integration Demographic Perspective Actionable Presentation
7. Data Integration Business Unit Data Sales Accounting Applications Website Registrations Marketing Research Competitive Analysis Even Checks with ZipCodes Processed to conform with demographic tabulations Added to Customer Records Address Correction Merge / Purge / Dedupe Match & Append
9. Data Integration Example Trade Area vs. Customer Base by Industry Sources: U.S. Census Bureau, 2006-2008 American Community Survey and Internal data
10. The Demographic Perspective Connects Demographics to Business Rigorous and Analytic Decision Focused Action Oriented
12. Demographic Perspective Example A blinding flash of the obvious … The Baby Boom, Boom, Boom 1940’s 1941 - A million cans of baby food a week 2010’s and beyond Weight-Management Travel Errand Services Financial Advice Specialty Contractors 1948 - Two million cans a day Beauty Salon/Spa Cosmeceuticals Health Clubs 'Active Adults' Residences
17. Strategies Customer Profiles Executable Segmentation Market Sizing Cloning Net Names Precise Targeting Opportunity Analysis Sales Support List selection Et Cetera, Et Cetera, and so forth
18. Selected Public Data Sources Bureau of the Census Bureau of Labor Statistics Bureau of Economic Analysis National Center for Health Statistics National Center for Educational Statistics Internal Revenue Service Federal Reserve System National Agricultural Statistics Service International Trade Administration Many Others
19. Bureau of the Census A Good Starting Point Decennial Census Can be pretty dated for business use American Community Survey Good Currency Better to use 3 and 5 year averages www.census.gov
20. Bureau of the Census Economic Census Every 5 years – years ending in 2 and 7 Consistent since 1967 Establishment Data NAIC codes www.census.gov/econ/census02/
21. Bureau of the Census Current Population Survey Monthly 50,000 Households Mainly Labor Force Characteristics www.census.gov/cps/ Confidence Intervals
22. Bureau of Labor Statistics Consumer Spending – CES www.bls.gov/cex/ Inflation Wages & Benefits Productivity Occupations Safety and Health www.bls.gov/
23. National Center for Health Statistics Population Health Status Morbidity Mortality Health Care Public Policy Research Links to Registration Data by State www.cdc.gov/nchs
24. National Center for Educational Statistics Enrollment Attainment District Data Education Trends www.nces.ed.gov/
25. Federal Reserve System Home Mortgage Disclosure Act Data Consumer Credit Household Debt Survey of Consumer Finances www.federalreserve.gov
26. Selected State Level Sources General www.nebraska.gov Labor http://www.dol.nebraska.gov/Click on Labor Market Information Economic Development www.neded.org/
27. Selected Local Level Sources General www.omahachamber.org Transportation, building permits, aerials www.mapacog.org Health & Human Services www.uwmidlands.org
28. Selected Private Data Sources Population Reference Bureau www.prb.org American Heart Association www.americanheart.org Guttmacher Institute (reproductive health) www.guttmacher.org National Education Association www.nea.org
29. Selected Commercial Vendors Dun and Bradstreet http://dnb.com/us/ Infogroup / InfoUSA www.infousa.com Claritas www.claritas.com ESRI http://redlandsbao93.esri.com/BAO93/main.map
30. Other Sources Search engines http://www.istrategylabs.com/2010/01/facebook-demographics-and-statistics-report-2010-145-growth-in-1-year/ Trade and Industry Associations http://www.ustravel.org/news/press-releases/comprehensive-travel-and-tourism-study-gays-and-lesbians-highlights-leisure-trav
46. Recommendations for ManagersUsed Urban Institute, Bureau of Economic Analysis, Bureau of Labor Statistics, Census Data plus work of generational theorists.
55. Recommendations for clothing lineUsed Metlife Mature Market Institute, Bureau of Labor Statistics Consumer Expenditure Survey, Roper AARP Survey, American Society of Plastic Surgeons, Food Marketing Institute, Census.
65. Competitor Locations identifiedUsed International Car Wash Association data, City of Omaha Metro Traffic Flow data, Land View 6 and InfoGroup counts.