When studying the demographics of an area for a business venture or expansion you need to not only understand all the data, but what it means to your individual business model. Census data and Census projection charting for MSDA’s has become very accurate over the years. One company that uses ESRI’s ARC Info has data, which it sells called Tiger Files (Census Blocks). This is data by 650 household areas. Tiger files are the estimated growth of regression of an area based on the previous trends and generally is fairly accurate out about five years. This is extremely beneficial for business planning. Many things can in fact happen in five years such as BRAC military base closing, large factory closing, natural disaster or new trend impeding the projected trends. Generally however the data is very accurate at 2 to 3 years and pretty accurate at 4 to 5 years out. Since all other government and easy to get demographic data can be pin pointed in an area on a map with boundaries such as: Census Tracts MSA’s, ADI’s, CCD’s, MCD’s, CSMA’s, DMA’s Zip Codes City, County Limits Congressional, State Assembly, Senatorial, School and Water Districts Yellow Page Areas with exact longitudinal and latitudinal coordinates, even exact addresses can be shown. Most savvy businesses can take any current database and show in five minutes every single customer for the last ten years with a pinpoint on a map. They can then review the clusters of dots and determine, based upon the demographics of the clusters, our highest probability for sales. Small businesses can have this data too and at a very inexpensive cost, which helps them mitigate the mighty power of larger corporate competitors. Large companies have the bucks to secure the best locations and make money because their risk is calculated and they rarely make mistakes. That is because they understand the use of mapping software and demographic studies. Do not be intimidated, just follow these simple methods and you too can be ultra competitive in your target market. Think about it. Think about winning. "Lance Winslow" - Online Think Tank forum board. If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/wttbbs/
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