The world’s population is already significant. Current data indicates that there are roughly 6.5 billion people that live on this planet. Within the next four decades, however, the population is expected to increase by 50%. This means that there may be more than 12 billion people living throughout the world.
Given the immense amount of data that is created every day, combined with the current and expected population growth, demographic reporting and data analysis is even more crucial. In order to anticipate and then provide the types of goods and services that may be needed now and in the future, logical steps need to be taken.
Dresner Advisory Services conducted a global business survey in February 2014. This survey revealed that ?more than half of all respondents across all industries say location intelligence is critically or very important to their business planning.? Given the wealth of information that can be obtained for businesses through location intelligence software, they are better prepared to create marketing and other types of business strategies.
When companies need to plan, collect, report, and then analyze data, there may be situations where they are curious about the most appropriate activity ratios for these tasks. Since an integral aspect of the proverbial end result is to engage in demographic reporting to assist with business planning, Google’s data experts have a suggestion.
Basically, when anticipating just the right ratios, Google indicates that the following ones have been effective under various circumstances:
- Data capture: 15%
- Data reporting: 20%
- Data analysis: 65%
When examining the above percentages, it’s not surprising to see that analysis is stressed by Google experts. The results of this analysis can be applied to a variety of scenarios. In this way, businesses and other enterprises will be better prepared to fulfill demands for goods and services.
Does your company engage in marketing analytics to assist with the smooth functioning of its demand planning department? Would this or another one of your company’s departments benefit from additional services? It’s important to note that there are marketing analysis services available to assist your company with these and other essential purposes.