Before starting a new business or expanding an older one, it is crucial to plan it out in advance. The success of your enterprise is not just based on the service/product you offer, but also on location and characteristics of the targeted population. A lot of research ought to go into location analytics before making the big move. Here we will examine the importance of using a Census Data Map to bring all factors into consideration.
Does your business need a population data map?
It is imperative to consider the usability of a sophisticated service such as a population data map for your own business. Whatever sector your business may fall into, from FMCG & retail to banking & finance, you need to understand the dynamics of your customer base. There is no point in trying to ‘sell’ in a lack of demand from proper population. Even if you don’t need to open a retail store, a population data map can help you figure out the optimal location for setting up advertisements.
All the data you’ll ever need
Census is the most extensive research on ground level. Such a research is often impossible to partake with our very own limited resources. It gives you location wise data on various demographics such as age distribution, religion, gender, literacy rate, population density, average income and much more. You can imagine how tedious it would be to use this raw data for insights. But with an interactive Census data map, you can use it to study particular area’s data and chalk out a plan for future expansion.
Comparing competitor’s insights
Once you start using census data maps for analysis, you will find endless applications for the vast expanse of data. Analyze how your competitors are doing in their respective locations and track what trends they have followed in setting up their outlets. You can study the impact upcoming competitors will have on your business and take steps to mitigate the potential damages.
Post-investment analysis
Data analysis can equip your business with strategic planning for establishing and expanding but it is not limited to just that. Using better location-based statistics for your sales in a particular region can help you understand the strengths of your products or services better. Combine this with a population data map and you get personalized insights based on your business in your desired location. Have an edge over your competition by introducing census data in your research and feel the difference.
Data is the most important tool used for making smart decisions. It is therefore essential to have a strong hold on data relevant to your business. When you combine the power of data with location, you get the difference between failure at launch and consistent success.
You do not need to worry about playing with all this data yourself. Software providers like Lepton Software enable you to integrate tools like Populace+ in your market research. This tool offers you demographic and lifestyle population data map & census data map in the following fields:
• Market Profile of India – District Level
• India GDP – District Level
• Rural Block Profile
• Town Profile
• Village Profile
• City Neighborhood Data
• City Ward data
• Economic Activity HD
You can get in touch with Lepton Software by dropping an email at: marketing@leptonsoftware.com or by calling on: +91-124-4725500
