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While most businesses today collect considerable transactional data on their customers, few can translate this into the information required to efficiently or profitably manage customer relationships. However, organisations on both sides of the Tasman can now derive insights into the key drivers of discretionary spending, by learning more about the lifestage, family structure, education, household income and wealth characteristics of their customers.
By subdividing the population into clusters of similar individuals using the LandScape segmentation product, businesses can easily differentiate between the diverse types of people in the population. Companies can then decide which potential customers offer the most value, based on who they are, how they behave now and how they are likely to behave in the future.
LandScape’s segmentation is based on three tiers of mographicgranularity, and four layers of geographic granularity. These smaller levels of geography minimise the chance of assigning incorrect demography to a particular individual or household. For example, consider a retirement home located within a neighbourhood of young families – two clusters of individuals with entirely different lifestyle and wealth characteristics. Clearly, the ability to distinguish between the two demographic groups is enhanced as the level of geographic granularity increases.
For each level of geographic granularity, LandScape provides three levels of demographic granularity. The level of demographic granularity appropriate for analysis is largely determined by the size of the database to be examined, and the type of analysis being conducted.
Key to the value proposition of LandScape is its dynamic and comprehensive nature. It combines data from the Australian Bureau of Statistics, Statistics New Zealand and lifestyle research data with information sourced from Baycorp Advantage’s credit reporting databases.
To find out more about specific products or services that meet the needs of your business, please contact us via our website. Alternatively to find out more information about LandScape New Zealand or LandScape Australia please visit our website.
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