Demographic reporting is becoming increasingly important. This is due, in part, to predictions that the global population will double within the next 40 years. Currently, the world’s population is approximately 6.5 billion, and in the upcoming decades it is expected to reach nine billion people.
Data collection and demographic reporting traverses a broad range of categories. The reasons for collecting this data will depend on the purpose for which it will be used. In general, however, this will include basic demographic data such as age, gender, address, place of employment, and personal interests.
While this data is collected from a variety of sources prior to being analyzed and applied to specific types of situations, it includes travel and purchasing activities and other topics of interest to marketers.
It is expected that by 2030, Europeans will be supporting more people 65 or older, according to Eurostat. Estimates indicate that every 100 European workers will be supporting approximately 40 people within this age bracket. This is an increased responsibility for 15 people from 2008 European figures.
When considering that more Europeans, and Americans, too, will be carrying for the 65 and older age bracket, this data can be vital to anticipate the demand for specific types of products and services related to this age range. It is also important to those individuals that will be caring for this population.
It is not surprising, then, that a Dresner Advisory Services survey from 2014 showed that location intelligence plays a major role in business planning and strategizing. Dresner Advisory Services’ all-industry survey found that over half of those surveyed stated that it is very important and/or critical to their business planning.
Demographic reporting and analysis is also important to provide information on employment trends and job opportunities. Gartner, a research company, estimates that there will be additional jobs available in geospatial data.
Within the next two years, Gartner has suggested that there will be 4.4 million jobs requiring skills and experience with big data, including the Internet of Things. Unfortunately, Gartner expressed doubts that more than two-thirds of these positions will be filled by skilled professionals.
The geospatial data field needs workers with experience in these and other areas:
- Geospatial analysis
- Location intelligence software
- Location intelligence solutions
- Marketing analytics
- Marketing analytics services
The U.S. Bureau of Labor Statistics estimates that this field will experience steady growth between 2012 and 2022, however. More specifically, there will positions requiring the following GIS and local intelligence skill sets:
- Geographers: 29%
- Cartographers and photogrammetrists: 20%
- Surveying and mapping technicians: 14%
Another indicator of the need for and the expected expansion of this industry is the revenue that is generated. In 2011, for example, $73 billion was generated by the geospatial industry. Furthermore, this industry assisted with generating $1.6 trillion in additional revenue that benefited the United States’ economy.
Recently, MarketsandMarkets reported that there will be a considerable revenue expansion within the geospatial analytics market. In 2015, for example, this market was valued at $27.42 billion. By 2020, it is expected to be $72.21 billion.