Precisely has launched PSYTE™ US Geodemographic data. It delivers a new level of context for finer-grained location-based targeting and decision-making. It brings 12 lifestyle groups and 63 mutually exclusive neighbourhood types.
Dan Adams, SVP – Data Strategy & Operations at Precisely, said, “The past few years have transformed the way in which people live, work, and travel – with companies challenged to derive meaningful insights from increasingly complex and multi-dimensional data.
“The PSYTE US geodemographic dataset helps simplify enrichment and access to insightful data, using proprietary techniques to help ensure that all foundational data is kept up-to-date, and accurately reflects the ever-changing nature of the US population.”
What is PSYTE US geodemographic data?
PSYTE US Geodemographic Data, is a segmentation data solution. It is described by Precisely as “providing easy-to-understand classification of populations in target geographies across all 50 U.S. states and the District of Columbia.
“Part of an extensive data enrichment portfolio, the product’s expertly curated dataset enables businesses to deepen customer relationships by providing personalized services, save time and money with more accurate audience targeting, and fuel confident decisions by uncovering greater levels of context from audience insights.”
One of the challenges is that address data is messy. Data gets input badly, and different applications, organisations and countries use different fields and formats. PSYTE US Geodemographic Datagets around that by using the PreciselyID. It is a unique field that Precisely uses across all its geo data products to identify addresses.
Organisations using Precisely PSYTE US Geodemographic Datacan rely on the PreciselyID to keep data properly linked. As they build their enriched data with information on addresses, it is consistently indexed. It eliminates the need to constantly be matching different address formats when mixing data for different purposes.
Consumers expect better personalisation
Another key feature of PSYTE US Geodemographic Data is the level of granularity that it offers. There are 12 lifestyle groups and 63 mutually exclusive neighbourhood types within PSYTE US Geodemographic Data. Users of the geo data can drill down and tune their data to a degree many will never have experienced.
For the consumer experience, it means that campaigns can target different people in the same neighbourhood based on lifestyle. In areas where there is gentrification or mixed populations, this allows organisations to get the right message to the right consumer.
Precisely call out other uses of PSYTE US Geodemographic Data including:
- Customer Insights – better understand audiences based on lifestyle, interests and other factors needed for personalized marketing and product strategies.
- Location Planning – analyze demographics of different vicinities when establishing the ideal location for new stores or services.
- Investment Analytics – assess new markets for potential risks and opportunities based on economic and social conditions.
- Logistics and Delivery Planning – identify preferences of selected audiences, to better manage stock levels and availability of products in different locations.
- Emergency Planning – access insights into the demographics of specific regions for more effective governmental and public sector policy planning, emergency services deployment, route evacuations, and more.
Enterprise Times: What does this mean?
Consumers want a highly customised experience that is slick and customised to them. The problem for most retailers and organisations is getting the granularity of data required to deliver that. With PSYTE US Geodemographic Data, Precisely feels that it has removed a major barrier and added the granularity organisations need.
Adams sums this up, saying, “The addition of the PreciselyID exponentially increases the valuable insights derived through PSYTE US geodemographic data by allowing it to easily connect to over 400 Precisely datasets, containing more than 9,000 attributes.
“It’s a powerful combination that provides premium levels of data context for organizations seeking to make confident location-based decisions.”
With the US in election mode and retailers looking for every edge they can in an increasingly competitive market, it will be interesting to see how quickly organisations take up PSYTE US Geodemographic Data.