50 Reasons Why: 50 ways U.S. Census Data is Used and Why You Should Care: Reasons 16-20 Business II
In this blog series we will be exploring 50 ways the U.S. Census data is used and why you should care. Believe it or not, the results of the 2020 U.S. Census are going to affect nearly every part of your day to day life. Here's how:
In this post we will be further focusing on how the U.S census affects the world of business. Here are reasons 16-20 why you should care about the 2020 U.S. census:
16. Analyzing Local Trends: Businesses use data from the census to analyze local trends, such as a population shift from young families to retirees, or from mainly renters to majority homeowners.
17. Distributing Catalogs and Developing Direct Mail Pieces: Census data can be used by businesses to understand where their target markets are so that they can develop catalogs and direct mail pieces that reach their target audience. If you have ever unexpectedly received a sale sheet or coupons from your favorite store through the mail, you can probably thank data from the census for it.
18. Setting a Standard for Creating Both Public and Private Sector Surveys: How often have we seen an advertisement for a product or service that states “_% of people prefer this product or service.”? Well census data forms the basis for those advertisements. It is also used for creating surveys for both the public and private sectors to ensure that they are performing up to standard.
19. Planning Investments and Evaluating Risks: Using data provided by the U.S. census, businesses can plan investments and evaluate risks. For example: building a trampoline park in an area with young families would be a good investment with minimal risk if the projections from the census show an estimated increase in families there in the upcoming years. For an area where its predicted to shift from families to retirees soon, it may not be such a great investment.
20. Spotting Trends in the Economic Well Being of the Nation: The U.S. census can provide insight as to how well the nation is doing economically as a whole. An increase in homeowners and families can show that the job market is doing well, and people are able to afford more, enticing businesses to bring more of their business here. Likewise, a decrease in homeowners and an increase in renters may suggest that the economy is struggling.
The U.S. census has a major impact in the business world. It is ingrained into nearly every level of business operations. So, stand up and be counted, because what affects the business world affects your world. Shape your future! Complete the census at 2020Census.gov today.