Consumer Vitality is an index that measures consumer desirability and performance at the Dissemination Area (DA) unit of analysis. Consumer Vitality was developed using input data and software from Precisely and a global business database.
Consumer Vitality is defined by six categories:
- Personal economics
- Community economics
- Education
- Quality of life
- Crime
- Health
Consumer Vitality employs continuously updated, small-area demographic and location data in a location-enabled framework to understand how small areas perform – as independent entities and relative to proximal geography and macro level socio-economic trends. Through a proprietary methodology, Consumer Vitality measures the socio-economic desirability of a geographical area – and the economy as a whole.
With an abundance of data in the market, organizations are inundated with data and forced to sift through the data to make effective decisions. The Consumer Vitality index allows users to easily target areas that are – and are not – desirable and performing. Consumer Vitality is proven to separate the signal from the noise.
By leveraging multiple layers of geography and business-oriented geographical constructs, Consumer Vitality is a unique, robust and data-intensive approach to measuring small area consumer performance. Consumer Vitality is produced at the Dissemination Area (DA) unit of analysis and the index can be calculated for other census, postal geography and custom market area geographies.
For each DA, there is one composite Consumer Vitality index and six (6) sub-indices. The sub-indices are used to compliment the composite Consumer Vitality index in terms of allowing users to understand the characteristics – and customize said characteristics – that form the Consumer Vitality index. The sub-indices categories are Personal Economics, Community Economics, Education, Quality of Life, Crime and Health.