Precisely, the global leader in data integrity, announced the launch of its PSYTE US geodemographic segmentation data product, 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.
The dataset unlocks additional value through its integration with the PreciselyID, a unique and persistent identifier from Precisely that allows tagged addresses to be seamlessly linked to its comprehensive data enrichment portfolio.
Consumers increasingly expect the brands they engage with to offer a more relevant customer experience, with McKinsey reporting that 71% of consumers look for personalized communications. However, many organizations struggle with ever-growing volumes of data for useful customer insights – particularly alongside the added pressure of staying compliant in an evolving regulatory landscape.
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“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,” said Dan Adams, SVP – Data Strategy & Operations at Precisely. “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.”
The new dataset can help businesses improve efficiencies through lower costs and greater time savings by leveraging geodemographic segmentation data with a rich understanding of the population in an area. Aggregated data can help accelerate insights on socio-economic and behavioral characteristics, helping to increase customer engagement and loyalty. The product also classifies segments into 12 lifestyle groups and 63 mutually exclusive neighborhood types that are easily identified by a common naming convention. This highly curated data from Precisely supports organizations in a wide variety of critical uses, 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.
“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,” said Adams. “It’s a powerful combination that provides premium levels of data context for organizations seeking to make confident location-based decisions.”
SOURCE: BusinessWire