How to find out more about your customers with the Significant Variable Report
The EASI Significant Variable report is a good option for customers looking to view specific data on their chosen geography. It’s one of the detailed reports in our Access Reports and On Demand reports products and lets customers choose the variables they want to see. It ranks the chosen category variables according to their EASI rank, from A to E.
EASI customers use the Significant Variable report to identify the unique variables in their existing markets, find similar locations elsewhere for expansion options, and more. The key demographic information in the Significant Variable report allows them to develop successful strategies that help them achieve their business goals and objectives.
What are the EASI Rank and Scores?
Before we dive into this report, here’s a quick reminder about the EASI Rank and Scores.
The EASI Rank is a ranking score based on the variable concentration in the chosen geography, with “1” being the highest. At the top of this report is an overall EASI Rank for the geography compared to the rest of the country.
The EASI Score arranges the EASI Rank into a quintile frequency distribution ranging from “A” (the highest concentration group and top 20%) through “E” (the lowest concentration group and bottom 20%.)
So, a variable with an A+ Score is in the top 20% of the nation for that variable and can be ranked anywhere from 1 to 284 (for example) for that variable. The lowest rank that still achieves an A Score depends on the variable and how it compares to the rest of the country.
Examples of variable categories available in the Significant Variable report
To generate this report, you must start with a state, county, and city. Then, select the relevant variable categories you’re interested in, such as housing type, age ranges, and more.
For example, if looking at housing types, you’ll be able to select:
- Housing types: apartment type and size, detached houses, and farms
- Rental amounts: displayed as ranges like $1,000-$1,249, $1,250-$1,499, etc.
- Housing age: displayed as age ranges of when they were built (1960-1969, 2010 or earlier, etc.)
How to use the Significant Variable Report
Because the report lets you dig deep into the variables that matter to you and your business, you can unearth many different insights that can impact your business.
For example, by looking at age, income, and housing type, you can determine whether there are enough people in your primary market to make opening a new retail location worthwhile. If you’re a pizza chain, you can determine whether adding new pizza options to your menu would be relevant by looking at the number of people who pay for their own streaming services, play video games, and live in apartment housing with more than 20 units.
The Significant Variable report helps companies create a strategy that ensures higher chances of success, no matter the industry or market vertical you’re trying to reach.
Dig into the details with the Significant Variable Report
The Significant Variable report lets you generate a detailed listing of data based on your chosen geography and variable categories. Create one to answer a specific question, like whether you should expand into a new area, add new products to your menu, or what new customers are available in your existing markets.
For more information on the Significant Variable report and how to apply it to your business, contact EASI today. We’d love to help you discover new insights for your business.Share on Facebook Share on Twitter Share on Pinterest