What Is an EASI® Trend Report?
Looking for a new city to open your latest franchise restaurant? Curious about whether there are enough potential customers in the area you’ve chosen for your new retail location? Need ideas for a new product or service that’ll jump-start sales for your current locations?
The EASI® Trend report is what you need to answer these and many other questions you might have. Our customers use it to track their progress towards their business goals today and stay on track for success five years from now.
The Trend report comes in three levels of detail: Executive, Advanced, and Professional. We’ve already discussed the Advanced Trend report, so let’s take a closer look at the Executive and Professional.
How data is organized in the Trend reports
The Trend reports cover 350-1,400 data variables for a specific geography. Thevariables cover different categories, like Housing, Population, and Income, in various combinations based on report level. The data is grouped by year (2020, 2022, and 2027 forecast) to see how things change over time. EASI uses input data for 2020 and 2022 from the U.S. Census to do all their updates and five-year forecasts. EASI’s data analysis team generates the forecast and growth numbers using historical data and our proprietary analysis methods to help customers stay on the path to success today, and in the future.
What you’ll find in the Executive Trend report
The Executive Trend report is a high-level summary of the trends in the geography. It summarizes overall trends in demographics, population, households, housing, and income. EASI customers use this as the starting point for any new project or initiative since it gives them a solid foundation.
What you’ll find in the Professional Trend report
The Professional Trend report is the second-level summary of the trends in the geography. It breaks down the data into smaller chunks than the Executive Trend report so you can learn more about the area. For example, it offers several more data points in the Population Characteristics category; breaks down the Population category into multiple categories by Age, and Gender and Age; and displays detailed Education Characteristics that summarize school enrollment and attainment across age groups and school types.
Ways to use these Trend reports
Our customers use Trend reports to make data-driven decisions across their organizations and, ultimately, help them grow their businesses. They’re used to evaluate property decisions for residential and commercial real estate, identify neighborhoods with standout retail opportunities, and find up-and-coming regional areas for them. Customers use the Trend reports to confirm their previous outcomes and identify new ones to aim for in the future.
Using this Executive Trend report for Eugene-Springfield, OR, we learn:
- The population is forecasted to grow 1.6% by 2025 to 390,545. That’s nearly 10% growth from 2010.
- More than half of the population is projected to rent their homes, not own them.
- The median number of vehicles per household is steady at 2.2 cars.
- The average household income is forecast to rise 8.3% by 2025 to $83,550.
What does this mean? The general Household characteristics can indicate where new retail locations might be viable since renters and homeowners have different needs. The vehicle data in the Housing characteristics can help determine transportation gaps. It can indicate where additional public transportation is needed or where cities could test new traffic flow patterns and pedestrian-only areas.
Because the Professional Trend report combines some of the data categories and expands on others, you can learn much more about the given geography. Here’s a quick comparison of the Household Characteristics data in both reports. You’ll see the Professional Trend report contains more data points under similar categories and also combines a few to give you more detailed info about the area.
Using the Professional Trend report for Eugene-Springfield, OR, we learn:
- The median age is projected to increase 5% by 2025 from 51.7 to 54.3.
- The number of married families will decrease by 0.2% by 2025.
- Over 30,000 families in the area are forecast to earn between $100,000-199,000/year.
Real estate developers could use this data to identify housing gaps and plan for new construction. Financial institutions could combine the Labor Force and Occupation data with Housing and Employment characteristics to find places to build new banks. They could also use it to identify new product lines that may be useful to the area, such as mortgages in areas with a lot of new construction. Chambers of Commerce could use the Age and Travel data to lobby companies to move their locations to offer better commuting options to employees. Retirement community facility owners could use the enhanced Age and Income data to determine where to build new facilities, as this data will directly impact the pool of potential residents.
Learn more with an EASI® Trend report
Companies who want to know more about the people and places where they do business (or want to do business) order an EASI® Executive or Professional Trend report. Whether you’re looking for an overview of the area or a deep dive, the Trend report can help.
Our customers use them to determine what’s happening in their chosen geographies today and get a glimpse into the future with the forecast numbers. They use these reports to make data-driven decisions and grow their businesses.
So, whether you’re using a Trend report to evaluate property decisions for residential and commercial real estate, identify neighborhoods with standout retail opportunities, or find up-and-coming regional areas, they’ll give you the data you need. Ensure your business is on track to meet your current objectives and identify ones you can aim for in five years.
Contact EASI today to learn more about the Executive or Professional Trend report. We’ll help you apply it to your business so you get all your data questions answered.
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