Anderson Economic Group has pioneered advanced techniques in data analysis. We use descriptive analytics, predictive analytics, and decision analytics to benchmark performance, evaluate risk, and reveal opportunities.
The world is awash with data, but much of its value remains locked away in spreadsheets and databases. Making sense of that data is critical for leaders in business, finance, and government.
Anderson Economic Group consultants are experienced in the acquisition, description, analysis (or modeling), and visualization of data, including quantitative, categorical, financial, geographic, demographic, and unstructured data. For the benefit of our clients, we analyze that data using a variety of advanced techniques.
Our analytics are rooted in a deep understanding of the data. We use only trusted sources that follow careful methodologies. We approach second-hand data with a healthy dose of skepticism, and dig deep to understand how the data was collected and how it compares to similar sources.
AEG Data Analytics Services Include:
- Descriptive Analytics
Descriptive analytic techniques explore, describe, and summarize the characteristics of data. We help our clients understand how their performance compares with that of competitors in a peer group; what the size, scale, dispersion, and key characteristics are for customer groups; and what information is available to convey the risks and potential rewards for investment opportunities.
We use statistical techniques, cluster identification analysis, geographic analysis, and industry research techniques for descriptive analytics. This includes creating custom maps using Geographic Information System software to spatially display demographic, customer, and other information. We also use carefully created graphics, charts, tables, and other visual displays.
- Predictive Analytics
Predictive analytic techniques pick up where descriptive analytics fall off. We can analyze underlying relationships in an effort to identify causal relationships. We provide predictive analytics using statistical techniques; geographic analyses including sales-distance analyses and other gravity models; as well as optimization models using the patent-pending Rapid Recursive® methodology.
Decision analytics techniques rely upon descriptive and predictive analytics of data, as well as judgment and “soft data.” For leaders, decision analytics are often the most important set of analytic skills.
Decision analytics usually require the identification of one or two primary objectives among many competing priorities.
Leaders often have multiple possible actions they could take. We develop specialized models to account for a variety of factors that are important to the decision making process. We rely on traditional simulation approaches, such as Monte Carlo simulations and value-at-risk calculations, as well as advanced recursive optimization models, using Rapid Recursive® methodology.
These studies quantify and compare some indicator of interest across multiple geographies. For example, benchmarking studies allow government officials to know if their state has competitive tax burdens or how their students’ performance on tests ranks nationally. Business climate studies factor in all the costs that matter to businesses and allow entrepreneurs to make location decisions and policy makers to make decisions that improve the business climate.
Demographic and Spatial Analytics
These assessments provide a close look at the current and projected demographic and socio-economic characteristics of a community, school district, county, or other defined geographic area. The focus of our analysis can be tailored to fit specific needs, such as estimating population levels, demand for schools, or a tax base.
Financial and Economic Analytics
Samples of Data Analytics Work:
The State Economic Handbook
Annual State Business Tax Burden Rankings
Auto Dealer Market Analyses
Benchmarking in Higher Education
Market Snapshot Reports
Annual Technology Industry Reports
Economic Impact of Large Events