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Demographic analysis is the study of a population based on factors such as age, race, and sex. Demographic data refers to socioeconomic information expressed statistically including employment, education, income, marriage rates, birth and death rates, and more.Governments, corporations, and nongovernment organizations use demographics to learn more about a population's characteristics for many purposes, including policy development and economic ECONOMY ECONOMICS
ECONOMY ECONOMICSDemographicsBy ADAM HAY
Reviewed by CHARLES POTTERS on July 28, 2021What Are Demographics?
Reviewed by CHARLES POTTERS on July 28, 2021What Are Demographics?Demographic analysis is the study of a population based on factors such as age, race, and sex. Demographic data refers to socioeconomic information expressed statistically including employment, education, income, marriage rates, birth and death rates, and more.Governments, corporations, and nongovernment organizations use demographics to learn more about a population's characteristics for many purposes, including policy development and economic market research.For example, a company that sells high-end RVs may want to reach people nearing or at retirement age, and the percentage of those people who are able to afford their products.
<h2> KEY TAKEAWAYS</h2>(☞^o^) ☞ Demographic analysis is the collection and analysis of broad characteristics about groups of people and populations.
(☞^o^) ☞Demographic data is very useful for businesses to understand how to market to consumers and plan strategically for future trends in consumer demand.
(☞^o^) ☞The combination of the internet, big data, and artificial intelligence is greatly amplifying the usefulness and application of demographics as a tool
