Worldwide Economic and Demographic Information

IPR has spent many years developing extensive demographic and economic databases, covering all major countries in the world.

The databases synthesize information from numerous publicly available and proprietary sources. Here are the most commonly used sources:

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The various data sources are aligned to common sets of definitions and classification systems, and are reconciled before they become a permanent part of the databases. The result is a consistent set of demographic and economic indicators that are used to support IPR’s Opportunity Analysis and Forecasting and Early Warning System solutions.

The demographic databases provide annual historical data back to 1994 for 224 countries, while the economic databases extend back to 1996 on a quarterly basis for 140 countries.

IPR also develops projections into the future for the key demographic and economic series, and these projections are used to support the forecasting we carry out as part of our client engagements. The databases are updated continually as new data is published, either on a high-frequency monthly or quarterly basis, or less regularly on a semi-annual or annual basis.

Find out more about IPR’s Worldwide Economic and Demographic Databases.

How do IPR’s Demographic and Economic Databases Differ from Other Data Available?

  • The databases are developed based on the integration/synthesis of multiple sources, have been aligned to reflect common classification systems, and take into account source reliability.
  • They use international standard classification systems, rather than proprietary or obsolete classifications, making it possible to do reliable international comparisons.
  • A large proportion of the database is sourced directly from national statistics office publications, reducing the risk of picking up incorrect or estimated data being quoted as actual.
  • They provide reasonable and carefully considered forecasts along all dimensions that reflect relevant relationships to economic indicators, as well as the interrelationships that exist among the demographic measures, such as the industry/occupation groupings for employment.

What Kinds of Demographic Data are Available?

  • Population by age
  • Number of households
  • Education enrollment by K-12 and higher education levels
  • Labor force, employment and unemployment
  • Employment by detailed industry and company size
  • Employment by detailed occupation by detailed industry
  • Establishments by employment size

What Kinds of Economic Data are Available?

  • GDP
  • Domestic Demand
  • Machinery & Equipment Investment
  • Exports/Imports
  • GDP component data (Household Consumption, Government Spending, Investment, Construction, etc.)
  • GDP by Industry
  • High-frequency economic data

Explore the Power of IPR Demographics

IPR’s demographic data can be used with diffusion modelling to estimate future product demand.

A Bass Diffusion Model is a useful tool to forecast the adoption of a new product in a given market. The model has three parameters (N, p, q):

  • N is the potential size of the market;
  • p is the coefficient of innovation. This value relates to how quickly the product reaches peak sales; and
  • q is the coefficient of imitation. This value relates to the magnitude of peak sales.

The following example shows how a diffusion model could be used to estimate sales of math software aimed at scientists and mathematicians in the UK.

Determination of Potential Market

To start we need a potential market size and this comes from IPR’s demographics. For the purposes of example, say that each employee in the following occupations is a potential user of the software:

  • Physical and earth science professionals
  • Mathematicians, actuaries and statisticians
  • Life science professionals

And to give us a way of seeing the potential across different verticals, we can split the market into the following:

  • Manufacturing
  • Retail and Wholesale
  • Transportation
  • Financial Services
  • Information and Communication
  • Professional and Scientific Services
  • Healthcare
  • Other

The potential market can be shown as a table of employee counts by occupation by vertical by time:

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Determination of the p and q coefficients

Initially p and q are set to published values for products and services that are closest to the type of product we are modelling. The literature contains different sets of p and q that have been fitted to real life product adoption data. After the product has been launched and sales data emerges, the p and q can be fine-tuned. The coefficients can differ between occupations to reflect their adoption rates.

Generation of the adoption curves

Knowing N, p and q, we can generate adoption curves for different occupations and verticals. The formula for doing this is fairly simple and is well covered by the literature. In the example below the healthcare vertical has been chosen:

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Find out more about IPR’s Worldwide Demographic Database.

Explore the Power of IPR Economics

IPR offers “headlight capabilities” to help you better anticipate short-term economic dynamics using high-frequency economic indicators.

IPR maintains a robust database of high frequency (weekly and monthly) economic indicator data for all the world’s major economies. This data allows IPR to better understand and forecast economic growth, and provides “headlights” on upcoming dips and peaks in growth, which in turn help to drive our market models. Using high-frequency economic data, IPR produces a proprietary Weighted Composite Index (WCI).

How Does the WCI Help, and what is Included in the Analysis?

  • The WCI is a high frequency economic indicator and is updated monthly.
  • The WCI provides “headlight” capability to anticipate economic growth one to three quarters in advance.
  • For each economy, a dashboard shows how the WCI of the current period compares with the WCI of the previous period, providing a guide to whether the economy is likely worsening, staying the same or improving.
  • In addition to the WCI, each dashboard highlights key economic indicators for that economy and shows the relationship between economic growth and the growth of each specific indicator:

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Aside from the WCI, what Other Information is Available?

IPR performs country-level analyses that provide historical and forecast data for key economic variables of interest for 224 countries. Quarterly historical data is available in each of 140 countries for 28 economic variables, obtained from individual countries’ national statistics sites; this sourcing ensures the accuracy and precision of the data. For each of these countries, quarterly forecasts going out six years are available for key eight economic variables. Annual data – history plus forecasts going out six years – is available for all 224 countries in IPR’s database.

Find out more about IPR’s Worldwide Economic Database.

What Indicators are Included in the WCI Dashboards?

WCI dashboards allow a quick assessment of a country’s recent economic history and the likely direction of the economy in the short term. The indicators covered vary from country to country but contain such items as:

  • Real GDP
  • Employment growth indices
  • Retail sales indices
  • Consumer confidence indices
  • Counts of unemployment claims
  • Housing starts
  • Economic sentiment indices
  • Purchasing managers’ indices
  • Industrial production indices
  • Stock price indices
  • Energy price indices
  • Manufacturing indices
  • Business confidence indices

What Other Types of Economic Data and Analyses are Available?

  • Economic data and forecasts by industry
  • R&D data by country and industry
  • Energy price data
  • IT-related monthly indicator data

Uses of IPR Country-Level Economic Forecasts

  • Planning tool for anticipating future opportunities and risks: IPR provides the assumptions underlying its forecasts, and an analysis of factors affecting the forecast, identifying how the economic and political environment will shape the business environment.
  • A country comparison tool: Economic data can be customized to a common base year, to help in the evaluation of opportunity across countries.
  • A tool to identify IT market opportunities: IPR’s Economic Database provides unique information on investment – most importantly, investment in Machinery & Equipment – to help in identifying opportunities in IT and IT-related markets.
  • A tool for helping model IT and other markets: Various economic data, especially quarterly and monthly data, can be used for demand-side econometric modelling to anticipate trends within the IT market and other types of markets.