We can all take advantage of the Open Data movement. The government of Ontario publishes certain data sets. Anyone (including you) can use this data to understand patterns and make decisions. As a broad example of how you could use open data, today, we’ll examine the projected population data set that the Ontario Government publishes annually.
Let’s pretend that you are a business that wants to understand what the population trend might be for a specific age group. As you choose your marketing campaign, you might decide that as you segment by age, the best segment to target is the 34 – 45 year old group. But if you are going to build a business, you want to make sure that your market will be growing.
Source data: https://www.ontario.ca/data/population-projections
Using the Population Projection tables, you can derive the following charts and graphs. As you can see, the 34 – the 45-year-old group is expected to grow over the next ten years.
You can download the worksheet here to understand how the data is translated into a graph by a specific age range. Even though your selected age-group will grow, you could also explore whether other age-groups might be growing more quickly, or if there are other factors that you should consider. We can look at these details in future data-focused posts.