Custom Economic Modelling
Understand how region, city, demographics, industry and sector impact your organisation
Experian’s economic consultancy team provides a range of analysis and modelling services to our clients. These include data analytics, scenario analysis, economic impact modelling, demographic projections and custom forecasting.
We produce a range of forecasts which form the basis of much of our consultancy work. Our consultancy team can combine your information with our proprietary data and various internal and external sources to understand how changes to economic and demographic factors have impacted your customers in the past, and provide a basis for forecasting the future. We make sense of trends and changing relationships by drawing on a wide range of analytical and econometric techniques.
We provide economic consultancy support to specify and build scenarios. Scenarios can help you understand how macro-economic changes will affect a particular industry sector and region or how particular developments will shape future prosperity.
Our models can assess how changes to the following factors will impact economic growth:
- Demography and socio-economic profile
- Industry profile
- Infrastructure development
- Policy intervention
- Skills and qualifications
Economic impact modeling provides estimates of how changes to activity in an area, industry or organisation will have a knock-on effect throughout the rest of the economy through supply chain linkages and changes in consumer spending. Our approach enables analysis at local area and industry level.
Custom forecasting models, built by our consultancy team, to your design allow you to run economic scenarios in-house. The models are built to meet your requirements and we provide full technical support and training. We have built custom econometric models for a number of clients in construction, utilities, financial services and the public sector.
Sensitivity testing and stochastic forecasts are methods that can be used to produce a band of confidence around a central forecast and are helpful for clients wanting to quantify the uncertainty that is inherent to any view of the future.
The economics consultancy team customises Experian forecasts to cover a wider range of industry sectors, produce occupations and skills forecasts or forecasts for non-administrative boundaries like catchment areas or postal geographies.
What can you use custom economic modeling for?
Identifying market opportunities or risks by understanding how changes to the economy will impact your customers or residents.
Scenario and sensitivity analysis is used to test and develop appropriate strategy to plan for the future.
Economic impact studies demonstrate the value that a particular organisation or industry contributes to the local and national economy and can also be used to help prioritise policy interventions.
Customised forecasts provide a data set focused on your needs and priorities.