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From the Help Desk: How to Analyze all PRIZM Segments at Once
Posted on Dec 02, 2019 by Admin
Hi everybody! We’re back this week with another question from our Help Desk. This time featuring SimplyAnalytics Canada. Let’s get started!
Question: How can I analyze all of the PRIZM5 segments for my target area so I can identify the most common segment?
Note: For those unfamiliar with the PRIZM data, this dataset is a marketing segmentation system where households are grouped into one of 68 unique segments based on: demographics, lifestyles, consumer behaviour and settlement patterns in Canada. These segments help you understand what customers are buying, doing and thinking. This is ideal for target marketing, trade area analysis, merchandising and media planning.
Please give us an email if you would like a free trial to the PRIZM data - it is available for both SimplyAnalytics USA and SimplyAnalytics Canada.
Answer: The quickest and easiest way to analyze many similar variables at once is to utilize the Related Data Table. The Related Data Table automatically adds in any similar variables to your chosen one. In this example, we’ll add one PRIZM segment, and the report will add all of them in. This can be used with any variable or dataset - give it a try!
Here’s how:
1.) Click on New View towards the top right, then create under Related Data Table
2.) Within the Data block, select any of the PRIZM segments, close the panel, and click on Done.
3.) The report will automatically add all PRIZM segments in the category you selected (households, in this case). Click on your location and Sort Descending to view the top segments in the given area. This is a powerful tool for users who want to market a product to a specific segment.
BONUS TIP: Within the Data Documentation page in the Support dropdown (top-right) users have access to the 2019 PRIZM Marketer's Handbook. Check out the super helpful Quick Reference PRIZM Guides on page 212 and 234. This is a great starting point for marketers to determine which PRIZM segments they want to focus on depending on age, children, urbancity, income, etc. For example, if you want high income suburban young families, you'd want Pets & PCs. You can favorite that PRIZM Segment, and use it in a Ranking Report to find out where all the Pets and PCs folks live in your requested geography.
That’s it for this week’s blog! Stay tuned for more.
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