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STI Media Relations
New Add-on to STI: PopStats Delivers Finer-Grained Population Estimates
AUSTIN, TX -- APRIL 8th, 2008 -- Synergos Technologies, Inc., an innovator of population-estimating technology and products, announces today a new product that will help location-dependent businesses better target business opportunities in today's ever-changing trade areas. STI: BlockPoint is the first quarterly population-estimating product to give retailers, developers, and other businesses access to over 1,000 fields of residential data at the "block point" level versus the traditional "block group" level. It is an add-on product to STI: PopStats, the popular quarterly residential population-estimating product.
While the United States is divided into nearly 209,000 block groups, it has over eight million block points. "Estimating populations at the block group level has been the de facto standard in trade area research, but it often presents challenges - especially the further out we get from the 2000 Census," says Robert Welch, President of Synergos Technologies. "One problem is that many previously low-density U.S. block groups are gaining populations they didn't have back in 2000."
Most current population estimates average out population counts across entire block groups, some of which can be several square miles. "Sometimes this can minimize the effectiveness of trade area research," says Welch. "For example, if a block group suddenly gets an influx of residents, it's quite possible that all of the growth could be occurring in just one corner of the block group. The precision of STI: BlockPoint's analysis will solve this problem."
Just as STI: PopStats gets its estimating strength from a unique calculation that combines the U.S. Census with residential zip+four postal codes, STI: BlockPoint also gets its precision from the same methodology. However, STI: BlockPoint takes the population calculation one step further by identifying growth areas within block groups. For example, if 1,000 people have moved into a block group with ten block points, but 70 percent of the people have moved into only three of the block points, STI: BlockPoint will identify those specific three block points and provide both population estimates and growth percentages.
Also, just like STI: PopStats, STI: BlockPoint delivers access to the most robust range of residential population data available today in a quarterly product. Fields of data include households, incomes, home values, expenditures, lifestyles, transience, ancestries, and more. The robustness of this population data meets the varying research needs of a wide range of businesses.
"With its new level of precision and robust data set, STI: BlockPoint both minimizes the challenges of expanding into high-growth block groups and maximizes the business opportunities that exist in these desirable areas," says Welch.
STI: BlockPoint will be updated quarterly. For more information, visit www.popstats.com.
About Synergos Technologies, Inc.
Synergos Technologies provides progressive retailers, developers, and businesses with innovative demographic tools that deliver greater precision and in-depth insight about consumers and businesses. Since the launch of STI: PopStats, the retail industry's first quarterly population-estimating product, the company has continued to launch innovative demographic tools that are used by many of today's fastest-growing restaurants, grocery stores, telecom firms, and other businesses. Today STI: PopStats provides the most robust population estimates quarterly, with over 1,000 fields of demographic data. For more information, visit www.popstats.com.