Case study
How Business Isle of Man developed a trusted demographic model and profile with CACI’s data
Summary
Business Isle of Man is an Executive Agency of the Isle of Man Government’s Department for Enterprise, acting as a key decision making and advisory body supporting the Government’s ambition for long-term economic prosperity. Its purpose is to help create an environment for key sectors to achieve sustainable growth while establishing the Island as an internationally well-regarded home for export business.
The Department has a key role to play in the achievement of the Programme for Government’s stated intention to be an Island of Enterprise and Opportunity. Supporting economic development is of strategic importance for the Island’s future growth and prosperity.
Company size
50
Industry
Non-Profit
Products used
Challenge
Business Isle of Man was approached by a property developer keen to attract larger UK multiples. These businesses were asking for a demographic report, so they could assess the commercial viability case for their brands. None of them understood the Isle of Man’s demographic.
Solution
Jonathan Platten, Economist for the Department for Enterprise:
“We commissioned CACI to develop a trusted demographic database and map that showed detailed profiles of our population across the Island. CACI impressed us with their expertise and reputation in the field of socio-demographics.”
The Isle of Man can be considered alongside the UK as part of CACI’s trusted dataset and modelling, with the same granular, visual demographic detail. For the first time, investors, retailers and businesses can build reliable modelling into their business cases at postcode level.
Results
Business Development Manager, Rachel Hopkinson expresses the benefits clearly:
“We have never before seen such a detailed analysis of our population across the island, including Douglas (the Island capital). Although our Island population is under 100,000, there is a big opportunity for retail and leisure businesses. Isle of Man retailers perform exceptionally well compared to the UK because we have a wealthy population and a captive audience. Now, we have the demographic data to show why this is the case.”
As well as commissioning CACI to produce the dataset and report, Business Isle of Man has entered into a collaborative ongoing relationship with CACI to help provide further, specific analysis for Island businesses and investors.
