World Data Lab specializes in creating economic and demographic models that help organizations make data-driven decisions. Our global team of data scientists, economists, demographers, and developers are passionate about combining new data sources with groundbreaking methods to push the frontiers of what is knowable.
Advancements in data science are rapidly creating a new field: spatial demography. Starting in 2017, we partnered with GeoVille and the European Space Agency to develop a new technique for predicting and forecasting the age structure of a population living in a given city block. By integrating earth observation data with sophisticated demographic techniques (including Bayesian Model Averaging), we have pioneered a new product called AgeSpot.
AgeSpot computes the number of persons in a designated age bracket likely to live in a particular area. Results can be obtained up to the 50 by 50 meters building block level. AgeSpot’s methodology involves establishing a class of linear regression models. These models are then integrated into a Bayesian Model Averaging approach where we estimate the explanatory power of each linear model. The resulting estimates are then used to create a weighted average of the results of all models. To execute forecasts, we also include an Urban Growth Model which shows which areas are expected to be urban or rural in future years. The main sources of input data are satellite imagery and census information.
We are currently interested in partnering with global companies as champions for the further roll-out and testing of AgeSpot in new cities and markets. Corporate champions provide a general use-case for the application of the AgeSpot model in addition to requirements. We then customize AgeSpot for the champion's needs and deliver a final product to inform the organization's strategy and planning efforts.