Population & Predictive Analytics
FAC offer a full suite of economic forecasting, scenario planning and modelling experience. Our in-house team operates a macro and sectoral model of the all-island economy using established macro-economic models, which gives us the framework for incorporating forecasting and scenario modelling into client assignments. We collate and interrogate diverse data sources to analyse, model and visualise data in a clear and comprehensible way.
Getting the most out of analytics means gaining clear, timely perspective and unlocking hidden insights into “what-happened?”, FAC combines powerful capabilities to maximize descriptive analytics against massive data volumes with time intelligence, data mining and profiling, spatial and demographic analysis and more ― providing a rich data foundation primed for analysis.
We harness the power of data to help shape strategy and policy development, forecast growth and development needs, assess land use requirements, and test the feasibility and economic benefits of investment. Our team of experts present evidence to public inquiries and examinations. We apply rigour to our analysis and know-how to articulate what we find in clear, accessible and informative reports.
Our Demographic Projection Models estimate future population and growth at national, regional and small scale. Changing demographic profiles have a fundamental impact on all aspects of development, from housing needs, commercial and retail: the size and composition of the population and labour force, geographic breakdown and socio-economic characteristics – all are vitally important.
An uncertain economic environment makes it difficult to have a clear view of prospects in both home and growth markets. FAC uses econometric modelling techniques to link socio-economic projections with industry trends to create revenue projections for clients. A number of future scenarios are used to allow clients to prepare for a range of potential eventualities.
These studies estimate the potential effects and any mitigation required. This includes assessment of the numbers of jobs that will be created, impacts on local spending, the population that will be housed, and any impacts that new resident will have upon school requirements or healthcare and open space provision.