The significant difference with the Semcasting Income Estimate is that it takes into account factors such as cost of living, two income families, tax rates, family composition and life stage into the development of a score. By including household level information into hundreds of local and regional level models and then aggregating the results, both geographic as well as demographic factors play a role in more accurately predicting household incomes.
The practical impact of the Semcasting approach is a broader distribution of annual incomes up to $2 million across 27 income ranges. Semcasting is especially accurate when targeting households with annual earnings over $150,000, which is where the great majority of direct marketing campaigns are focused. Results have been measured to be over 60% more accurate than modeled scores from other providers because unlike a single predictive model which will generalize and distribute score results across the nation, our effort to build hundreds of local level models is not a one-size-fits all approach that can dilute results and compromise accuracy.
- Reports affluence levels over 30% more accurately on average compared to the three major compilers of aggregated data
- Provides particular accuracy when locating households with earnings in excess of $150,000, with 100% lift over other data providers in this range
- Targets local demographics using custom models to reflect market conditions for different geographic areas, improving accuracy, and increasing ROI and response rates