The 10 things you need to know about population forecasts
Knowing how the population will change is extremely valuable for any organisation that is planning for the future. To inform your plans and make confident decisions you will need to rely on a population forecast to quantify the size and characteristics of your target population in a specific place at a given time in the future.
There are many forecasts available, produced by different organisations for various purposes. They each use different assumptions and methodologies. This can have a big effect on the outcome of the forecast. Add into the mix the different geographies and outputs and it is little wonder that it is so challenging to find a reliable source of data that aligns with your business objectives.
Here are ten questions you should ask before relying on population forecast data.
- Who produced the forecast and why? The Purpose
- What year do the forecasts begin? The Base Data
- How are the forecasts calculated? The Method
- What assumptions are made? The Demographic Assumptions
- Where is the population distributed? The Geography
- How is the population distributed? Tops-down or Bottoms-up
- What time period do the forecasts cover? The Time Period
- What are the forecast outputs? The Outputs
- How independent are the forecasts? The Outcome
- How much should I pay? The Cost
To help you answer these, we have collated an ebook to navigate your way through the many population forecasts available.
In this guide we have gathered together our knowledge of the available population forecasts in Australia. Who produces them, what assumptions they use, what outputs are available and most importantly what geography they cover and at what level of detail. Our aim is to help you to build the best evidence base for your critical decision-making, without agenda or bias.
There’s also a handy reference chart to help you select the right forecast for your needs.
Download our ebook: “Which forecast should I use?”
Or if you’d prefer a personal tour of the subject, you can replay our “Which forecast should I use?” webinar.
.id is a team of population experts, who use a unique combination of online tools and consulting to help organisations decide where and when to locate their facilities and services, to meet the needs of changing populations. Access our free demographic resources here.