You can find the demographic composition around a bank using demographic mapping software.
Using a combination of your locations and the Maptitude Geodemographic Segmentation layer, you can identify the key populations driving the growth of your most successful sites.
In this article, we use the free USA bank locations to identify the demographic types that the branches are serving.
The following steps outline how to find the demographic composition around a bank:
- Download a free mapping software trial of Maptitude Desktop or use your existing Maptitude Desktop license.
- Download and install the free Bank data and Geodemographic Segmentation data.
- Add the Bank layer and Geodemographic Segmentation data to your map by going to Map>Layers>Add Layer.
- Use the zoom and pan tools or the Edit>Find command to display the bank you want to examine.
- In the Display Manager, right-click on the US Bank layer and choose Make Working Layer.
- Choose the Select by Pointing tool from the Selection toolbar and click on the bank to select it.
- Choose Tools>Analysis>Buffers to display the Buffers dialog box.
- Choose Fixed Sizes as the method and enter a buffer size (e.g., 3 miles).
- Check the Calculate Demographics and Create Report
- Click to display the Demographic Settings dialog box and choose Segmentation from the With Layer drop-down list. If you also want to count the number of banks within the buffer, choose US Bank from the Layer drop-down list in the Feature Count section and None from the Subtotal By drop-down list.
- Click OK to close the Demographic Settings dialog box and click OK again to create the buffers and the report.
The resulting report shows a breakdown of the communities surrounding your selected bank. You can use the Demographic Handbook included with the Geodemographic Segmentation data package for an in-depth description of each segment and subsegment. If you chose to count the number of banks within the buffer, it will also include that total.