AfricaEye, an online solution designed for investors, businesses, researchers and entrepreneurs, has announced the launch of its improved portal which now has the ability to give its clients access to market analysis and demographic insights to an even greater number of both South African cities and cities across Africa.
AfricaEye, which was originally launched by Fernridge Consulting, a pan-African research and consulting firm, in November 2012, provides registered users with accurate demographic and expenditure data by area for South Africa and selected African cities, resulting in better decision-making for store expansion, entry to new markets and property development.
Underpinned by Fernridge Consulting’s 10-year track record and methodologies based on geographic information systems (GIS), AfricaEye’s visual interface displays the market potential of a user-defined area, together with competitor and complimentary information, and the number of households by income group.
In its premier offering, AfricaEye gives users access to data from 100 South African and 20 African cities and major towns that provides an in-depth report for a user-defined catchment area.
AfricaEye also aims to make its service as accessible as possible by offering a more basic product with the ability to source data from 650 South African and 30 African cities and major towns resulting in a standard report.
“With AfricaEye, any individual or institution around the world now has access to affordable, industry-tested, reliable, granular household income and retail expenditure data to improve planning and map their market potential and African expansion more accurately,” says Sybrand Strauss, MD of Fernridge Consulting.
AfricaEye was developed to make Fernridge Consulting’s existing datasets available in an automated, customisable and user friendly manner to a broader market.
The portal provides granular information and map displays that drill down into the specific demographics of any area as selected by the user. Improvements in mapping technology and bandwidth capacity mean that the data can now be made available in a more cost-effective manner.
The AfricaEye dataset makes use of aerial photography, property research, demographic data, global positioning system (GPS) fieldwork and industry-tested consulting experience and methods.
“For many individuals and organisations, the cost to access this type of data is prohibitive,” says Strauss. “With AfricaEye we are able to provide on-demand access to data that was previously only available to large retailers and property developers – information like micro-area household income and retail potential – to anyone globally who needs this kind of data for sub-Saharan Africa.”
Fernridge’s methodology and approach displays each data point as a dwelling on the AfricaEye data platform, with households classified in terms of “type of dwelling” and “household income”.
The income ranges are derived from up-to-date property values. AfricaEye takes into account the dwelling type, size, age and area as lifestyle indicators. The methodology takes into account living standards of areas comparative to each other, incorporating fluctuations in the property market by means of the affordability of dwellings.
“We believe our market knowledge and 10-year relationship with customers such as The Spar Group and McDonald’s is proof of the value of this type of information, as we are able to provide our customers with analysis, such as accurately predicting sales forecasts for new stores that open within our regional footprint,” concludes Strauss.