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QWI Query for New Business
#1
I am doing research on my target market - for a business I haven't started yet  and am confused as to whether I should be using the numbers (QWI numbers) for end of quarter 'full' employment or (also) the beginning of the quarter  numbers.  What is the difference , in term of what to use and when?

[Admin: Post title updated for clarity]
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#2
I think you'll have to explain more about what you intend to do with the Quarterly Workforce Indicator numbers. What type of business will it be and how will the data impact the business decisions you need to make?






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#3
(Mon 12 Sep 2016, 07:19)Saul Dobney Wrote: I think you'll have to explain more about what you intend to do with the Quarterly Workforce Indicator numbers. What type of business will it be and how will the data impact the business decisions you need to make?

The purpose is to give a number, in my market analysis, that indicates how many of the people are potential customers.  I have numbers; I am just unclear on whether I should be using JUST the full employment (for the entire quarter) numbers OR if I can come up with a number more representative of my target market, if I use the full quarter numbers AND add some of the beginning of the quarters employment numbers.  I don't want to attempt to shade the numbers.  To me, an employee can work @ the beginning of the quarter then get fired and be jobless.  Shouldn't I account for that? Or, are there some of the beginning of the quarter numbers that should be factored in?  In my qwi searches, there are indicator that I can choose from.  Am I to stay w/only the full quarter employees numbers for the analysis?? Final question:)
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#4
The difference between the two numbers won't make too much practical difference for the business plan which is a mix of estimates and forecasts to try to estimate the scale of the potential. So in this case you might look at the trend in QWI to confirm the level of numerical sensitivity of the estimate and then choose a basis average such as the QWI of the past 12 months. QWI is going to be a very broad cross-section of the population and in practice you should be targeting much much tighter. We normally recommend triangulating a top-down estimate with a bottom-up estimate as in a top-down it's very easy to divide big numbers to get something which seems impressive, but in practice is very difficult to reach.






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#5
QWI is going to be a very broad cross-section of the population and in practice, you should be targeting much much tighter
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