As part of nurtio.com, we are going through two startup accelerators, one is yesdelft.com and second one is climate-kic.org. We do a lot of customer validation, market research, market evaluation. All to bring our smart virtual gardener to life.
Also as part of scoutbee.com, we do a lot of market analysis, supplier research analysis in particular. For that, we use all publicly available and private data that we can get. Two nice sources of information are worldbank.org and wikipedia.org.
When you combine those two sources you could get nice insights and a bigger picture. For example to do a high-level analysis of which countries to target with your online business you might think about ease of communication and level of income. There are open datasets available that describe exactly that. First one is https://data.worldbank.org/indicator/NY.GDP.PCAP.CD - it contains GPD per capita. The second one is https://en.wikipedia.org/wiki/List_of_countries_by_English-speaking_population - English speaking population of every country. Using a bit of Python and pandas one can combine into a nice table that shows market size for each country. Here Market size is just amount of English speakers and GPD per person multiplied. The full table is here.
Let's try to evaluate the results. First two countries are no surprises, those are USA and UK, but next countries are much more interesting. Usually, people think that Germany and France are non-English speakers, but if you check real numbers those are quite attractive markets because of the combination of high income and a big amount of English speaking people. Despite not that high relative percentage, absolute numbers are still super high. For example, English speaking people of Germany could bring you 2 Trillions of dollars if you manage to convince them to give you all their money made in a year.
If you know any other interesting ways to go into details and utilize data and facts to do market evaluation please share.
Also as part of scoutbee.com, we do a lot of market analysis, supplier research analysis in particular. For that, we use all publicly available and private data that we can get. Two nice sources of information are worldbank.org and wikipedia.org.
When you combine those two sources you could get nice insights and a bigger picture. For example to do a high-level analysis of which countries to target with your online business you might think about ease of communication and level of income. There are open datasets available that describe exactly that. First one is https://data.worldbank.org/indicator/NY.GDP.PCAP.CD - it contains GPD per capita. The second one is https://en.wikipedia.org/wiki/List_of_countries_by_English-speaking_population - English speaking population of every country. Using a bit of Python and pandas one can combine into a nice table that shows market size for each country. Here Market size is just amount of English speakers and GPD per person multiplied. The full table is here.
Let's try to evaluate the results. First two countries are no surprises, those are USA and UK, but next countries are much more interesting. Usually, people think that Germany and France are non-English speakers, but if you check real numbers those are quite attractive markets because of the combination of high income and a big amount of English speaking people. Despite not that high relative percentage, absolute numbers are still super high. For example, English speaking people of Germany could bring you 2 Trillions of dollars if you manage to convince them to give you all their money made in a year.
If you know any other interesting ways to go into details and utilize data and facts to do market evaluation please share.
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