The Top 5 Reasons You Should Be Using IMPLAN
You need data. And an analytical tool to help you put it to use. We’ve got both.
IMPLAN is the leading provider of economic impact data. Pairing that data with our analytical software lets you perform quick and easy economic impact analyses. With this sophisticated tool, you have the power to model the impacts of events on a given economy or to measure the economic contributions of a business or organization to a given region.
But why IMPLAN? What sets us apart from other providers or other tools?…. We’re glad you asked!
The list of reasons you should be turning to us for EVERY one of your economic needs is a long one, but we’ve worked hard to whittle it down to a mere handful. Below are the top 5 reasons why IMPLAN is something you need to be using right now.
We’ll kick off this list with an obvious one...IMPLAN is built for everyone.
It doesn’t matter where you work and it doesn’t matter how much you know (or don’t know) about economics, you can use IMPLAN.
Academic institutions. Government organizations. Economic development groups. Corporations. Nonprofits. Consulting firms. Whatever—it doesn't matter.
This tool is truly designed to benefit any group in any industry:
- You’re an economic developer working for a state and local government chamber that needs to assess a series of projects in the area? You can use IMPLAN.
You’re a small business owner that needs to quantify the economic impact of your operations to demonstrate the role that you play in supporting the local economy? You can use IMPLAN.
You’re a professor conducting research on the impacts of tourism in a nearby area on behalf of a local academic institution? You can use IMPLAN.
You’re a small nonprofit group struggling to secure funding and need to model your group’s economic contributions in order to leverage for favorable legislation and an increase in government grants? You can use IMPLAN.
It doesn't matter where you work or what you do, IMPLAN can make your job easier.
4. Powerful Metrics
We want to be clear, just because IMPLAN is a tool that can help anybody does NOT mean that it’s unsophisticated. In fact, it’s quite the opposite: our software arrives at its economic impact results through a series of expansive mathematical calculations that span the software’s entire database of interrelated input-output matrices.
This means that, while IMPLAN is easy to use and can be used successfully by all, the task it performs is very powerful.
Thanks to this sprawling network of mathematical computations, the tool can quickly deliver you the information you need. And that information can serve a myriad of purposes.
Whether you’re seeking to model the economic ramifications of a hypothetical business relocation with the goal of optimizing site selection, to assess a proposed renovation project to an institution in the local area, to translate your effort into numbers in order to demonstrate the value of your work to contributing shareholders, or any of the countless other uses, we know that having powerful metrics in your corner is invaluable.
IMPLAN arms you with cold hard facts. Through them, it presents opportunity without limitation.
In addition to increasing the value of your business or organization, our data and analytical tool can also increase the value of you. That’s right, you personally.
The IMPLAN brand and reputation are so widely recognized and respected throughout the workforce that merely associating your research or work portfolio with IMPLAN makes it, and you, more admirable.
The growing need for businesses to understand and promote their economic value puts candidates with IMPLAN skills at the top of every list.
When it comes down to it, having experience with our data and software doesn’t just make your company look good, it makes you look good.
2. No secrets
As sophisticated as our data and software are (see reason 4!), it’s completely transparent. With IMPLAN there are absolutely no black boxes and no secrets.
While the software's calculations are performed using classic input-output techniques paired with regional social accounting matrices (SAMs), everything that it does is completely visible to you. Users are able to access and view any and all of the background data used by the software to create their personalized economic models.
That same background data is also completely customizable, so you can actually alter it to best reflect your area-of-interest, or even modify spending patterns within the software to best reflect your actual firm within an industry.
Furthermore, in order to actually use IMPLAN and walk away with a number you can report, you only need ONE piece of information, and that’s it! You bring one piece of data to the table, and the software will do the rest for you. Perhaps you have more than just one piece of data? Maybe you have access to quite a bit of data on your company or on the scenario you’d like to model? Even better! One of the best things about IMPLAN is that the more information you can bring to it, the more thoroughly it can help you!
And IMPLAN always lets you see as much (or as little) of that process’s inner-workings as you choose.
1. More accuracy
And so we’ve arrived at the top of the list; the number one reason why you should be using IMPLAN.
We’ve said a lot in this article, but at the end of the day, there’s really only one criterion by which you should judge your data provider...and that’s accuracy.
Regardless of how universal a product is, regardless of how powerful its data is, regardless of how much respect it brings you or your work, and regardless of it’s honesty, when it comes down to it...the one thing that matters most is quality. And just as it leads the field in each of those other categories, IMPLAN also offers the highest quality data of any provider in the industry.
Stop and ask yourself, “Why should I work as hard as I do to model economic impacts if I’m going to immediately compromise the quality of my work by using inaccurate base data?”
IMPLAN’s data is universally recognized as the most accurate and reliable on the market. Our data is constantly vetted by industry-leading research analysts, so our users know they can stand behind their metrics with unshakeable confidence.
Our reputation as the most trusted in the industry is something we don’t take for granted. As the pioneer of automated economic impact modeling, IMPLAN has a rich history of producing the highest quality data and we plan, with enthusiasm, to continue delivering it long into the future.
Take the first step now! Request a free personalized demo today to learn more.