“The 48th state to join the union should not be 48th in data,” says Mike Noble, Chief of Research for OH Predictive Insights. If you ever hear Mike speak, you’ll hear this sentiment. He’s not wrong; it is time for Arizona to take a mature and sophisticated approach to monitoring the mindset of the average Arizonan. There are meaningful insights and patterns to be explored that have a significant impact on the economy.
Arizona, a previously sleepy state known for its sunshine, golf resorts, and glimpses of the Old West, has recently emerged as a powerhouse state. Arizona has taken its place on the big stage as it assumed battleground status during the 2020 election cycle and continually absorbs an influx of new residents – both Phoenix and Maricopa County have ranked first in fastest-growing cities and counties. This growth is likely to result in a new congressional seat, and with it an additional electoral vote, after the 2020 Census. Phoenix tied for eighth place for net employment outlook nationwide, according to Forbes*.
As an accompaniment and support to this new position, the Greater Phoenix Chamber and OH Predictive Insights partnered to bring Arizona’s business, political, and education communities, the Arizona Business Index™ (ABI), a barometer of the health of the Arizona economy from the perspective of the Arizona consumer.
The Index provides robust data breaking down over 2,000 demographic combinations, ranging from suburban moms and millennials in the workforce to homeowners and renters.
The Index is modeled after the renowned University of Michigan Consumer Sentiment Index (MCSI), using the same questions and formula, and providing insight into public opinion regarding housing, automobile sales, the job market, the economy, and the personal credit card debt of Arizonans. An observer will be able to see when there is a shift in consumer sentiment and, in return, expect a change in economic activity.
Information relevant to decisions about marketing, human resources, strategic planning, etc. will be provided. For example, during the third quarter of 2020, the ABI revealed a sharp increase in housing confidence, and a surprise increase in job satisfaction, among many more revelations.
The survey is conducted through a monthly online opt-in panel that runs throughout the year. The questions look at the individual’s current situation and future expectations for things such as personal finances, business conditions, and buying confidence of major household items. The ABI is continually updated on a monthly and quarterly schedule, and additions to the standard questions can be tailored to the individual businesses that invest. Interested in learning more? Contact Janelle Tassart at firstname.lastname@example.org to discover more opportunities available via the ABI and to explore investment levels. Current sponsors include the Salt River Project and Arizona Public Service Electric.