what is prizm? course hero

What is Prizm?

Developed using dozens of authoritative data sources, PRIZM gives you access to over 30,000 data points and can be combined with your own customer data. From marketing strategies and site decisions to merchandising, mobile analytics and media planning, PRIZM powers decision-making.

What do Prizm’s demographics tell us?

Among the key demographic trends evident in PRIZM are the aging Baby Boomer population, the growing prominence of Millennials, more condo dwellers and high-rise neighbourhoods, more older children living at home and increasing cultural diversity, especially beyond Toronto and Vancouver.

How often is Prizm updated?

PRIZM undergoes an annual update, but the latest edition represents a complete rebuild, which typically occurs after every ten years—the time it takes for new neighbourhood formation. Yes. PRIZM is created using anonymized, geodemographic or survey data at the postal code or dissemination area (DA) level in Canada.

How many segments does Prizm feature?

PRIZM features 67 segments that capture current demographics, lifestyles and values in Canada. Developed using dozens of authoritative data sources, PRIZM gives you access to over 30,000 data points and can be combined with your own customer data.

How does Census data help to form a PRIZM group?

Census data helps to form these PRIZM groups using neighborhood types, social rank, household composition, mobility, ethnicity, urbanization, and housing. The system assumes that people with similar cultural backgrounds, needs, and ideas gravitate toward one another and live in neighborhoods that offer affordable advantages and compatible lifestyles. By understanding and grouping households in this manner, marketers are able to take advantage of the data to identify and implement marketing opportunities and strategies. It's the most used neighborhood lifestyle segmentation system in the United States, helping to paint a picture of the people throughout the country.

Is PRIZM effective for large businesses?

According to the creator, PRIZM is especially effective for large businesses, businesses considering new locations, marketers who use direct mail pieces, and others looking to use the right channels and content to reach their audience.

How We Create Our Segments

PRIZM Premier’s 68 segments are defined according to socioeconomic rank, including income, education, occupation and home value as well as 11 Lifestage Groups and 14 Social Groups. LifeStage groups are based on age, affluence, and the presence of children.

Methodology: The Forefront of Innovation in Segmentation

Our industry-leading segmentations are built from the household level up using a patented method of data science. This method culls over 10,000 variables to predict consumer behavior with greater precision.

Who Are My Best Customers?

Evaluate market segments by linking consumer behaviors for shopping, financial, media and much more, to gain powerful insights that allow you to create actionable strategies and tactically execute while benchmarking your performance.

What Are They Like?

Get a sneak peek of MyBestSegments with an in-depth view of Upper Crust. Learn about this segment’s demographic and lifestyle traits, including what they watch and buy, and where they live.

Where Can I Find Them?

Discover the top consumer segments that live in your ZIP Code and uncover a brief snapshot about each segment’s demographic and lifestyle characteristics.

What are the values used in PRIZM?

Among them: Religiosity, Multiculturalism, Civic Engagement and Importance of Price.

How often does the PRIZM update?

PRIZM undergoes an annual update, but the latest edition represents a complete rebuild, which typically occurs after every ten years—the time it takes for new neighbourhood formation.

What demographics are in the PRIZM?

Among the key demographic trends evident in PRIZM are the aging Baby Boomer population, the growing prominence of Millennials, more condo dwellers and high-rise neighbourhoods, more older children living at home and increasing cultural diversity, especially beyond Toronto and Vancouver.