Venture Forward Data Used To Support Missouri Economic Planning
The University of Missouri's extension program leaders have created an interactive dashboard using GoDaddy Venture Forward's geographical data to help counsel microbusinesses and educate local residents. The dashboard tracks the microbusiness activity index and microbusiness density over time, allowing MU Extension staff to visualize data and compare metro versus non-metro areas or differences by economic type in Missouri.
The team began using Venture Forward data during the pandemic when online business information became crucial. The dashboard helps Small Business Development Center counselors advise entrepreneurs on growth strategies. The project also combines USDA economic type information with Venture Forward density data to analyze trends in different economic sectors like agriculture, manufacturing, and recreation.
The initiative aims to support economic development, particularly in rural areas, by providing valuable insights into online microbusiness trends and helping entrepreneurs understand how to succeed in the digital marketplace.
I responsabili del programma di estensione dell'Università del Missouri hanno creato un dashboard interattivo utilizzando i dati geografici di GoDaddy Venture Forward per aiutare a consigliare le microimprese e educare i residenti locali. Il dashboard tiene traccia dell'indice di attività delle microimprese e della densità delle microimprese nel tempo, permettendo al personale della MU Extension di visualizzare i dati e confrontare le aree metropolitane con quelle non metropolitane o le differenze per tipo economico in Missouri.
Il team ha iniziato a utilizzare i dati di Venture Forward durante la pandemia, quando le informazioni commerciali online sono diventate fondamentali. Il dashboard aiuta i consulenti del Centro di Sviluppo delle Piccole Imprese a consigliare gli imprenditori sulle strategie di crescita. Il progetto combina anche le informazioni sul tipo economico del USDA con i dati di densità di Venture Forward per analizzare le tendenze in diversi settori economici come l'agricoltura, la manifattura e il turismo.
L'iniziativa mira a sostenere lo sviluppo economico, in particolare nelle aree rurali, fornendo preziose intuizioni sulle tendenze delle microimprese online e aiutando gli imprenditori a capire come avere successo nel mercato digitale.
Los responsables del programa de extensión de la Universidad de Missouri han creado un tablero interactivo utilizando los datos geográficos de GoDaddy Venture Forward para ayudar a asesorar a las microempresas y educar a los residentes locales. El tablero rastrea el índice de actividad de microempresas y la densidad de microempresas a lo largo del tiempo, lo que permite al personal de MU Extension visualizar datos y comparar áreas metropolitanas con no metropolitanas o diferencias por tipo económico en Missouri.
El equipo comenzó a usar los datos de Venture Forward durante la pandemia, cuando la información empresarial en línea se volvió crucial. El tablero ayuda a los consejeros del Centro de Desarrollo de Pequeñas Empresas a asesorar a los emprendedores sobre estrategias de crecimiento. El proyecto también combina la información sobre tipos económicos del USDA con los datos de densidad de Venture Forward para analizar tendencias en diferentes sectores económicos como la agricultura, la manufactura y el ocio.
La iniciativa tiene como objetivo apoyar el desarrollo económico, particularmente en áreas rurales, proporcionando conocimientos valiosos sobre tendencias de microempresas en línea y ayudando a los emprendedores a entender cómo tener éxito en el mercado digital.
미주리 대학교의 확장 프로그램 리더들이 GoDaddy Venture Forward의 지리 데이터를 이용해 인터랙티브 대시보드를 만들었습니다. 이 대시보드는 마이크로 비즈니스에 대한 상담을 제공하고 지역 주민들을 교육하는 데 도움을 줍니다. 대시보드는 마이크로 비즈니스 활동 지수와 마이크로 비즈니스 밀도를 시간에 따라 추적하여 MU 확장 직원이 데이터를 시각화하고 미주리의 도시 지역과 비도시 지역 간의 비교 또는 경제 유형별 차이를 분석할 수 있도록 합니다.
이 팀은 팬데믹 기간 동안 온라인 비즈니스 정보의 중요성이 대두되면서 Venture Forward 데이터를 사용하기 시작했습니다. 이 대시보드는 소기업 개발 센터의 상담자들이 기업가에게 성장 전략을 조언하는 데 도움을 줍니다. 이 프로젝트는 또한 USDA의 경제 유형 정보와 Venture Forward의 밀도 데이터를 결합하여 농업, 제조업 및 레크리에이션과 같은 다양한 경제 부문의 트렌드를 분석합니다.
이 이니셔티브는 온라인 마이크로 비즈니스 트렌드에 대한 귀중한 통찰력을 제공하고 기업가들이 디지털 시장에서 성공하는 방법을 이해하는 데 도움을 줌으로써 특히 농촌 지역에서 경제 개발을 지원하는 것을 목표로 합니다.
Les responsables du programme d'extension de l'Université du Missouri ont créé un tableau de bord interactif en utilisant les données géographiques de GoDaddy Venture Forward pour aider à conseiller les microentreprises et à éduquer les résidents locaux. Le tableau de bord suit l'indice d'activité des microentreprises et la densité des microentreprises au fil du temps, permettant au personnel de l'extension de l'UM de visualiser les données et de comparer les zones métropolitaines avec les zones non métropolitaines ou les différences par type économique dans le Missouri.
L'équipe a commencé à utiliser les données de Venture Forward pendant la pandémie, lorsque les informations commerciales en ligne sont devenues cruciales. Le tableau de bord aide les conseillers du Centre de Développement des Petites Entreprises à conseiller les entrepreneurs sur les stratégies de croissance. Le projet combine également les informations sur les types économiques du USDA avec les données de densité de Venture Forward pour analyser les tendances dans différents secteurs économiques comme l'agriculture, l'industrie et les loisirs.
L'initiative vise à soutenir le développement économique, en particulier dans les zones rurales, en fournissant des informations précieuses sur les tendances des microentreprises en ligne et en aidant les entrepreneurs à comprendre comment réussir sur le marché numérique.
Die Verantwortlichen des Erweiterungsprogramms der University of Missouri haben ein interaktives Dashboard erstellt, das auf geographischen Daten von GoDaddy Venture Forward basiert, um Mikrounternehmen zu beraten und lokale Bewohner zu schulen. Das Dashboard verfolgt den Aktivitätsindex von Mikrounternehmen und die Dichte von Mikrounternehmen im Laufe der Zeit, was dem Personal der MU Extension ermöglicht, Daten zu visualisieren und städtische mit nichtstädtischen Gebieten oder Unterschiede nach Wirtschaftstyp in Missouri zu vergleichen.
Das Team begann während der Pandemie, als Online-Geschäftsinformationen entscheidend wurden, Venture Forward-Daten zu nutzen. Das Dashboard hilft den Beratern des Small Business Development Centers, Unternehmer in Bezug auf Wachstumsstrategien zu beraten. Das Projekt kombiniert auch Informationen über Wirtschaftstypen des USDA mit den Dichte-Daten von Venture Forward, um Trends in verschiedenen Wirtschaftssektoren wie Landwirtschaft, Fertigung und Freizeit zu analysieren.
Die Initiative zielt darauf ab, die wirtschaftliche Entwicklung zu unterstützen, insbesondere in ländlichen Gebieten, indem wertvolle Einblicke in die Trends von Online-Mikrounternehmen gegeben werden und Unternehmern geholfen wird, zu verstehen, wie sie im digitalen Marktplatz erfolgreich sind.
- Creation of an interactive dashboard to visualize microbusiness data
- Utilization of Venture Forward data to support economic planning
- Collaboration between University of Missouri and GoDaddy's Venture Forward initiative
- Provision of county-level data to help local businesses and entrepreneurs
- None.
NORTHAMPTON, MA / ACCESSWIRE / October 10, 2024 / GoDaddy:
Originally published by GoDaddy's Venture Forward Research Initiative
University of Missouri's extension program leaders Dr. Natalia Filimonova and Alan Spell have created an interactive dashboard to visualize GoDaddy Venture Forward's geographical data, empowering staff at the university's Small Business Development Center to counsel microbusinesses and educate local residents.
The team, which provides classes to local residents, typically adults who are interested in learning new information or skills, began utilizing Venture Forward's geographical data during the pandemic - a time when it became critical for entrepreneurs to understand how to get their online microbusinesses to succeed.
In response, Filimonova and Spell leveraged Venture Forward data to create a dashboard to track microbusiness activity index, a score developed by economists at the UCLA Anderson Forecast in partnership with Venture Forward that tracks dozens of factors that impact the success of online microbusinesses, and microbusiness density over time.
With MU Extension staff directly counselling microbusinesses, the tool allows them to visual Venture Forward's microbusiness data and help educate local residents by, for example, comparing local metro versus non-metro areas or differences by economic type in a particular state.
Q: Can you tell us a little about MU Extension, and how you're using Venture Forward data?
Alan: We're part of the University of Missouri Extension system. Of course, every state has an extension, but not every state has a focus on economic development at a similar scale to ours in Missouri. Economic development is our goal, providing information to extension folks, and, of course, the public on economic topics. We noticed Venture Forward's online business data around the pandemic time when a lot of this information was gaining importance. Our Extension runs most Small Business Development Centers in Missouri, so we have a lot of counselors who advise small businesses on entrepreneurship issues and how to grow their operations. When the pandemic struck, we were looking for any kind of data that we could use to understand what might be happening with online commerce. The Venture Forward data was a new set of information that we'd never had before and it was at county-level, which is critical because many folks want to know what's happening in their area. We started by just doing briefs using information like Venture Forward's Microbusiness Activity Index and Microbusiness Density.
We thought it was important enough to put it into a data visualization that could look at things over time. Importantly, Venture Forward already normalize the data by dividing it by population. Big cities are going to have more than small towns, but when you control for that, do metros generally do better than non-metros? Because, in Extension, we are often interested in rural development challenges as smaller communities can lack timely business data. So, when we talked about what we were going to visualize, we made that non-metro/metro distinction so that we could compare places and see if there were differences.
That was the reason we developed the dashboard: to take Venture Forward data, which is already easy to understand, and put it on a dashboard so we can look at it over time.
Natalia: We collected the data and we decided to divide it up by metro versus non-metro areas. We also wanted to divide these counties by economic development type, like agriculture and manufacturing, to see how it could impact density.
Alan: That's the project that we just completed. We combined USDA economic type information, which includes six categories, with the Venture Forward density data. We didn't know what to expect, but it seemed interesting because we see population trends that are impacted by economic types.
Q: When you say "population trends," do you mean migration patterns?
Alan: Yes. In July we came out with a brief on 2020-2023 population trends in Missouri, but there're parallels in the U.S. For example, our city cores, like St Louis City and Jackson County, which is Kansas City, had out migration but suburban and adjacent non-metro counties gained population. It reflects the hybrid work reality, of the cheaper housing options on the outskirts of metros and not having to be at the office five days a week. We saw what was happening nationally also occur here.
The other trend that was interesting was looking at county economic types, such as recreation. Many states, whether it's the beaches along South Carolina or lakes in Missouri, had recreational places that lit up in terms of population gains, even though they're far away from bigger metros. Their broadband is fine and often they're retirement meccas. For example in Missouri, people from Kansas City and St. Louis often vacation at the Lake of the Ozarks. If they have remote work options, they can say ‘I'm going to live there year-round', so recreation-based economies are capturing this population shift.
To complement the dashboard, we also developed a Microbusiness density research brief, published this month, that describes how Missouri counties compare to similar U.S. places.
Q: We've seen in our survey results that the number of people who are saying getting online is a challenge has gone down in the last couple years. To your point, the pandemic really served as a catalyst for people getting more comfortable getting online or pivoting online. What's interesting is that we still see that they struggle with just marketing, knowing what to do, and access to capital. Are you seeing the same?
Alan: Yeah. Access to capital is nothing new, but there are questions of "how do you do this?" At least doing something that's less capital intensive to start, such as a microbusiness, let's them learn the basics of marketing and running a business.
Q: For small businesses, as you're saying, digital presence is an essential component. Do you see more businesses being online only?
Alan: We don't have solid numbers to really tell us at this time, but I think that's got to be the case. Heck, two of my kids already sell stuff online. I think the younger generation is definitely more digitally savvy, and just more comfortable in that space. When thinking about rural areas, there are generally fewer younger folks relative to other places, and maybe less industry diversity. Helping existing rural businesses that aren't online with technology can be a challenge, especially with older entrepreneurs. I think it's going to get better, obviously, year after year with more learning, but it's just not there yet. I think a lot of places are still missing out.
Q: Is there anything else you'd like to highlight about the dashboard and how you hope people use it?
Natalia: I think it's interesting to use because you find different trends. You can compare different counties by metro and non-metro and it's useful to make decisions like how to develop microbusiness activity. Using this dashboard, we can compare different years and different states. It can help explain why microbusiness open their activity in certain states and why do they prefer it there?
Dr. Natalia Filimonova
Natalia is a visiting scholar at the University of Missouri who collaborates on projects with the MU Extension Exceed program. Her research interests include the development of small business strategies, the evaluation of startup support programs and innovative approaches to regional development. Natalia is actively engaged in creating interactive dashboards that enhance the understanding of regional economic processes using Power BI.
Natalia holds a Doctor of Economics degree from Saint Petersburg State University and a Candidate of Economic Sciences degree from Vladimir State University. She also serves as a visiting professor at BINUS University in Jakarta, Indonesia. Natalia has received grants from Tel Aviv University, the Fulbright Program and various Russian scientific foundations and has published 45+ peer-reviewed journal articles in leading journals and presented at international conferences.
Alan Spell
Alan Spell is an Assistant Extension Professor within the MU Division of Applied Social Sciences. He specializes in economic and industry research for MU Extension's Exceed program. Spell's work includes publishing the monthly Missouri Economy Indicator briefs, conducting broadband and industry economic impact analyses, and providing data training.
Prior to 2020, Spell led the Missouri Economic Research and Information Center (MERIC), the state's labor market information and economic development office, where his staff provided analysis to policymakers and the public. Spell is a certified Economic Research Professional and holds degrees in economics and landscape architecture. He has worked in economic development research for over 25 years.
For more than 100 years, University of Missouri Extension and Engagement has worked with partners across our campus and state to share knowledge and resources that improve the lives of all Missourians, especially in these areas of greatest need.
About Venture Forward
GoDaddy's Venture Forward research initiative analyzes more than 20 million online businesses with a digital presence (measured by a unique domain and an active website). Most of these businesses employ fewer than ten people, categorizing each as a microbusiness. While these microbusinesses may be small, their impact on economies is outsized even though they are often too informal or too new to show up in traditional government statistics.
Since 2018, Venture Forward surveyed more than 30,000 small business owners with a digital presence, making it the source for microbusiness data and insights.
View additional multimedia and more ESG storytelling from GoDaddy on 3blmedia.com.
Contact Info:
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SOURCE: GoDaddy
View the original press release on accesswire.com
FAQ
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How does the MU Extension dashboard benefit small businesses in Missouri?
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