The Lithuanian Pilot: A Market Research Solution
The OpenGovIntelligence Project is running six pilot projects on different aspects of improving public services with multidimensional statistical data. The Lithuanian pilot, known as “Enhancing one-stop-shop for businesses”, is a collaborative project with technical partners NUI Galway.
The aim of our pilot is to help entrepreneurs and investors analyse and compare the business environments in different municipalities and allow them to make data based decisions about opening or expanding their business activities in Lithuania.
The pilot aims to reach entrepreneurs and investors who need simple and quick market research. It presents interactive data in different municipalities about:
1. Average income;
2. Number of residents;
3. Number of businesses by employees;
4. Direct foreign investments per capita;
5. Investment in infrastructure.
This data is presented in a graphs and charts to visualise and ease the process of analysis. Businesses can use this data to estimate their target audience. For example, if the business is planning to open in the City of Tauragė, and is planning to sell luxury furniture, information about average income can help decide about the pricing.
This tool can also help analyse the different markets and choose the best location for business. For example, if the investor is looking for the most suitable location of a new factory, according to the average income and population, she can decide where it could be most efficient to build it.
In iterations yet to come, the pilot will present datasets for the categories listed above and it will also show data about separate business sectors (for example, the number of restaurants or hostels in different municipalities). A use case here is if an individual plans to open a new restaurant and is unable to decide which municipality to establish the business in, he could select the business section. In this section information about number of restaurants, average income, population will be presented and will help to make a strategic decision. This tool could also help to predict revenue and prepare a business plan.
