Demographic data can help in identifying a real problem for a business by providing insights into the characteristics of a population. This can include age, gender, income, ethnicity, and more. By understanding these characteristics, a business can identify trends, needs, and potential problems within a specific demographic group. For example, if a business is targeting a younger demographic, they might identify a problem such as a lack of affordable products. This could lead to the development of a new product line that is more affordable for this demographic.
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