ADP Launches First Big Data Service

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Late last year, ADP, the leading payroll processor in the US, launched its first “big data” service created for companies conducting deep dive economic research into the retail, hospitality, financial institution, and commercial and industrial real-estate sectors.

ADP Real Income

This new service, called ADP Real Income, provides aggregated and anonymized real income data from more than 26 million employees which is geo-tagged, connecting income data to both employers and residential property locations.  This “first of its kind” data set is updated quarterly and enables business executives to make extremely timely and informed decisions about local conditions and developing business trends.  The following are more details about the ADP Real Income service.

1. What does ADP Big Data do?  Outline the data items a customer can receive from you?

Real Income by ADP, is an income based geo-economic data-set, available through data extracts and accessed through an interactive mapping and reporting tool. This solution provides actual aggregate income, trends and insights to enable business leaders to evaluate, validate and monitor business activity through various business sectors. This data can be particularly useful for economic research and decision making at the macro and micro-economic level.  ADP data is unique because it is first party data, and Real Income metrics and insights are derived ADP payroll data that is aggregated, anonymized and updated quarterly. The platform is built by connecting records and insights of employers and employees to business and residential property locations; aggregating and anonymizing data for privacy; mapping information to the US Census hierarchy; and using interactive mapping with reporting and data downloading capabilities.

 2. Who is ADP Big Data’s target market?

Real Income is a solution built for use by industries and organizations dealing with economic research, financial institutions, commercial and residential real-estate, retail, hospitality and financial institutions. However, its niche is amongst analysts who work within the capital markets for whom more accurate and timely information can lead to better decision making that can impact their funds’ performance and an enhanced ROI. The freshness and accuracy of the Real Income data is what sets it apart from other data sets and tools.

3. Who are some of ADP Big Data’s chief competitors?

Real Income by ADP does not have a direct competitor. No other source for data that is available today can deliver a solution that is as robust as it is up-to-date and accurate. Current alternatives available today typically include census and other forms of public data. This information is often notoriously inaccurate and outdated. It is also available to everyone, meaning the decisions an analyst or data-scientist makes based on this data-source is likely the same data driving the decisions being made by the competition. In contrast, Real Income delivers a unique solution using current, reliable data not available until now.

4. What makes ADP Big Data different from other firms in the same space?

Real Income by ADP, delivers up-to-date and accurate information currently available. However, what makes this data truly unique is its source. Powered by ADP, Real Income leverages employment, payroll and human-capital-management (HCM) information from 1 out of every 6 US private sector workers, over 26 million employees.

5. Who are a few cornerstone clients in the financial services market that use you?  How do they generally use your platform?

Real Income has been met with great enthusiasm when it was introduced to the market in the latter part of last year. Unfortunately, due to non-disclosure-agreements currently in place, ADP cannot publicize its client base other than to say the solution has been well-received.

6. What is ADP Big Data’s commercial model?  What is the price range for your service?

ADP offers Real Income through a number of delivery methods and pricing methods including annual subscriptions. These models are driven by the end-users’ needs, how many users will access the data and how they plan to use the data. Pricing exists for analysts or data-scientists who require a complete, raw-data set. Other models are available in cases where an end-user only requires data specific to a particular industry or segment of the market. Real Income can be offered to meet most users’ requirements and budgets.

7. What are a few of ADP Big Data’s next major targets/milestones?

Real Income has become a resource within the Capital Markets vertical among ADP’s customers. Capitalizing on that success, ADP is working on expanding this to others within the economic research sector and to refining this solution to markets that will have their own unique use cases including financial institutions, commercial and residential real-estate, retail, consumer packaged goods, and media industries.

8. What are a few interesting facts about ADP Big Data?

Real Income by ADP, was created by Misha Ghosh.  He recognized there was an opportunity to create a unique resource for the Capital Markets, as well as unify the commercial and residential real estate decision making with the one leading indicator common to all:  factual, timely, income metrics.  People are often surprised when they see ADP data set with the geo-coded mapping visualization tool, and ask why hasn’t this been done before?   ADP was the first firm to recognize this opportunity in the Big Data arena.

9. ADP Big Data contact information

To learn more about Real Income, please contact Darren Voges at Darren.Voges@ADP.com or (408) 608-9177

ADP and the ADP logo are registered trademarks of ADP, LLC. ADP A more human resource. is a service mark of ADP, LLC. Copyright © 2017 ADP, LLC. All rights reserved.

 

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About Author

Mike Mayhew is one of the leading experts on the investment research industry. In addition to founding Integrity Research, Mike is on the board of directors of Investorside Research Association, the non-profit trade association for the independent research industry, and a frequent speaker on research industry trends and developments. Mike has over thirty years of research industry experience. Email: Michael.Mayhew@integrity-research.com

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