The Mastercard Center for Inclusive Growth data fellows program is leveraging public and private data-driven insights to help create a more complete picture of spending power in low- and middle-income neighborhoods.
In February 2019, the Center gathered more than 60 Mastercard data scientists in a 36-hour “Datathon” to do a deep dive to support inclusive growth in New Orleans. The focus areas and research questions of the Datathon were shaped directly by the city government, local experts at the Data Center, community organizers, and regional economic development experts. Their initial findings focused on business growth in the Livable Claiborne Corridor (LCC), a larger 3.9 mile stretch spanning nine neighborhoods along Claiborne Avenue including the Cultural Innovation District (CID). The initial findings on consumer spending and store openings preview what these insights can ultimately do—help local communities make the case for investment that supports inclusive growth.
Analyzing Mastercard’s aggregated and anonymized transaction data from a limited time period in the three distinct areas in New Orleans—the CID, the LCC, and the city as a whole—they identified trends in consumer spending. Publicly available socioeconomic data and local knowledge were also incorporated to support the Mastercard data-driven insights.