Deriving a Score to Show Relative Socio-Economic Advantage and Disadvantage of a Geographic Area
Using Principal Component Analysis with Real-life dataPhoto by Vista Wei on UnsplashMotivationThere exist publicly accessible data which describe the socio-economic characteristics of a geographic location. In Australia where I reside, the Government through the Australian Bureau of Statistics (ABS) collects and publishes individual and household data on a regular basis in respect of income, occupation, education, employment and housing at an area level. Some examples of the published data points include:Percentage of…