Methods and Data Sources for Measuring Socio-Economic Factors: A Literature Review

Abstract

The compiling of the population data, to establish its socioeconomic factors, is a high-cost task for governments and regulatory organizations due to the need for financial and human resources. This limitation makes it almost impossible to count on immediate updated socioeconomic population information. This article compiles a series of alternative data sources and methods that can be applied to reduce the costs and the time required to update such information. The review focus on how these sources and methods have been used in developing countries during time, highlighting the solutions for satisfying the need of updated socioeconomic factors of the population.