Ethnic Technologies, a 19-year-old company based in South Hackensack, New Jersey, develops software that helps businesses target different ethnic groups. Its algorithms are designed to identify a person’s ethnicity on the basis of his or her full name, address, and ZIP code.
The company, whose software considers 158 distinct ethnicities–including more segmentation for Hispanics and African Americans–claims it has an accuracy rate of 90 percent. This could lend a huge hand in marketing: With minorities expected to account for more than half of the population by 2044, the ability to target those customers is key to driving sales growth.
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