Answered By: Coleen Neary Last Updated: Oct 07, 2022 Views: 952
Issue #1: Information availability depends on the specific industry. Not every industry is covered in all databases. There may not be a report on an emerging or niche industry in any database. Reports found via Google may not be available through the Library.
- Broaden your search (e.g., instead of the "buttons industry", find information on "clothing accessories") or look up information in related/competing industries. Think about your target customers and what else they may like to do and research that market (you will need to make some educated assumptions). Do an article/Web search. Look up Form S-1 or 10K of a public company in the same industry.
Issue #2: Different databases may call the same industry differently. Even NAICS codes can be different as they are assigned by the research firms that produced the reports/data.
- Brainstorm synonyms, be flexible in your search, or search by company name (main players) or prominent brand names.
Issue #3: Even in the same industry, numbers from different databases may not be the same, due to differences in scope, time period, source, or methodology.
- Make sure you understand how a particular report defines the industry, and what the numbers mean (e.g., production vs. retail sales). Get information from a few different sources and come up with your own estimate.
Issue #4: Most databases provide industry/market information on the national level rather than local.
- Make educated assumptions, consult Census industry data by state, and do an article/Web search for info on local markets.
From: Industry & Market Research: Industry Profiles/Data (Portland State University) | https://guides.library.pdx.edu/industry
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