Industry Research Tools at a Glance:
Many ways exist to research an industry, ranging from actively being involved in an industry to learning about them through online research. The following page will provide a brief overview of how to research an industry using the RFBC’s online research tools. This is helpful when putting together a business plan, keeping up to date on your industry, or prospecting for new customers.
First Research is a great resource to start with that will help you gain a general understanding of an industry. Note - Some niche industries are not on First Research, or they may be included under the umbrella of a bigger industry.
From First Research’s home page, you can type in the NAICS code, SIC code, or industry keyword to research your desired industry. This search will yield results; please click on the one that sounds closest to your industry or business choice. Once on the desired industry page, click the “Full Profile” link to get a full report. The report covers many interesting topics that can lead your business in a positive direction.
The full industry profile provides insights on the industry, including: competitive landscape, products, operations, technologies, sales, marketing, finance, regulation, regional highlights, human resources, employment statistics, industry growth ratings, up-to-date news and social media, indicators, forecasts, drivers, critical issues, challenges, trends, opportunities, executive insights, executive conversation starters, call prep questions, financial information, industry websites, and acronyms you may hear in the industry.
Bizminer (Available In-Library)
Bizminer offers quality financial and market analysis for businesses in any US area. Featuring data on over 9,000 industries, Bizminer is a great tool to benchmark your company, even startups, for success. The industry financial reports offer up to ten years of detailed average industry financial statements for up to twelve sales classes and 5500 industry segments at national, state and metro levels.