Industry research involves finding a variety of information relating to an industry. It could be something as straight forward as identifying the major players in an industry or market share to something as complex as finding industry specific statistics and financial ratios. The type of information you will find depends on the industry you're researching. Each industry has unique statistics and information.
Industry research involves finding a variety of information relating to an industry. Company and industry research often go hand-in-hand. You can begin by researching an industry and then the companies operating within it, or you can begin by researching a company and then moving to the industry in which it operates.
As with company research, there are a number of initial questions you should ask before jumping into your research.
Industry groups and trade associations are great places to find industry information. They often have industry statistics and reports available on their web sites. The reports are sometimes available for free to the public but may be for association members only.
Google is an easy way to find industry association web sites.
Searching news and magazine databases is a great way to find information about specific industries. The following databases should help you get started.
You can find more detail about these databases under the company research tab.
Industry classifications are used to classify business establishments for the purpose of collecting, analyzing, and publishing statistical data. The two most common classifications are the NAICS (North American Industry Classification System) and the SIC (Standard Industrial Classification).