Business Librarian
Business Librarian
Identify your industry (NAICS)
An industry is a group of businesses that produce and/or sell the same, or similar, goods or services (Ruediger & Olsen, 2013).
To streamline collection of data about industries, the U.S. Federal Government developed the North American Industry Classification System or NAICS.
You can use NAICS codes to search for information about your industry, including typical the number of establishments, types of expenses, financial benchmarks, etc.
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Remember that an emerging product might not fit perfectly into a single NAICS code. You might need to strategically weigh and average two or more industries to produce the best presentation.
Stuck? Consider which industry might lose customers to your product. For example, dessert hummus likely would appeal to consumers who purchase ice cream and/or frozen yogurt (311520).
Research your industry
These cover topics such as growth outlook, key success factors, and margins.
- IBISWorld This link opens in a new windowContent type(s): Reports on more than 700 U.S. industries. Industry Outlook has growth rates and Key Statistics has averages for financial benchmarks
Dates covered: Current - BizMiner This link opens in a new windowContent type(s): Industry data reports on more than 16,000 lines of business. Search by NAICS code to find an industry's financial benchmarks to use as a surrogate or proxy.
Dates covered: Most recent 5 years
- CrunchbaseContent types: Crowd sourced data tracking start-ups, investors.
Dates covered: Current
Research news and events affecting your industry
- Factiva This link opens in a new window
This link opens in a new window
Content type(s): Business news such as WSJ, company press releases, earnings report transcripts, industry trade publications
Dates covered: Current
Research market share
- Statista This link opens in a new windowContent type(s): Data aggregation and research platform covering North American, European, and Asian markets, industries and societal topics.
Dates covered: Varies - Mintel Academic This link opens in a new windowContent types: Market data/forecasting for U.S. consumer industries. Download Databook for insight into consumer behavior.
Dates covered: Current