Steps in the Industry Research Process
This section starts the industry research process and introduces general resources and specialized statistical sources that you can use in this process.
The four steps are:
1. Industry Structure
Resources listed in this section provide information on industries and not individual companies. It is a good place to start in understanding how industries in the United States are organized. Also in this section is an explanation of the SIC (Standard Industrial Classification) and the NAICS (North American Industry Classification System) codes.
2. Industry Profiles
Resources listed in this section point to places to find industry profiles which provide information such as industry performance, segmentation, trends and outlook. Resources in this section will also help you to identify the major companies in particular industry.
3. Current Industry Developments
Resources in this section will help you find current news, events or trends in an industry.
4. Industry statistics
This section will explain industry ratios as well as list major statistical sources, both private and governmental, and where to find them. It will also discuss the importance of business trade associations and how you can find the statistics their publications produce.
If you are beginning the industry research process, it is advisable to begin with section 1 and work your way through each section. Each section following the first will build upon information you learned in the previous section.
