Business and Management

Researching an industry gives you a big-picture view of a company and its competition. A great starting point is an industry report, which includes data and analysis to help answer questions about emerging trends, growth opportunities, and operating conditions. 

Access IBISWorld below to search for industry reports and company profiles:

1. Begin searching with broad terms

• If you don't know the exact industry title, try to identify the general category in which your company operates
  • For example, Chevrolet is a car/automobile manufacturer, while Marriott is a hospitality/hotel company.
• Use those general industry terms to begin your search
• In the example below, searching for "coffee" found reports for both Coffee & Snack Shops and Coffee Production

2. Search for a company

• If the two previous strategies aren't working, try searching for a specific company instead
  • Remember, the companies in these reports tend to be larger and publicly traded. If you are researching a smaller or local company, try looking instead for a larger competitor that you could use as a comparison
• In the example below, note how Starbucks operates in several different industries (i.e. Coffee & Snack Shops, Coffee Production, Tea Production). In cases like this, determine which industries best match what you're looking for. 
• IBISWorld also includes company profiles, which include financials, key ratios, and more information about the industries in which they operate

1. Use the section titles at the left to jump between topics

• Reports are broken up into different sections. Use those titles to quickly navigate through a report
• Each report starts with an "At a Glance" section that serves as an intro with quick takeaways and data

2. Scroll down to find a SWOT analysis for the industry

3. Check current performance and future outlook

• Use the Performance tab to see how businesses in the industry have performed over the last five years and how they're projected to perform over the next five years

4. See the top companies in the industry by market share

• Check financial data and the latest news
• Jump to a company report to find more information

5. Search within the report

• Click the search icon at the top-right and jump straight to each mention within the report

Sometimes you may not find an industry report that directly relates to your chosen product or company. This is often the case for newer or more niche industries that haven't made as deep an impact on the consumer landscape. Consider the following tips to find the information you need:

1. Broaden your search to larger industries

• Take a step back and generalize the product or service offered by the industry
  • For example, you may not find a report on electric bikes or e-bikes, but you can find useful information from the larger Bicycle Manufacturing in the U.S. industry report.

2. Find several adjacent reports to help create a fuller picture

• If you can't find a broader industry report, consider looking laterally to find similar or adjacent industries
  • You can combine the analysis and data from the adjacent industries to help answer questions about the other industry
• For example, say you'd like to start a business to make and serve mead (or honey wine).
  • Using some of the techniques from the "Finding an Industry Report in IBISWorld" section above, IBISWorld does not include a report on the small but growing meadery industry
  • Consider that information from other industries that produce fermented or alcoholic beverages -- such as beer, wine, and spirits -- might also be helpful
  • Searching in IBISWorld, you can find industry reports on Breweries in the U.S., Wineries in the U.S., and Distilleries in the U.S.
  • Identify connections between the three industries and determine what members of the Mead industry should know.