Skip to Main Content

Management, Marketing, Business Administration & Logistics and Supply Chain Management Research Guide

Initial Questions for Industry Research

  1. What is the industry?
    You should be able to identify your industry. If it is a niche industry, consider also researching the broader industry under which it falls. For example, if you're searching craft beer, you may also want to research the broader beer and alcoholic beverages markets. 
     
  2. What is the NAICS (North American Industrial Classification System) or SIC (Standard Industrial Classification) code?
    These industry classifications may help you locate firms within your industry and identify benchmarks and statistics for the industry. Industry codes are fundamental when researching competitors to a specific company or competitors operating in one or more industries. These codes group competitors operating in the same line of business.
     
  3. Are there alternate names for the industry?
    There are often multiple ways to refer to an industry. For instance, you may find information about the banking industry under a variety of names: banking, commercial lending, finance, financial services, personal lending, etc. Brainstorm alternative terms for describing your industry. 
     
  4. What geographic region are you looking for?
    You can easily find industry reports covering the US, foreign countries, world regions, and the entire world. Knowing what you need will help you narrow your search and determine where to look.
     
  5. What specific information do you need?
    If you were not given a list of information to find, you'll need to create the list on your own. Look at your assignment, identify key pieces of information you need, and then make a list for yourself. 

Common Types of Industry Information

Industry information can be found in a variety of places.  Often you have to look in more than one place to find everything you need. The important thing is knowing where to look.  So where can you begin?

  • Compiled Industry & Market Reports: These reports are available in library databases, from industry associations, and on the web. They often include industry financials and forecasts, major players in the industry, and market share.    
  • News & Trade Publications: You can use these resources to find current information about industries.  They are especially useful for niche or emerging industries.   
  • Industry Associations:  Many industry associations have statistics and other publications publicly available on their web sites.  
  • SEC Filings and Annual Reports:  Check out the 10-K forms for companies operating in your industry.  Take a look at Item 1A (Risks) to get a feel for what may be affecting the industry. 
  • Governmental Materials: Federal and state governments provide a wealth of industry information. Look for the regulatory agencies for your industry, as they may provide detailed statistics and figures on their websites. 

Industry Codes Overview

The North American Industry Classification System (NAICS) is the standard used by Federal statistical agencies in classifying business establishments for the purpose of collecting, analyzing, and publishing statistical data related to the U.S. business economy. It is important to know the NAICS codes associated with your business because you will use them while searching for resources. 

Major Classification Systems

North American Industry Classification System (NAICS)
Pronounced ‘nakes’, 6-digit classification system focusing on business activities and production processes. Developed jointly by the U.S., Canada, and Mexico to provide comparable business statistics throughout North America.  Businesses using similar production processes are grouped together. An update of NAICS was published in 2012.

Standard Industry Classification System (SIC)
4-digit classification system focusing on manufactured goods and their constituent materials.  Developed in the 1930s by the U.S. Central Statistical Board, superseded by NAICS and has not updated since 1987, although many sources such as the U.S. Department of Labor still apply it.

North American Product Classification System (NAPCS)
3-5 digit classification system for products produced by service industries in 12 NAICS sectors in the 48-49 through 81 divisions. Is a complement to NAICS and organizes products primarily by their use. Implementation started in 2007.

Global Industry Classification Standard (GICS)
10-digit classification system developed by MSCI and Standard & Poor’s (S&P) to provide a system that would account for the increasing globalization of industry.  Used primarily for finance and investment applications.

Industry Classification Benchmark (ICB)
Developed by Dow Jones Indexes and FTSE, ICB is a global system for investment analysis. It is used by many index funds, stock exchanges, and major financial publications.

International Standard Industrial Classification of All Economic Activities (ISIC)
2-digit classification developed by the United Nations for tracking international economic activity.

Standard International Trade Classification (SITC)
System recommended by the United Nations Statistical Commission to track international merchandise trade among various countries.

Eurostat Metadata Standards
Various classification systems for economic activity, used by the European Commission (EC).

Nice Classification
International classification system for trademarks. Includes goods and services.

Industry Reports/Profile

Industry reports, available in databases, print resources, and websites, contain valuable analysis of an industry's operating conditions, driving forces, competitive landscapes, and more. Be aware that many do not cover smaller niche industries and always check the date to see how current the information is. Supplement these reports with information found in newspapers and trade publications.

Industry reports created by MarketLine can be found in Business Source Complete.

1. Type in your industry, such as "software development" in the first line and then "industry" or "market" in the second line. Add terms like "data" or "statistics" if that is what you are looking for.
2. On the results page, navigate to the Source Types option on the left. Select Industry Profiles (You may need to first click the Show More link).

1. Once in the database, select the Markets tab in the top navigational men
2. Select the Industries tab in the purple menu
3. Scroll down and select View all industry analysis
3. Browse the results

Free Websites

Industry News

Newspaper articles can be a good source of up-to-date or historical information on virtually any topic. They are also considered to be primary sources since they are often the first published account of an event.

1. In the first search bar, type in the industry. Be sure to try synonyms and related words or industries (i.e. automobile, automotive, cars, vehicles).
2. On the left of the results list, find the Source Types section and select Newspapers, Trade Publications, and Magazines.

Industry Financials

Financial ratios, such as earnings per share, are figured by comparing two different elements of a company's financial statement. You can determine a company's performance and strength within an industry if you compare that company's ratios with those of the industry. Each of the resources provided here will cover different industries, include different companies in those industries, provide different data and ratios, and present the results differently. Using multiple resources will help you determine which one best meets your needs.

1. Search for an industry in the search box in the middle of the page
2. Once in the report, select the Key Statistics tab for industry ratios and other data.

If you want to generate industry ratios for a customized list of companies:
1. Search for an initial company to get started in the search box on the left of the database's homepage
2. Once in the company's report go to blue Competitors tab
3. Make any changes to the competitors list using the Remove column or the search box above the table to add companies
4. Once happy with the list, click the Add all to Company Analysis List on the top right of the table
5. Under the My Mergent Tools box, select Company Analysis List to generate the report
6. In the new window that opens, first select the Company Comparison Report link at the top of the window
7. Then, in the first section called Company Listing, move all companies from the list box on the left to the report box on the right using the >> button
8. In the second section called Report Item Selection, select the + icon next to Ratios and select whatever ratios you want to include in the report, using the > button to move them to the box on the left
9. Be sure to check the box labelled Include Average and select the years you want included
10. At the bottom of the window, Select a Format from the drop-down menu, and then click Create Report

Industry Statistics

Free Government Websites

Industry Associations and Organizations

Trade association websites often contain industry news & information, although some data may be available to members only. Look for news, research, resources, library, data, or other tabs on the association's website.

These are often great sources of information, so don't overlook them!

How to find relevant industry associations and organizations

1. Do an advanced Google Search structured like the following: industry description + association

Example: fiber optics + association

Example: automobile + association site:.org

Tip: Adding the site:.org command to a Google search will limit all the results to those with domains ending in .org.

Regulatory Agencies

Government executive departments and regulatory agencies collect financial reports and industry data from companies in regulated industries. A few key regulatory agencies are listed here.