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MGMT 765 Applied Venture Creation: Where can I find...

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Last Updated: Sep 12, 2022 10:03 AM

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Where Can I Find.....

A nice overview of a product/service/industry?

There are also many specialized terms used in IBISWorld. One term not defined in the glossary but heavily used in reports is sector. Take a look at this definition of sector from Investopedia.

From IBISWorld via and email exchange in Dec 2021: A sector can then be designated as either primary, secondary, tertiary or quaternary.

  • Companies classified in the primary sector primarily extract and harvest resources from the earth, like agriculture, mining or forestry.
  • The secondary sector comprises businesses that are involved in processing, manufacturing and construction.
  • Businesses in the tertiary sector provide services, such as retailers or financial companies.
  • Lastly, the quaternary sector is composed of knowledge-oriented businesses, such as educational institutions.

With each additional digit added to a NAICS code, the scope of the group of businesses narrows, leaving the most similar companies classified into industries with the longest codes. At the four-digit NAICS code level, companies receive the designation of industry group, which is subsequently further broken down into specific industries as additional fifth and sixth digits are added. An industry is the narrowest classification in NAICS and comprises companies operating in the same business sphere of the economy, with the most similar attributes.

If you are unfamiliar with NAICS and SIC codes take a look at these sites. They are classification numbers the US government uses to group like industries it has categorized. Not every industry is represented and not every information product uses these groupings.

The SIC system pre-dates NAICS and therefore does not account for industries which emerged after SIC was established. Some databases like Data Axle and Hoovers try to accommodate for this by adding extra digits beyond the 4 digit SIC code. These are not the same as NAICS.

Not all databases use NAICS or SIC codes for searching. It is only one of many methods to use.

The demographics of people in the United States in general?

Demographics of people in the United States who might buy a specific product/service?

Company Profiles

Competitors for a specific company?

Companies within an industry?

Market share?

SWOT

The latest news about a company, industry, product or service?

Basic news about the United States economy?

Financials, profit/loss, income statements and balance sheets for companies?

Ratios and financials for industries to help build an income statement and balance sheet?

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