Research projects often begin with secondary data. A variety of secondary information sources is available for data on an industry, potential product applications and the market place. Secondary data is often used to gain initial insight into the research problem.
Market Directions is expert at collecting data from secondary sources, and we can do it faster, and with a greater degree of efficiency than most marketers who visit a source infrequently. Secondary data reports we have prepared for clients include geographic profiles for site location, the regulatory environment, industry trends, demographic profiles and historical analysis. Click here to view a case study.
In addition to Secondary Sources available at libraries and across the internet, internal data sources are also considered Secondary Research Sources and Market Directions is expert at taking database information and transforming it into meaningful insights about customers. Today, organizations are accumulating vast and growing amounts of data in different formats and different databases through Data Mining.
Data mining enables companies to determine relationships among "internal" factors such as price, product positioning, or staff skills, and "external" factors such as economic indicators, competition, and customer demographics. Information can be converted into knowledge about historical patterns and future trends. Market Directions through Secondary Research and Data Mining helps companies discover more meaningful and predictive insights from the data you already have.
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Some Secondary Sources you may find beneficial.
Industry and Market Data
Current industry statistics are available Encyclopedia of American Industries
Encyclopedia of Associations lists thousands of trade associations and their websites.
Company and Competitor Data
bizstats.com provides financial ratios, business statistics and benchmarks.
Consumer and Demographic Data
The U.S. Census Bureau's American FactFinder database contains data on population, housing, and income, narrowed to a specific geographic area such as city or ZIP code.
The American Time Use Survey measures the amount of time Americans spend on various activities, such as working, volunteering, and commuting.
The Bureau of Labor Statistics Consumer Expenditure Survey annual survey provides data on hundreds of consumer expenditures and income information.
The World Factbook provides information on the history, people, government, economy, geography, communications, transportation, military, and transnational issues for 267 world entities.
The best example of secondary research resources is the U.S. Census Bureau’s American Community Survey ACS--- which updates data every year using sample data.
Want to keep up with changes to the Census Bureau’s website and data collected? Join Market Directions’ Owner Mary Malaszek’s linked in group about current happenings at the U.S. Census Bureau.