Since March, forecasters have become more and more downbeat about economic prospects for 2020, and many estimates of real GDP growth have been revised downward, including the OECD’s Economic Outlook released in June.

Free is great. Who doesn’t like free?

Economists, that’s who. They don’t believe in it. Nothing is really free. There’s always at least an opportunity cost. There’s always a catch with free.

Yet, a lot of Freedonia’s industry analysts rely on free, public data provided by the government in order to do our work. Same goes for our competitors, as well as many of our customers.

Generally speaking, value chain analysis typically includes two types of ventures:

• Firm value chain analysis (often referred to as Porter Value Chain Analysis) examines internal company practices and their optimization relative to creating value for customers.
• Industry value chain analysis involves examining the various stages of a product’s production, from raw material procurement all the way through the final purchase by end-users.

Tracking down corporate information can feel like searching for a needle in a large haystack, especially if you're dealing with a small private firm with no history of public disclosures.

Market research publishers like The Freedonia Group, Packaged Facts, and Simba Information – all divisions of MarketResearch.com – employ business intelligence analysts that are trained to source and verify high-level company research, dedicating weeks of time and effort to ensuring their competitor data is top notch.

When it comes time to make an important business decision or implement a strategic plan, companies often turn to a toolbox of resources to help determine the best possible course of action. One of the most important tools in this box is the market analysis – an assessment that incorporates both quantitative and qualitative data in order to paint a clear picture of the tangible and intangible factors at play in an industry.

One of the many challenges of running a successful business is that markets change. It’s natural: Tastes shift, technology advances, and the consumers you target today may look and behave differently from those in the market tomorrow.

Note: The following is an excerpt from the white paper "Trade Analysis: Using Trade Data in Strategic Decision Making" published by Freedonia Custom Research. To read the entire white paper, download it here for free. 

Conducting market research requires the right tools, resources, and strategies. Whether you are looking for information on how to do market research online, or you are searching for the right market research sources for your next project, you’ve come to the right place.

You and your team may be considering a variety of new business ideas and market opportunities, but not all of them are worth pursuing. It's important to narrow down your options and make sure you focus on the ones that have the highest potential for success. 

There are many different sources for new business opportunities, but according to Raffi Amit, a professor of management at the Wharton School, perhaps the most promising ideas come from fully understanding customer needs.