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4 Key Databases for Business Research
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4 Key Databases for Business Research

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    4 Key Databases for Business Research 4 Key Databases for Business Research Presentation Transcript

    • Databases for Small Business Research
      Ann Schoenenberger, MLIS
      Digital Librarian
      Kenton County Public Library
      Presented by:
    • Evaluate and confirm
      “How do you know you’re basing your decisions on the best information?”
      “Are you sure that the information you found from a search engine is really the most accurate, most current, and most complete?”
      -Mary Ellen Bates “Now That You’ve Fired Your Boss.” Searcher
    • Criteria to evaluate web sites and data
      Timeliness
      Comprehensiveness
      Accuracy
      Authority
      Objectivity
      Relevance
    • Types of Secondary Data
      Demographic reports/tables
      Scientific studies
      Media surveys
      Public polls
      Prices and specifications
      Industry reports
      Business knowledge/procedure
      Directories and indexes
    • Who cares? Sources of secondary research
      Trade associations
      Government agencies
      Market research firms
      News reporters
      Chambers of Commerce
      Economic development and business councils
      Business librarians
      http://www.library.ohiou.edu/subjects/businessblog/
    • Case study: Restaurant
      Jane Smith would like to start a restaurant somewhere in the Cincinnati region. She’s worked in restaurants and knows about their operation but has no experience in management or marketing. She’s compiled information from the Web using Google. Now she plans to search the library resources based on advice by her SCORE counselor. What type of information is available online through library databases?
    • Before her visit to the library website.
      Jane works with her counselor on a list of questions and assumptions she’d like to confirm with research.
      Note: each business is different and there is no guarantee the data exists. In these cases, primary research may be the answer.
    • Jane needs to answer questions and test assumptions such as these.
      Questions:
      What is the state of the restaurant industry?
      Who are the competitors in the region?
      Where is the best location for her business?
      What is my target market and what are they like?
      I will sell enough meals to make a profit. [est. _____]
      There is a market for another _________restaurant in Cincinnati or Northern Kentucky.
      Assumptions:
    • Good place to begin research
      Contents include traditional business reference titles in digital format
      170 journals for general and specific industries
      Published by Gale, part of Cengage Learning
      All content is selected for its relevance to the small business owner/entrepreneur.
      Available from :
    • Jane goes to:
      http://www.cincinnatilibrary.org/resources/research.asp
    • 11
      Primary content: Reference Titles
    • Key Contents of Small Business Resource Center
      Small Business Sourcebook
      Overviews by business type, a good starting point for research
      including contacts for trade associations and shows.
      Business Plans Handbook
      Sample business plans to model or improve upon
      Encyclopedia of Business Information Sources
      Guide to where to find valuable statistics and data
      170 Trade publications
      Articles, surveys, trends and reports
      Encyclopedia of Major Marketing Campaigns
      Summary of successful marketing by major companies
      Consultants and Consulting Organizations Directory
      Listing of consultants by business type and expertise
    • Jane searches Small Business Resource Center:
      She uses search terms such as restaurant and food industry and keeps notes on relevant subject terms.
      Jane finds:
      several business plans one of which provides detailed financial statements.
      overviews for different restaurant types one of which is for “Healthy Restaurants”
      relevant trade associations in a directory listing
      a consultant to contact for startup help
      some articles for background information, business topics such as how to perform market analysis, and information on restaurant franchises in Franchise World
    • Example subject terms and topics:
      Accounting
      Advertising
      Brand image
      Budgeting
      Business associations
      Business communication
      Business expansion
      Business failures
      Business networks (Social groups)
      Business planning
      Business sale
      Business success
      Business to business market
      Cash flow
      Customer service
      Debt financing
      E-commerce
      Employee benefits
      Employment discrimination
      Entrepreneurs
      Family-owned businesses
      Financial statements
      Franchises
      Health insurance
      Home based businesses
      Human resource management
      Incorporation
      Independent contractors
      Internet marketing
      Market research
      Market strategy
      Marketing
      Minority business enterprises
      Occupational safety and health
      Outsourcing
      Partnerships
      Payroll tax
      Pricing
      Product development
      Product introduction
      Risk management
      S corporations
      Self employed persons
      Small business assistance
      Small business computer systems
      Small business investment companies
      Small business lending companies
      Social security taxes
      Sole proprietorships
      Startups
      Target marketing
      Tax planning
      Venture capital
      Wages and salaries
      Women-owned businesses
    • Tip: Advanced search for market data
      Type in the industry in one search box and then select one or more of the following document types/subjects:
      Statistical data
      Statistical table
      Survey
      Market overview
      Market share report
    • Jane does an advanced search
    • Jane goes to:
      http://www.kentonlibrary.org/business/smallbusiness
    • Business Source Premier is one of many specialized databases from EBSCO Publishing
    • Build industry knowledge
      Full text for more than 2,150 journals
      Published by EBSCO publishing
      Content is selected on relevance to business which means some content is intended for larger companies/corporations.
      Available from :
    • Primary contents: Journals
      Trade Journals
      Business Magazines
      Peer-Reviewed journals [Academic]
      Company profiles
      Industry reports
      SWOT analysis
    • General Business Publications
      American Journal of Small Business
      Black Enterprise
      Business Week
      Business Week Online
      Consumer Reports
      Consumers' Research Magazine
      Entrepreneur
      Forbes
      Forbes Global
      Fortune
      Fortune (Europe)
      FSB: Fortune Small Business
      Inc.
      Journal of Small Business & Entrepreneurship
      Maclean's
      Newsweek
      Time
      U.S. News & World Report
    • Search Tools
    • Jane searches
      Business Source Premier:
      • Uses keywords such as restaurant industry.
      • Takes notes of relevant subject headings
      • Checks for trade publications in her industry
      • Looks for articles in business publications
      • Looks for relevant economic, market, industry, and company reports.
      Jane finds:
      • Restaurant Business, Nation’s Restaurant News, Restaurants & Institutions
      • Franchising World, Marketing Magazine,& Chain Leader
      Continued…
    • Sets up an alert to receive new issues as they are published and made available
      Identifies a relevant food industry report
      Jane tries these and other searches:
    • Suggested Subject Headings
      Independent restaurants
      Restaurant management
      Strategic planning
      Consumer [attitudes, preferences, confidence, etc.]
      Dinners & dining-economic aspects
      Food industry & trade
      Economic conditions
      Surveys or Market surveys
      Sales
      Food industry & trade
      Statistics
      Menus
    • Tip: Search for market research companies & institutes
      Technomic
      Ogilvy
      Mintel
      Nielson
      Claritas
      Equifax
      Comscore
      Pew Internet & American Life
      Brookings Institution
      Forrester Research
      Gartner Research
      Arbitron
      For most consumers, attractive value propositions are about more than heaping plates of food. Chicago-based market researcher Technomic finds 85% of consumers agree that "good service and a pleasant restaurant environment are part of what value means"; 44% agree that "value means lots of food for a low price.“
      Quality Trumps Quantity. Restaurants & Institutions, 02735520, Feb2010, Vol. 120, Issue 2: Business Source Premier
      Food industry:
      USFDA
    • Competitor /B2B research
      Create custom searches based on business type, geography, and other limiters.
      Get basic information for companies.
      Published by ReferenceGroup
      Basically an enhanced phone book/directory that enables dynamically created lists.
      Available from :
    • Limit results by:
      Business Type [SIC or NAICS]
      Geography [State, City, Zip, Radius, County, Address, Metro, Neighborhood]
      Business Size [Sales volume, employees]
      Ownership [Home based, Public/Private Company, Headquarter/Branch, Foreign Parent]
      Financial data [Expenditures]
      Year established, Square footage, # of PCs
    • Jane searches ReferenceUSA
      • Identifies relevant SIC codes for restaurants
      • Limits geography to Metro Cincinnati
      • Creates a summary report by SIC and zip code
      Finds:
      Zip code
      # of establishments
    • Jane refines her search
      She decides to focus on one type of restaurants “Italian”
      She creates a summary report of estimated sales volume by zip code.
      Downloads detailed information about each restaurant in Excel format
      Edits spreadsheet to analyze the data:
      franchise vs. independent
      sales
      location
    • Jane goes to:
      http://www.cincinnatilibrary.org/resources/research.asp
    • GIS based application with downloadable summary, comparison, and ranking demographic and expenditure reports based on user-selected geographic locations.
      Estimates and projections are based on Census, USPS, Bureau of Labor Statistics, Medicare, Internal Revenue Service, and Experian's INSOURCE data.
      Published by Alteryx, LLC and Gale Cengage Learning.
      Useful for gathering basic demographic information, location selection, and market analysis.
      Available from :
    • Demographic Variables
      • Population
      • Population by household type (family, non-family, group quarters)
      • Households
      • Households by type (family, non-family)
      • Households by size of household
      • Households by age of head of household
      • Household type (e.g. lone parent male family with children)
      • Average Household Size
      • Population by age (19 age breaks)
      • Population by age and sex (38 breaks)
      • Population by sex
      • Population by race
      • Population by Hispanic origin
      • Population by race and Hispanic origin (e.g. white Hispanic, white non-Hispanic)
      • Population by Marital Status
      • Population by Educational Achievement
      • Labor Force Employment Status
      • Labor Force Employment Status by Sex
      • Aggregate Income (family, non-family households, group quarters)
      • Household income distribution (15 breaks)
      • Family income distribution (15 breaks)
      • Extended Upper-Income distributions
      • Median and average income (family, household)
      • Households by Disposable Income
      • Age of head of household by income
      • Median income by age of head of household
      • Vacant Dwellings
      • Tenure
      • Length of Residence
      • Total Vehicles Available
      • Households by number of vehicles available
      • Households by number of vehicles available and tenure
    • Consumer Expenditure Variables
      Total Expenditure
      Food and Beverages
      Shelter
      Utilities
      Household Operations
      Household Furnishings/Equipment
      Apparel
      Transportation
      Health Care
      Entertainment
      Personal Care
      Reading
      Education
      Tobacco Products
      Miscellaneous Expenses
      Cash Contributions
      Personal Insurance
      Gifts
    • Other reports
      Consumer Expenditure Detail
      Business Summary Report
      MOSAIC Cluster Distributions
      Retail Potential
    • Jane creates unique reports.
      First, she sets her geography to Metro Cincinnati and downloads business, demographic, expenditure, retail potential summary reports.
      Then, she selects several local counties and downloads ranking reports based on income and consumer expenditure.
      Then, she chooses 3 locations and downloads comparison reports for a 15 minutes drive-time.
      Examines market segments using MOSAIC and identifies her key target group.