WMU Research Guides: MGMT 2140: Exploring Entrepreneurship: Home

AI Tools for Brainstorming

(data OR survey OR market research OR report)

Marketing and Industry Databases

North American Industry Classification System (NAICS)
Census Business Builder
The Census Business Builder (CBB) is a data tool provided by the U.S. Census Bureau that helps entrepreneurs and small business owners access key demographic, economic, and business data to guide decision-making. Students can use the tool to research market conditions, customer demographics, and competitive landscapes by viewing interactive maps and reports tailored to their business type and location. This data-driven approach allows them to make informed decisions on market opportunities, customer targeting, and business planning for their small business ideas.
Data.Census.gov
Data.census.gov is the primary platform for accessing data from the U.S. Census Bureau, offering a wide range of information on population, economy, housing, and more. Students can use this website to conduct industry and market research for their small business ideas by exploring detailed data on customer demographics, income levels, and local economic conditions. The platform's advanced search features allow users to customize datasets based on specific geographies, industries, and topics, providing valuable insights into potential markets and customer bases.

IBISWorld This link opens in a new window
IBISWorld is a comprehensive online database that provides in-depth industry research reports and market analysis across a wide range of sectors. Students can use IBISWorld to gather valuable insights into industry trends, competitive landscapes, growth prospects, and key success factors, which are crucial for developing and refining small business ideas. With detailed data on market size, consumer behavior, and economic drivers, students can make informed decisions on business strategy, identify opportunities, and mitigate potential risks. The reports are particularly useful for understanding the broader market environment and planning for long-term sustainability.

Sample APA Citation: Tang, O. (2012, August). IBISWorld Industry Report 31134. Candy Production in the US. Retrieved from IBISWorld database.

Mintel US Reports This link opens in a new window
Mintel US Reports offers comprehensive market research and consumer insights across various industries, focusing on trends, consumer behavior, and competitive analysis. Students can use this resource to access detailed reports on market dynamics, industry forecasts, and consumer preferences, which are essential for validating and refining their small business ideas. By examining Mintel's data, students can identify emerging trends, gauge market demand, and understand the competitive landscape, helping them make strategic decisions and develop targeted marketing strategies.

Sample APA Citation: Failla, J. (2020, April). Quick service restaurants - US. Mintel. https://reports.mintel.com/display/986928/#

Statista This link opens in a new window
Statista is a comprehensive online platform that provides a wide range of statistics, market data, and industry reports. Students can use Statista to access up-to-date information on market trends, consumer behavior, and economic indicators relevant to their small business ideas. The platform’s extensive database allows users to analyze industry performance, benchmark against competitors, and identify growth opportunities. By leveraging Statista’s data, students can make informed decisions, craft data-driven strategies, and gain a clearer understanding of their target markets.
MRI Simmons This link opens in a new window
MRI Simmons Insights provides detailed consumer data and market research that helps users understand audience behaviors, preferences, and demographics. Students can use this platform to gain insights into consumer attitudes, spending habits, and lifestyle trends relevant to their small business ideas. By analyzing the data, students can identify target market segments, tailor their marketing strategies, and make informed decisions about product offerings and market positioning. MRI Simmons Insights enables a deeper understanding of potential customers, helping to refine business concepts and strategies effectively.

Sample APA Citation:

Quick Reports:

MRI-Simmons. (2017). Spring 2018 NHCS adult study 12 month [Target: TUMS-brands used most] [Demographic profile]. https://simmonsinsights.com/

Cross Tabs:

MRI-Simmons. (2017). Spring 2017 NHCS adult study 12 month [Cell phones / smartphones brands owned by consumer demographics - age, gender, household income] [Data set]. https://simmonsinsights.com/

In MRI-Simmons, an index number is a measure of how likely a target is to meet a specific criterion in relation to a base. The base is set to 100, which is considered average. The index number can be used to determine if the target is more or less likely to meet the criterion, and if the likelihood is significant:

90–110: Flat
<90 or >110: Significant
Over 100: More likely to meet the criterion
Under 100: Less likely to meet the criterion

Business Subject Guide

Business
by LuMarie Guth Last Updated Sep 13, 2024 1431 views this year

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MGMT 2140: Exploring Entrepreneurship

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Marketing and Industry Databases

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