Wednesday, 19 October 2016

Database review - IBISWorld

Scenario 1. You have an assignment that requires you to write a news article on  a large  Australian or New Zealand company. Where do you get the background information from? IBISWorld is a good starting point, with their Australia Company Reports. This database provides analyses of over 2000 companies (private, not-for profit and government organizations), produced by a team of experts who are regularly monitoring the economic state of our country. Each PDF report provides key statistics, management  and financial information, including main competitors and related companies.

Scenario 2. You are part of a groupwork project required to prepare a business plan for a company in a specific field - where do look for information on that sector? Using IBISWorld, it is easy to identify trends in growing, or slowing industries. Look at the Australia Industry Lists and Australia ANZSIC Industry Reports. Among the many online production, sales and services industries, who would guess that pipeline construction and cotton ginning in Australia are among the current top 50 growth industries?  Search for aquaculture to health care, horticulture to wind farming, and see how these sectors are faring.

IBISWorld was created by an Australian businessman, and the company has been researching in the field since 1971. Recently updated reports are prominently displayed on the home page, and links to several tutorial videos assist in using the database. Other features of the database are reports on economic risk factors and 18 month business forecasts. Download the Excel spreadsheets, and play with different hypothetical futures.

Business students and researchers are not the only people who will benefit from the information this database can supply - students from all disciplines will find useful information or trends to enhance their studies.  For example, reports from the section, Australian Business Environment Profiles, look at specific aspects of the Australian economy. Trends in consumer or public behaviour can be viewed on a range of issues, including discretionary income, the number of dentists per 100,000 of  the Australian population, or the domestic price of eggs.  Welcome to IBISWorld.

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