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Effective business intelligence research involves using online sources, prioritizing quality over quantity, using paid databases wisely, and verifying the accuracy of information. The internet has made business intelligence more accessible, but it’s important to analyze fact from fiction.
To conduct the most effective business intelligence research, use online sources, stick to quality over quantity, make judicious use of paid databases, and be careful to analyze fact from fiction. These four tips will ensure that your research methods are targeted and efficient. Business intelligence gathering is an area of research with increasing accessibility to laymen. This is due to the widespread use of the Internet to store, transmit and present data for free public consumption.
In recent decades, business intelligence was difficult to collect. The common standard was to release government-mandated information, such as financial statements, by carefully analyzing any other type of information through controlled channels. The kind of consumer-oriented, instantaneous dispersal of commercial information that the Internet allows for was unknown at the time. Business intelligence research was often conducted by journalists or insiders who could conduct first-hand investigations into matters that were largely inaccessible to the public.
The Internet has drastically changed business intelligence research. There is a great deal of information available about public and private companies and their key employees, and most of it is free to the public. This is largely the result of various government agencies digitizing their records and creating internet-accessible databases that anyone can use to look up business information. The first tip for conducting effective business intelligence research is to do most of it online. This will save you time and is more thorough because you can easily perform the same search in multiple jurisdictions by visiting different websites.
Another tip is to favor quality over quantity. There is so much information available online that it can be easy to lose focus. Develop a list of the best research sources by topic and refine the list over time.
We advise you to use paid high quality business research databases wisely. There are some excellent business information aggregators that have a reputation for finding relevant and accurate information and organizing it for analysis. This is a great way to save time doing your primary research and can serve as a check against the information you find on your own.
Finally, be careful to verify the accuracy of information, especially with online sources that are derived from the public. Social media has created a backlash for truth in the news. Occasionally, information will spread rapidly across the Internet without any verification of the underlying truth of the matter. Traditional news sources gather information in a hurry to be the first to report it, perpetuating the problem, and once information is stored on the Internet, it lives forever. Be sure to research your business intelligence research extensively to see if the information was ultimately proven to be accurate.
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