Business Research:
Finding Industry Trends and Projections

Hoovers

You may be asked to identify industry trends and projections for an assignment. The Hoovers database can get you started with this. First log on to Hoovers from the Databases by Title link on the library homepage.

Link to browse Hoover's industries

This link will take you to the list of industries in Hoovers:

List of industries

Click on a specific industry to view information about it:

Information on a specific industry

Hoovers indicates, for example that one identifiable trend in the Arts, Entertainment, and Recreation industry is rising ticket prices:

Business trends


ABI/INFORM and Business Source Complete

You can also use business databases such as ABI/INFORM Complete and Business Source Complete to search for articles about trends in a variety of industries. Like Hoovers, these database are found by clicking on the Databases by Title link on the library homepage.

Once you have logged into ABI/INFORM Complete, a possible search statement to find trends in the restaurant industry might be "restaurant industry" AND (trends OR projections):

Searching ABI/Inform

HINT: You can limit your search to full text articles, peer-reviewed journals, and by publication date:

Limiting your search

Once you conduct your search you can choose relevant articles from your results list:

Relevant articles from ABI/Inform

The Business Source Complete database can also be used to find articles about industry trends:

Relevant articles from Business Source Complete


Using NAICS Codes in Databases to Find Industry Trends

If you have the NAICS code for an industry, you can use it to find trends for that industry by going to a UMUC Library database such as ABI/INFORM Complete or Business Source Complete. Enter the NAICS code in one search box and use the drop-down menu next to that search box to select the NAICS code entry. Then, in another search box, enter
trend* OR forecast* OR predict*

The screen shot below shows a search in Business Source Complete for trends related to coffee shops, which are classified under NAICS code 722515.

Search using NAICS code


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