Identifying Trends in the External Environment
External environment analysis is useful in identifying trends that impact a business and its ability to operate - and can also reveal new market opportunities. The sources below are 'best bet' tools for this kind of research.
- Business Source Complete This link opens in a new window
Find relevant articles from trade journals, scholarly journals, and magazines by combining company or industry names with keywords like "regulation", "regulatory", or "policy" - IBISWorld This link opens in a new window
Look at the "Operating Conditions" sections of industry reports to identify important political, regulatory, and technological trends, and the "Product and Market" sections for information about economic factors. - Legal Collection This link opens in a new window
A source for information on current issues, studies, thoughts and trends of the legal world. Search by company name or industry keyword. - Mintel Academic Access This link opens in a new window
Identify key socio-cultural and economic trends within industries in the "Market and Consumer" sections of reports, and factors impacting purchasing decisions within reports detailing specific consumer groups - NetAdvantage This link opens in a new window
Industry Surveys are very robust, and include details about industry drivers, trends, and relevant external forces.
- Pew Research Center Publications
Find reports regarding many aspects of American life, including demographics, consumer behavior, interests, and habits.
Analyzing Economic Trends
The statistical information needed for economic trends analysis is largely available on the open internet. A wide array of U.S. and international economic data is published by government entities and international agencies such as the World Bank and International Monetary Fund (IMF). Commonly used sources of data are linked below.
- Beige BookThe Summary of Commentary on Current Economic Conditions by Federal Reserve District, also known as the Beige Book, is a report published 8 times a year providing information on current economic conditions by District. Information includes summaries of anecdotal reports of consumer spending and labor market.
- U.S. Bureau of Economic AnalysisThe Bureau of Economic Analysis (BEA) compiles extensive data on gross domestic product (GDP), personal income, and corporate profits.
- U.S. Congressional Budget Office (CBO)The CBO produces independent analyses of budgetary and economic issues, providing recurring economic forecasts, budget reviews, projections for Social Security, analysis of federal debt, and more.
- U.S. Economy at a Glance: BLSNational and state-level data from the Bureau of Labor Statistics, including unemployment, payroll and earnings information, and price indices.
- Federal Reserve Economic Data (FRED)Trusted source for economic data. Download, graph, and track 817,000 US and international time series from 108 sources.
- globalEDGEView economic, political, and demographic information by country or industry.
- World Bank Open DataEconomic profiles of over 200 countries and data related to international socioeconomic development.
