The IT Professional's Guide to Researching a New Industry Get to know your industry for a happy and successful career Tom Taulli The IT Professional's Guide to Researching a New Industry Copyright © 2014 Impackt Publishing All rights reserved No part of this book may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, without the prior written permission of the publisher, except in the case of brief quotations embedded in critical articles or reviews Every effort has been made in the preparation of this book to ensure the accuracy of the information presented However, the information contained in this book is sold without warranty, either express or implied Neither the author nor Impackt Publishing, and its dealers and distributors will be held liable for any damages caused or alleged to be caused directly or indirectly by this book Impackt Publishing has endeavored to provide trademark information about all of the companies and products mentioned in this book by the appropriate use of capitals However, Impackt Publishing cannot guarantee the accuracy of this information First published: March 2014 Production Reference: 1240314 Published by Impackt Publishing Ltd Livery Place 35 Livery Street Birmingham B3 2PB, UK ISBN 978-1-78300-006-7 www.Impacktpub.com Cover Image by Aniket Sawant (aniket_sawant_photography@hotmail.com) Credits Author Tom Taulli Reviewers Claudio Fernandes Cover Work Melwyn D'sa Paul Nahay, D.M.A Copy Editors Tanvi Bhatt Project Coordinator Priyanka Goel Ameesha Green Production Coordinator Melwyn D'sa Commissioning Editors Richard Gall Stephanie Moss Acquisition Editor Danielle Rosen Proofreaders Simran Bhogal Paul Hindle About the Author Tom Taulli is the author of numerous books, including All About Short Selling, All About Commodities, How to Create the Next Facebook: Seeing Your Startup Through, from Idea to IPO, and High-Profit IPO Strategies: Finding Breakout IPOs for Investors and Traders He also writes for publications such as Forbes.com and BusinessWeek.com You can reach him at his blog Taulli.com About the Reviewer Paul Nahay received the Doctor of Musical Arts degree in musical composition from Stanford University He taught on the faculties of Stanford University, the University of Maryland at College Park, University of Maryland University College (as Assistant Professor), the Graduate School of the United States Department of Agriculture, and for UMBC (University of Maryland at Baltimore County) Training Centers, where he taught computer programming languages and related technologies for over a decade Paul was a freelance corporate trainer and Microsoft Certified Trainer for 15 years, and instructed hundreds of programmers from over two hundred different companies, federal and state government agencies, and military branches He was a Technical Editor for the John Wiley and Sons/Sybex book Java SE Programming Essentials, by Michael Ernest, published November 2012 He currently designs and teaches programming courses in Java, C#, JavaScript, and Android programming Paul designed and programmed a number of unique music software systems, including ScoreInput, published by Passport Designs Paul's current live keyboard performance software, Keyboard Wizard, has enhanced live performances featuring David Benoit, Tony D'Anza, Linda Eder, Michael Feinstein, Brad Garrett, Kathy Lee Gifford, The 5th Dimension's Marilyn McCoo and Billy Davis, Jr., and Ray Romano It was used on tour with recording artist Melissa Manchester, in the scoring of the USA Network's The Starter Wifeseries, as well as in the Disney/Pixar motion picture The Princess and the Frog, under the baton of Randy Newman In both 2011 and 2012, it enhanced the Kodak Cinematography Awards Ceremonies, one of the official off-screen Academy Awards events for the Oscar-nominated cinematographers Information about Keyboard Wizardis at broadway-performance-systems.com Paul currently works for the U.S Department of Defense, Washington, D.C., as Computer Scientist > >Contents Preface 1 Chapter 1: Researching an Industry Defining an industry Helpful Internet tools Summary 8 Chapter 2: Questions to Ask About an Industry What is the growth rate? Is there a major catalyst for the industry? Is there much government support or regulation? What is the competition in the industry? Is the industry a fad? What is the industry's reputation? Is the industry threatened by disruptive change? Summary 10 11 11 12 12 12 13 13 Chapter 3: Finding the Right Information Evaluating information Free data sites Google tools EDGAR Social media Summary 15 16 17 18 18 19 19 Appendix 21 Research tools Industry databases Glossary 21 21 22 > >Preface While much of the US economy has languished since the financial crisis of 2008, the Information Technology (IT) community has thrived This is especially true for those people who have skills in areas such as mobile, the cloud, social networking, robotics, and 3D printing, all of which are exciting and expanding parts of the IT world According to research from the Bureau of Labor Statistics, the forecasted growth rate in employment from 2010 to 2020 for software developers is 30 percent (the average salary is over 90,000 dollars) Roles such as database administrators, computer systems analysts, and computer research scientists are estimated to see growth rates of over 20 percent IT companies realize that technology is about more than just making core functions more efficient, such as enterprise resource planning, customer relationship management, marketing automation, and human capital management They understand that there needs to be technology embedded in products as well Yes, your refrigerator will probably be connected to the Internet one day, if it isn't already Or consider that your car will have 3G too This is why the famed Internet entrepreneur and venture capitalist Marc Andreessen believes that "software is eating the world" According to him, "More and more major businesses and industries are being run on software and delivered as online services—from movies to agriculture to national defense Many of the winners are Silicon Valley-style entrepreneurial technology companies that are invading and overturning established industry structures." Great, right? Absolutely But if you want to maximize your career in the IT industry, you need to go beyond just having the right skill set It is vitally important that you pick the right segment of the market to focus on Hey, what if you had a job as an IT developer at Borders or Kodak? Well, it may have been an interesting experience, but now you might be without a job and benefits Instead, what if you had worked at companies such as Under Armour, Starbucks, or LinkedIn? No doubt, you would have experienced the exhilaration of high growth and innovation Besides, your equity options will have been worth much more Understanding an industry will help an IT developer with their job With the rise in cloud computing, companies are effectively offloading processes This means less demand for employees that handle routine tasks, infrastructure, servers, and hardware Instead, the focus is on looking for business uses for technologies So again, an IT developer's understanding of an industry will certainly be a huge help Researching an Industry To this, you can go to http://www.census.gov/eos/www/naics/ and then input several phrases that describe the industry You'll get a list of suggested NAICS and you can then select the most relevant one Helpful Internet tools Once you have the right industry target, you will then need to find efficient ways to track your research The good news is that there are many free services to help you out Of course, Google offers an extensive set of online features that allow the easy creation of documents With these, you can copy and paste web links and articles If you use Word, then you can set up a service such as Dropbox With this, you can sync all your files in the cloud This means that any changes you make to a document will be instantly updated across your systems, be that a desktop, laptop, tablet, or smartphone This is especially useful if you are likely to be doing research on a number of different devices A more developed research tool is Evernote It essentially makes it easy to save just about anything, including blog posts and even audio recordings So, what if you like to use old-fashioned pen and paper to write your notes? Well, you can this with Evernote as well, that is, by using a smart pen, like you can buy from Livescribe.com Your notes will be wirelessly transferred to your Evernote account This type of device can cost anywhere from 150 to 300 dollars Then there is OneNote, owned by Microsoft With it, all of your content is connected to the Office apps For example, if you insert an Excel spreadsheet in your notes, you will see preview charts and diagrams at the side of the page OneNote is also optimized for mobile devices That is, you can easily draw, erase, and edit information by swiping your finger across the screen Keep in mind that there are hundreds of note-taking apps on the market, so it is impossible to review all of them in this eBook The good news is that top companies such as Microsoft and Google have top-notch offerings that integrate with their other apps But it is also worth taking a look at apps from smaller companies such as Dropbox or Evernote In other words, before deciding on a note-taking app, it's a good idea to try a variety of them out Summary In this chapter, we covered the essential starting points for your research We learned that all industries have standard codes that can be extremely useful for searching databases I'm sure you'll agree it is critical that you are researching the right industry! We have also had a look at the rich online and mobile tools available, many of which are free They will be very useful as you plow through lots of information You are now ready for the next step, that is, to get a sense of the topics you need to focus on That's what we'll in the next chapter 8< >2 Questions to Ask About an Industry Even industry leaders such as Facebook's Mark Zuckerberg and Amazon's Jeff Bezos realize that they not have all the answers That's why they focus on hiring standout people and asking them tough questions With this process, it is much easier to get the right solutions No doubt a process of rigorous questioning and assessment is useful for just about any effort or project, including the research of an industry Yet, there are some pitfalls With the huge amount of information available, it's common to get stuck in the weeds In this chapter, we'll take a look at the key questions that will help you to get a handle on the main drivers of an industry and provide a solid foundation for your research Questions to Ask About an Industry What is the growth rate? This could be the most important question When looking at a career in a new industry, you are likely to have more opportunities if there is sustainable long-term growth A company like this will have more resources to invest in new products or services There will also be more opportunities for advancement and compensation However, there is no definitive standard of industry growth rates Instead, you'll generally see the following diverse sources: hh Trade Associations: Each industry will have one, and they will have a website that provides lots of helpful information, usually for free Yahoo has a comprehensive list of trade associations here: http://dir.yahoo.com/business_and_economy/ organizations/trade_associations/ hh Private Data Providers: Their research is often extensive, but the price tag can be high It is not uncommon for a research report to cost thousands of dollars Thus, for someone who is researching an industry for career purposes, this is really overkill hh U.S Government: The data is nonbiased and free Some of the key sources include the Census Bureau (http://www.census.gov) and the Bureau of Labor Statistics (BLS) (http://www.bls.gov) Of all these, the BLS has the best information on growth statistics It publishes the Occupational Outlook Handbook (OOH), which is a treasure trove of information on industries and occupations (http://www.bls.gov/ooh) These profiles include details on things such as working conditions, what workers in the industry, and qualifications Of course, there is also important information on the job growth outlook, which covers the years 2010 to 2020 According to the latest report, the top ten categories include (the growth rate is on an annual basis): hh Home health care services: 6.1 percent hh Individual and family services: 5.5 percent hh Management, scientific, and technical consulting services: 4.7 percent hh Veneer, plywood, and engineered wood product manufacturing: 3.9 percent hh Computer systems design and related services: 3.9 percent hh Cement and concrete product manufacturing: 3.2 percent hh Outpatient, lab, and other ambulatory care services: 3.2 percent hh Offices of health practitioners: 3.1 percent hh Software publishers: 3.2 percent hh Construction: 3.1 percent Keep in mind that this information is on a national basis, that is, for the United States as a whole However, the economic situation may be different for a particular state To this end, you can look at the website for a specific state and get data on the growth of its industries 10< Questions to Ask About an Industry Is there a major catalyst for the industry? OK, this may not be the first question that comes to mind, but it is crucial when evaluating an industry Growth is often the result of some megatrend There wouldn't be much demand for mobile developers if the smartphone sector was small and growing slowly, right? In other words, see if there is a huge driving force that should result in long-term growth You should come across this information as you research an industry, as you should start to see certain themes emerge Consider that many industries not have any major catalysts, and this is likely to mean that the growth will be muted If you take another look at our top-ten list mentioned previously, you will notice that all of them are benefiting from major catalysts It should be no surprise that three are in the tech industry, which is currently undergoing tremendous change Four of the categories listed are in the healthcare industry This makes sense The "baby boomers" are now entering their retirement years, with 10,000 people reaching age 65 every day This means they will need more and more healthcare services Now what about the other categories in the top-ten list? Three are in the construction industry While this may seem a bit strange, there is a major catalyst here too In the U.S., the infrastructure of bridges and roads is getting old and needs to be repaired Because of this, there has been growth in construction services More importantly, this is a megatrend that could last for several decades, propelling growth in the industry With such strong growth potential, these industries are also likely to see strong demand for IT professionals After all, industries like healthcare and even construction rely heavily on technology Is there much government support or regulation? Some of the biggest industries in the world got their initial support from governments Examples include aerospace, semiconductors, and even the Internet (which started as a project from the U.S Department of Defense) However, there are risks with this support This is especially the case when there are large government budget deficits, which result in lots of pressure to cut back on programs, for example, Cleantech industries Consider that a variety of companies in the sector such as Better Place, Fisker, and Solyndra have gone bankrupt Without subsidies, they were unable to sell their products at a profit In other cases, there are industries that are under heavy regulations such as healthcare and banking This can sometimes stunt growth as it is tough for companies to move quickly 11< Questions to Ask About an Industry What is the competition in the industry? All industries have competition Whenever there is an opportunity for profit, entrepreneurs will create new businesses to capitalize on it However, over time, this could drive down profits and growth This is especially the case with commodity businesses such as those that produce products that have little differentiation Examples include: beef, natural gas, gold, grains, oil, and so on This is why you want to look for an industry that has barriers for entry and is not easy for new entrants to enter the market For example, in an existing market, companies may benefit from substantial investments, as is the case with railroads Simply put, it would be too expensive for a new player to enter the market Other entry barriers include patents and well-known brands Is the industry a fad? Fads are a common part of the business world Out of nowhere, a certain product will bring about a mania, creating lots of millionaires in the process The problem is that fads disappear, sometimes as quickly as they emerge, which means that the industry could see a huge decline and even bankruptcies So, if you are looking to work in a red-hot industry, be careful The trend may only last a few years You may end up needing to look for another job There are certain industries that are prone to fads They include: hh Restaurants hh Fashion hh Consumer technology It's not always easy to identify a fad Keep in mind that back in the 1960s, the fast food industry was considered a fad Then, companies such as McDonald's proved that quick and easy food on the go could be very big business indeed However, when it comes to a new industry, especially one that gets lots of buzz, there's always a risk that it really is a fad You simply need to be aware of the risk and ask yourself how strong and sustainable a particular sector is, and how much you are willing to take that risk What is the industry's reputation? Every industry has a reputation It's not easy to define since it includes lots of qualitative factors such as customer service, product innovation, transparency, regulatory compliance, and even corporate citizenship There is an annual report called the Global Corporate Reputation Index that ranks the main industries The oil and banking industries are at the bottom of the list, whereas technology is at the top (perhaps the main reason is that the industry launches innovative products that can greatly enhance people's lives) 12< Questions to Ask About an Industry Then there are some surprises For example, the auto industry has an overall strong reputation as there have been strong improvements in reliability and quality Now, this does not mean you should avoid an industry that has an average reputation Keep in mind that companies in the oil and gas industries have grown substantially over the years This trend will probably continue Rather, reputation is likely to be more of a personal consideration when looking at a career choice If you are staunchly against animal testing, then you should probably avoid the pharmaceutical industry, regardless of the growth rates and the opportunity for career advancement It is your career, so you want to be happy in the organization you are working for Maintaining your personal sense of integrity is a key part of job—and life—satisfaction Is the industry threatened by disruptive change? In today's world, an industry can quickly come under tremendous pressure from new technologies Some of these megatrends include social networking, e-commerce, big data, mobile, and cloud computing Companies such as Borders, Circuit City, Tower Records, and Kodak have crumbled because they were not able to remain innovative Then take a look at what happened to the newspaper and travel agent industries, which have seen rapid deterioration The fact is that just about all industries will feel pressure from disruptive technologies This is why when you look at working for a company, it is important to see whether it is focusing on innovation (no doubt, this is really good news for IT professionals) Does it have a digital strategy? Is it using mobile technology? How does the company compare to its competition? If a company is not investing in new technologies and innovations, there's a good chance it will not grow There's even a chance it will not survive at all From a personal perspective, being part of an organization that is forward thinking and innovative is certainly more satisfying than being part of an organization that is past its sell-by-date Summary In this chapter, we took an in-depth look at seven important questions to ask about an industry True, these are far from being the only questions you should ask You should feel confident enough to ask the ones that are important to you However, not go overboard It's easy to get too focused on questions that really not help with your research Be sure that your research is focused on the questions that are important to you Once you have the main questions, it's time to answer them This is what we'll look at in the next chapter 13< >3 Finding the Right Information As an IT professional, you certainly understand that there is no shortage of information about industries Of course, the real challenge is finding the sources that will help answer your questions so you can make a sound career decision This is what we'll in this chapter To provide some background, we'll first look at how to get a sense of the types of information available and how to evaluate this information Finding the Right Information Evaluating information In your search for information, you'll come across many types of sources Here are some of the main ones: hh Traditional publications: Magazine circulation may be rapidly deteriorating, but many have successfully transitioned to the Web All of the industries usually have several publications that cover the news and trends hh Blogs: There are literally millions of these that cover industry topics Yet many are operated by one person, and the content may be fairly subjective, if not incorrect hh Research reports: These come from companies that focus on certain industries Generally, the reports require payment or sometimes an e-mail registration hh Government sites: As mentioned before, the U.S and state governments have many useful data sources When going through these sources, it's a good idea to be skeptical and try to focus on those sources that are reliable There are some other things to consider, such as: hh Date: When was the information published? Let's face it, in today's fast-paced world, research can quickly get outdated So, try to look for research that has been published within the past year or so This is especially important when you're job-searching in a fast changing economic environment It is even more important for the IT field, which seems to change on a daily basis! hh Sources: While websites such as Wikipedia may have inaccurate information, they can still be useful resources This is especially the case if the information has links to back up the statements In fact, it's worth visiting them to get much more information on a topic, particularly early on in your research In today's world, it is easy for anyone to post information The result is that there is lots of hype and false information So, in your research, pay attention to the preceding factors As the Internet will most likely be your main tool for research, it is critical that you get the right information, especially since it could have a big impact on your career Of course, the Internet is likely to be your main source of information, maybe even your only source, when conducting your research However, it is always important to have some healthy skepticism With the growth in social media and blogs, it is not always easy to get a sense of the accuracy of information So again, it is a good idea to focus on trusted sources when conducting your research 16< Finding the Right Information Free data sites There are many places where you can find useful information on the Internet, but here are several that should provide a good overview of industry information All of these will have substantial amounts of information on topics that are focused on IT-related industries, but there are also some, such as the first four sites listed as follows, that focus specifically on IT: hh TechTarget.com: This is a publisher of over 100 websites on IT markets such as virtualization, security, storage, app development, management, and so on They all have a tremendous amount of industry information, including white papers, webcasts, and videos (these are from third-party research firms as well as tech companies) hh TechRepublic.com: This is similar to TechTarget in that it has a myriad of IT topics However, the website has IT professionals as the authors of the content As a result, this is a great place to find new contacts and to get answers to questions hh Dice.com: Founded over 21 years ago, this site focuses on job listings for technology and engineering, but also has useful content on trends, advice, and strategies There are also community groups you can join for many categories such as Cloud Computing, Big Data, Web Development, and Security hh Spiceworks.com: This is a social network for IT professionals with a membership base of over 2.5 million Like the previous sites, Spiceworks.com is rich in content, and the company also has a focus on videos hh Vault.com: This site provides free profiles (about a page long) for 100+ industries Topics include the history and development of an industry, what it's like to work in a specific industry, and tips for success hh Yahoo! Finance: For each industry, you will get the latest news and financial information Perhaps one of the most important parts is the net profit margin, as this will give a strong indication of an industry's capacity for growth This is the percentage of profit compared to the overall sales Yahoo! Finance will compute the average for all industries Thus, when you are looking at a company, compare its net profit margin to the average, which will give you an idea of how well the company is performing against its peers hh About.com: This is a fun site It has tons of information on many topics and on a range of industries Its writers come from different backgrounds, and their experience is invaluable if you want to find out what is going on in certain sectors and what it's like to work in them hh IBISWorld.com: This is a highly-regarded database for industries While it requires a paid subscription, each industry has a free snapshot profile You'll find useful information such as growth rates, the employee count, the number of businesses, and a list of major trends 17< Finding the Right Information No doubt the list could go on and on As you your research, you will certainly come upon some other helpful sites However, for the most part, the websites mentioned here come from trusted sources and have the kinds of information you will need for top-notch industry research Also remember that although IT-specific sites such as techtarget com and techrepublic.com may seem to be the most applicable to you, it is still a good idea to look at more general sites They will most likely be just as useful as those with an IT focus Many industries regard IT as an important part of their growth and will probably look to hire from the sector Google tools Obviously, the first place most people go to research an industry is Google, and you should too The first page of links should provide you with some good resources to understand your industry You can also press the "News" tab at the top of the page to get the latest stories There are also some other free tools available which can help you with your research: hh Think Insights (http://www.google.com/think/): This has tons of content for 14 broad-based industry categories It is largely a marketing–and advertising– focused website, but this can be useful as it allows you to see how different industries present themselves and communicate to the outside world Think Insights also has a visual interface that allows you to easily create graphs that show trends based on regions, countries, or the world You can easily drill down on each to get more information and research hh Google Trends (http://www.google.com/trends): Put in an industry, product, company, or whatever topic you want, and Google will produce a chart that shows the overall level of interest (this is based on the volume of online searches) There will also be links to other content, such as blogs and videos, as well as related search terms EDGAR Companies need to have a strong grasp of their industry and competitive environment In fact, if a company is publicly traded, it will need to record this information in Electronic Data-gathering, Analysis and Retrieval system (EDGAR), which is available from the Securities and Exchange Commission (www.sec.gov) This is the government agency that regulates public companies When performing a search, look for the latest 10-K form, which is a company's annual report, and then use the find feature to search for "industry" You should quickly find a good description of the company's industry Keep in mind that the information is often from third-party research companies, which can be safely considered trustworthy sources There will also be a write-up on some of the major trends and challenges in the industry Looking at annual reports can be a quick way to get accurate information, as well as a smart way to get access to data that may require subscribing to a paid service 18< Finding the Right Information Social media Social media can be extremely useful when learning about an industry You can post questions on Twitter, Google+, and Facebook Hopefully, you'll get some good feedback from your network! However, LinkedIn may be your best social media resource After all, its main focus is on business professionals Again, you can post a status update to get information from your network Each industry is likely to have a number of "groups", which are networks within LinkedIn that share common interests In an industry-focused group, you should be able to learn some interesting details while also expanding your contacts Keep in mind that LinkedIn has over 8,300 groups for Information Technology So, you will probably need to narrow your search, for example, by using a category such as "Security" or "Virtualization" When selecting a group, you should also look at the members and see if they are the types of professionals you want to network Once you join a group, you can sign up for daily or weekly updates However, to get the most value from a group, it is important to provide useful content in the discussion section This can be a great way to demonstrate your abilities and build solid contacts You may also want to look at LinkedIn's "Companies" feature It provides profiles, which include updates, product information, and any related contacts You will also find a list of similar companies, which can be helpful to get a sense of the players in the industry Another social media resource to check out is quora.com Basically, you post a question and should get a good number of quality answers from a large online community, which includes millions of members Keep in mind that the founder of the site was a top engineer at Facebook As a result, many of the users on the site come from the IT industry Of course, you will be able to get responses from people outside of the IT industry as well Just as it's good to keep an open, non-IT mind when searching information from websites and blogs, it can similarly be beneficial to hear from non-tech people on sites such as Quora Summary Well, we've reached the end of the book Now you have the right tools to help make an informed decision about an industry, so you can feel confident and happy about your next career move So, let's recap some of the most important steps: hh Get the NAICs code for an industry This will help when using industry databases hh Consider using online tools such as Dropbox, Google Apps, or Evernote They will be extremely helpful when tracking and organizing your research hh Ask questions that focus on the key parts of an industry, such as growth, competition, catalysts, reputation, and disruptive changes If you not, you will have a tough time getting a sense of what's important Keep in mind that there is lots of information that you really not need to know 19< Finding the Right Information Remember to always take some time to evaluate any information in terms of whether it comes from a trusted source and is fairly recent Unfortunately, there is lots of content on the Internet that is simply not right If you follow it, you could be led in the wrong direction, possibly winding up in an industry whose prospects may not be good, or ending up in an industry that you are not happy in The good news is that by following the advice in this book, you now have the tools to effectively research an industry, which is no easy task More importantly, all of this information will certainly be helpful in providing you with a great career or business! Whatever stage you are at, whether you are a first jobber or a seasoned IT pro, remember that if you're ever making a change and taking a step into the unknown, this book will be there to help you find your way around, to ask the right questions, and to lead you in the right direction The only thing left for me to say is… Good luck and happy researching! 20< > >Appendix Research tools hh Google Apps: Online word processor and free storage of files hh Dropbox.com: A cloud system that syncs files across desktops, laptops, tablets, and smartphones hh Evernote.com: A sophisticated note-taking system that uses image scanning hh Quora.com: A community for Q&As Industry databases hh NAICS (http://www.census.gov/eos/www/naics/): The database for NAICS codes hh Yahoo Directory of Trade Associations (http://dir.yahoo.com/business_and_ economy/organizations/trade_associations/): This can be a great source of industry information hh Occupational Outlook Handbook (http://www.bls.gov/ooh/): A database from the Bureau of Labor Statistics that provides in-depth information on industries and occupations hh TechTarget.com: Extensive information about IT matters hh TechRepublic.com: Another great resource on IT information, with the writers mostly coming from the industry hh Manta.com: Profiles on millions of companies hh Vault.com: This site provides free profiles (about a page long) for 100+ industries hh Yahoo! Finance (http://biz.yahoo.com/ic/ind_index.html): Has financial information for industries hh About.com: A site that provides extensive industry information hh IBISWorld.com (http://www.ibisworld.com): Provides free snapshot profiles on industries hh Think Insights (http://www.google.com/think/): This has a substantial amount of content for 14 broad-based industry categories Appendix hh Google Trends (http://www.google.com/trends/): Shows the level of interest about industries (based on search queries) hh EDGAR—Electronic Data-Gathering, Analysis and Retrieval system (http://www.sec.gov): The database for required company filings, such as annual reports Glossary hh Barriers to Entry: These are the factors that set a company apart from the competition, such as a strong brand or technology hh Commodity Industry: An industry where there is little product differentiation This makes it tough for companies to compete and generate large profits hh North American Industry Classification System (NAICS): These 6-digit codes represent certain industries This is part of the US government's standards when producing economic statistics hh Primary Research: This is when a researcher collects data directly, such as through surveys, interviews, and direct observations hh Secondary Research: This is when a researcher pools available data from primary sources and summarizes it hh Subjective Analysis: This is when an analyst makes judgments about an industry 22< .. .The IT Professional's Guide to Researching a New Industry Get to know your industry for a happy and successful career Tom Taulli The IT Professional's Guide to Researching a New Industry. .. similar to TechTarget in that it has a myriad of IT topics However, the website has IT professionals as the authors of the content As a result, this is a great place to find new contacts and to get. .. you are staunchly against animal testing, then you should probably avoid the pharmaceutical industry, regardless of the growth rates and the opportunity for career advancement It is your career,