Where to Find Reliable Data about Your Market 


Identifying legitimate places to collect reliable data about your market means that you need to ask the right questions. What are the qualifications of the person who collected the data first? What sources do they use? Can you check out the source for yourself to ensure that the way they reported it is right? 

Most of the time you can assume the following sources are accurate, but you should always look to potential bias when others report their findings.

* Government – Websites that end with .gov are usually very accurate with the information they provide. The reason is that they have to be unbiased with the information they collect and report, and they understand how to do it right.

* Industry Associations – While some industry associations might put out some information that is biased toward their industry, their methods of collecting the raw data are usually very above board. You can typically trust an industry association for accurate data.

* Trade Groups – The same applies with trade groups. Of course they want to represent their trade well, but that is the only place their bias exists. They collect the information in ways that lend themselves to accurate reporting.

* Business Magazines – Generally, business magazines that are well known and are real publications and not just advertorials in disguise will have accurate information that you can use to get started with collecting your data. If nothing else, they may lead you to more sources.

* Academic Institutions – Usually these websites end in .edu and can be relied upon to produce accurate information collected ethically. You can find the info online, but you can also visit their libraries in many cases. You can access academic information and scholarly information via Google Scholar. 

* News Sources – Sources like The New York Times and other reputable newspapers are great places to start your research. While you should take care with opinion pieces, even slanted and biased opinion pieces can get you started if they list their sources so that you can go straight to the information. Typically, newspapers have fact checkers so most of the time you can be assured that the information is accurate.

* Third Party Research Groups – There are also companies that do research independently about various industries and information. These are excellent places to look for great information about your industry to help you answer your questions. One very reputable group is Pew Research Center.

* Individual Experts – You can also get information from well-connected and well-credentialed individuals who are known as experts in their field. Not only is this a great way to get the right information for your research, it’s primary data which is a lot more beneficial than secondary data.

Finding reliable data for your research about your market is an essential step to conducting market research. You need the right information at the right time to answer your questions and help you move your business forward.

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