Wondering why you should check out the James J. Hill Center’s business resources? Can’t everything be found online nowadays? Not quite. While there are plenty of openly available data resources, often you end up spending your time in place of your money to access and understand them.
Say you’re looking for industrial information? Surely that’s accessible outside a subscription database like IBISWorld? You’re right! Much of the data in IBISWorld reports are gathered from open access resources. These sources can include federal or state government websites, annual reports for publicly traded companies, and general economic indicators published at the national level. For example, the U. S. Census counts more than just people. It also records the number of businesses in certain sectors and industries, which it updates every five years. The Bureau of Labor Statistics releases new information on industry-level employment including information on average employment and projected growth on a regular basis. The Bureau of Economic Analysis has industry and sector data on employment, wages, operations costs, and more at the state level. With all this available data, why bother with subscriptions?
The truth is that these resources are formatted for accuracy, not ease of access for a user. Learning to navigate and decipher government websites, let alone the charts and spreadsheets themselves can be a time-consuming and frustrating endeavor. In the James J. Hill Center’s Business Research Boot Camp, we address what’s publicly accessible and worth digging for and what are more easily found in a subscription database. Typically, while a subscription may cost money, you’re spending that instead of time. There’s no one right way to get data. Just know which of your resources you’re willing to spend!
Curious to learn more about openly accessible resources and how they interact with subscription databases? Check out the Hill’s newest class offering, Business Research Boot Camp. While sold-out for the September session, we’ll be back in November for another round, so please keep an eye on the Hill Center Calendar!
Written by Jessica Huffman, Business Outreach Librarian, at the James J. Hill Center. If you have more questions about the reference library at the James J. Hill Center please contact 651-265-5500 or firstname.lastname@example.org.