In this article we’ll discuss the sources and common uses of business information. We’ll also look at integrated reference sources and the value of business information. To get you started, read our definitions of business information. And don’t forget to check out our new video series, “Business Information for the Business Mind.”
Sources of business information
If you’re in the market for a business book, a reference source, or a business reference, this updated list of books and articles from Lorna Daniells is a must-read. The selections include books by Lorna Daniells, such as her Guide to Business Books and Reference Sources. These reference sources cover a wide range of topics, from the basics of business to the latest developments in the world of business.
The types of business information available to businesses include balance sheet information, sales and purchases information, industry analysis, country and industry analysis, company profiles, and industry and market research. It is important to have current information to make informed decisions about a business. Verbal communication is still considered the best method of information transfer, as face-to-face meetings can be difficult and costly. The ability to send and receive non-verbal messages is a key benefit of verbal communication.
Common uses of business information
Whether you need to do your taxes, plan your next business venture, or research the competition, you can find and use business information. The information available to you comes in the form of general surveys, data, publications, and the Internet. It may also be found in company records, personal conversations with friends and associates, and business magazines. Some information may be classified as “external,” but it’s largely internal. Other sources of business information include trade journals, databases, and government statistics.
In addition to being useful for your own business, this information is also useful for other types of businesses. Some types of information are geared toward larger corporations and the general public. For example, programs on investing in real estate are geared toward small business owners, while others are geared to big companies’ changing fortunes. The problem with broadcasting business informations is that it’s broad and specialized, so it’s hard to get a program aimed at a niche group.
Integrated reference sources for business information
Business informations is in high demand in every organization, both small and large. Demand for this type of information is dynamic, ever-changing, and often short notice. Consequently, most organizations struggle to find accurate information to serve their growing and constantly changing needs. While the list of business informations resources below may seem extensive, it is not exhaustive. Some of these information products integrate several types of sources into one, making research considerably simpler. For example, one entry in an integrated reference source may include contact information, financial statistics, and a company’s history, as well as links to recent news stories about that company.
Integrated reference sources for business informations are based on government-collected data and can be utilized for statutory purposes, as well as private sector research. Some databases also contain general business informations for consumer and job hunters. There are tens of thousands of publications and databases dedicated to business informations. The best sources have both detailed and concise information. But what makes them useful? In a nutshell, these tools help business professionals make better decisions.
Value of business information
The value of business informations resides in the actions that result from it. For instance, knowing that customer satisfaction is poor will only be of value if you can change your operations to improve customer satisfaction. The process of generating and storing business informations should be part of a larger review process. This way, you can make an informed decision about the value of the information that you collect and store. However, if the process isn’t part of a review process, the information isn’t likely to have any useful value to your business.
