Industry Barometer FAQs
It is a measurement tool that allows an organization to gauge both current business conditions and projected future business conditions for its specific industry or membership group. The data is supplied confidentially by members, usually quarterly, forming the basis of the report. See Sample
It serves two main functions: 1) to provide a member benefit in terms of business intelligence and, 2) to provide the association itself with real-time industry data. The premise behind the Industry Barometer is to gauge current and future business conditions, making it a valuable tool for member companies to understand where their businesses are today and where they are heading tomorrow. See Sample
Trade associations exist to serve members and, to that end, provide useful benefits to help members thrive. The Industry Barometer captures actual business information with little effort from members and provides a high-value, low-cost business tool. In addition to providing real-time industry data, the longer-term benefit is a map of industry trends to help members make informed business decisions moving forward. Benefits
All business owners and executives seek sources of information about their industry to help them make decisions about hiring, expanding, purchasing, making acquisitions, and multitudes of other decisions. We find that business owners will spend—literally—two minutes online taking an anonymous survey in order to gain a report that can predict sales, revenue, and other factors nearly a quarter in advance.
The firm has been conducting market research since 1985. Jim Noon, the founding principal, administered the business information program for the North American Die Casting Association (NADCA), which included many member surveys. Later, he formed his own company, which continued doing NADCA’s surveys as well as those for other trade associations. Jim developed the techniques and measurement tools that are now available to clients as their custom industry business confidence reports, called Industry Barometers. Jim has a broad base of experience in many industries from decades of running his own business, which serves companies in all segments of the economy. Our staff has decades of experience in market research and marketing communications. About Us
The data is collected via “blind” surveys, so even we don’t know the identity of any given company responding. The surveys are deployed to your membership, and they respond anonymously online. Surveys are stored in our private facility for a short period and then destroyed.
You can offer members a valuable, significant benefit at reasonable cost—a benefit that can help them navigate ever-changing business conditions. Further, your association can garner real-time insights about the health of the industry, as well as future projections, enabling you and your staff to make more educated decisions. Benefits
Industry Business Reports LLC is the only organization that provides this resource. For decades, we have had a single focus—to administer the Industry Barometer surveys with precision and accuracy for the benefit of member organizations. We offer a single unparalleled product to clients—the customized Industry Barometer Report—and we have been doing that one project exceptionally well for more than 35 years. About Us
Two reasons: confidentiality and response rates. Statistically, members are more likely to respond to a professional third-party because they are more secure in the knowledge that their personal data will not be disclosed or shared. They are correct. We achieve response rates in excess of 20%, which is high from a statistical perspective for any type of survey.
The concept is based on extensive research into business conditions and measures of many industries. Accurate formulas and calculations were developed from this research to convert the raw data into something meaningful to member participants. We work with association stakeholders to add metrics that pertain to their specific industry and are highly valuable to members. The survey evolved to include more graphs and charts in the final report, making it easier for members to understand and apply the report to their own business situations. Today, the basic framework for the metrics is customized to the parameters of any given industry.