Consulting Research  

What is consulting research?  

Consulting research is often done by an outside party to help businesses gather information about the industry, market trends, or opposing entities to help them understand the current market landscape.

Consulting research involves various methods of data collection, including examining public records, analyzing media coverage, conducting interviews, surveys, and online research. It plays a crucial role in informing decision-making processes and enabling businesses to gain a competitive edge in the market. 

What is a research consultant? 

A research consultant is a professional who specializes in conducting consulting research or competitive intelligence for businesses, organizations, or individuals. They possess expertise in data collection, analysis, and interpretation to provide valuable insights and recommendations to their clients.  

Research consultants often use various methodologies and tools to gather relevant information, analyze market trends, assess competitors, and identify opportunities for their clients. 

Why to work with a research consultant?  

Using a research consultant offers several advantages to businesses and organizations:  

• Expertise: Research consultants have specialized knowledge and experience in conducting effective research to make informed recommendations, ensuring that the research is thorough, accurate, and unbiased.
• Time and resource efficiency: Outsourcing research to a consultant allows businesses to focus on their core activities while leaving the research process to the experts.
• Access to data and tools: Research consultants have access to a wide range of data sources, databases, and research tools, enabling them to gather comprehensive and up-to-date information efficiently.
• Objective insights: Research consultants provide an impartial perspective, helping businesses make informed decisions without bias.
• Actionable recommendations: Based on the research findings, consultants can offer actionable recommendations to help businesses improve their strategies, operations, and market positioning. 

Types of consulting research 

Consulting research encompasses various types of research based on the specific needs and objectives of businesses and organizations. Some common types of consulting research include: 

• Market research: Analyzing market trends, customer preferences, and competitive landscape to inform marketing strategies and product development.
• Competitor analysis: Examining the strengths and weaknesses of competitors to identify opportunities and threats in the market.
• Feasibility studies: Assessing the viability of a business venture, project, or initiative to determine its potential success.
• Customer satisfaction surveys: Gathering feedback from customers to measure satisfaction levels and identify areas for improvement.
• Industry analysis: Examining the overall industry landscape, growth prospects, and key players to make informed business decisions. 

Ethical considerations of consulting research  

While consulting research is a legitimate practice, it is important to adhere to ethical guidelines. The collection of information should comply with applicable laws and regulations, respect privacy rights, and avoid engaging in illegal or unethical activities.  

How LexisNexis supports consulting research  

LexisNexis offers solutions to streamline your consulting research with verifiable and accurate information. With Nexis^® Research Solutions, you can explore relevant data in easy-to-filter formats, so you have a more direct path to profound insights and informed conclusions. Access over 36,000 licensed sources and 45,000 total resources in over 37 different languages for complete data.  

Furthermore, LexisNexis provides monitoring and alert services that notify you of any new developments related to your opposition. You can set up customized alerts to stay informed about news articles, legal cases, or other relevant information as it happens, ensuring you never miss important updates. 

With LexisNexis, you have access to the tools and resources you need to conduct thorough and effective consulting research, enabling you to make informed decisions and stay ahead of the competition. 

 

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