Business information is critical for strategy formulation, marketing plan development, economic sourcing of materials and supplies and other business needs.
Along with scientific, technology & medical and education/training information, business information delivery has been transformed by the Web.
Business information consists mainly of market research reports for different industries/regions, company information including credit and financial info, economic analyses of countries and industries and news on developments of business interest.
How is Business Information Used?
As discussed in the article on business strategy development, strategy formulation depends heavily on gathering information about external environment, market trends, competitors, technology developments, and prospective customers and their plans.