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Markets and industry library on lexisnexis

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Alternate/previous data source names: market

Service/portal name: LexisNexis (http://www.lexisnexis.com/research or http://nexis.com)

Source description: Markets and Industry Library on LexisNexis is a compilation of thousands of sources that together contain an extremely wide and industry research.

Searchers will find company information, demographics, marketing and advertising resources, overviews of markets and technology, market research reports, full-text news stories, news by industry, and selected reference materials.

For a complete listing of sources included in this LexisNexis library, go to http://www.lexisnexis.com, click on the Customer Service Center link at the top, and go to the Searchable Directory of Online Sources.

Pricing: A number of pricing models are available to LexisNexis subscribers. Some researchers will choose a flat-fee account, diminishing the importance of individual search costs.

For transactional searchers, a search in the PROMT or Marketing & Advertising Reference Service (MARS) sections of the MARKET library costs $15, with viewed documents costing $4 each. The News (ALLNWS) section costs $36 to search, with viewed documents priced at $2.75 each.

Source content: The Market and Industry Library contains the full text of information previously published in the business, news, trade and market research literature.

The content is grouped in databases within the library, with familiar sources such as Gale’s PROMT, IAC’s Marketing & Advertising Reference Service (MARS), Investext Reports, the Encyclopedia of Associations, and a multitude of newspapers.

There are, among other things, business directories; Hoover’s company profiles; and directories of advertisers, banks, information centers, and governmental advisory organizations. These sources can be searched individually, in customized groups, or in total.

To access the content of the Markets and Industry Library on http://www.lexisnexis.com, use the library group file name MARKET. On http://nexis.com, use the Power Search tab, click on Find More Sources, and choose Market & Industry.

The Nexis.com portal contains a few more databases in the Market & Industry category than the MARKET group file does. For exact differences, contact customer service.

The content is presented in plain-text documents as taken from the original source. In some instances tables or graphs have been omitted.

Documents can be downloaded to a file or e-mailed to the researcher. Shows results of asearch for wd-40 and lava in MARKET;MARS (MARKET=Markets and Industry Library; MARS=Marketing & Advertising Reference Service).

There are similar sources for the type of information found in the LexisNexis Markets and Industry Library.

The Gale Group business databases overlap MARKET, as the business and news databases on Dialog and the news files on Factiva. All of these sources have value and should be part of a researcher’s arsenal of resources.

Keep in mind that no single source has everything, and that each source has some things not available elsewhere. It is good strategy to search multiple sources when a comprehensive search is needed.

The opportunity to pay by credit card makes Nexis.com a more workable alternative for some searchers (note that DialogSelect also has a pay-by-credit-card option called Open Access).

Another feature recently added to the LexisNexis search service is the ability to customize source selection. Searchers can create tabs leading to frequently used sources. Click on the tab to jump directly to the desired source.

Source evaluation: Market and industry researchers have any ongoing and consistent need for information, ranging from the broadest industry overview to the smallest statistic or data point.

The find that information in a timely and cost-effective way, researcher need to be able to search broadly across the published literature as well as to drill down with a precise search strategy. The Markets and Industry Library meets this need.

The various pricing models available to LexisNexis subscribers are competitive with similar sources.

It is hard to say whether any one of these models presents a good value, since research budgets and needs vary so widely.

Suffice it to say that if the Market and Industry Library provides just what you need to answer the question at hand, especially if the answer is not available in other sources, then it offers tremendous value.

LexisNexis keeps its databases as current as possible, uploading information as it becomes available. Depth is often a more important factor, one that researchers often consider when choosing which source to search for a given project.

For example, on LexisNexis, the PROMT database goes back to 1985, whereas on Dialog that database goes back to 1972.

For the majority of searches, such differences probably will not matter; however, for those projects where it does matter, it is important to be aware of the relative depth of the various research sources.

Historically the database aggregators such as LexisNexis, Dialog, and DataStar have offered powerful search capabilities to subscribers. The trade-off for these search capabilities is the fact that they can be a little intimidating to search.

A bit of training and practice is generally requied. But that should not keep the beginning researcher from exploring these resources.

LexisNexis offers a fairly user-friendly interface through the Nexis.com portal, and the LexisNexis Web site provides comprehensive FAQs and search tips. Also, trainers are available for free telephone training and will spend as much as an hour at a time instructing the new searcher.

Customer service is top-notch and available at no cost twenty-four hours a day, seven days a week.

This level of customer service coverage is not universal. For instance, Dialog’s Knowledge Center operates only Monday through Friday, 8:00 a.m. to 10:00 p.m. Eastern time, and it is closed on major U.S. holidays.

The Markets and Industry Library compiled and offered through LexisNexis is an important tool to the market and industry researcher.

The costs may seem high compared with some of the business databases available through libraries, but the transactional pricing and powerful search capabilities make it a worthy addition to the researcher’s toolbox.

Source value rating: All of the data source reviewers were asked to rate each source on the basis of the following eight categories, using “10” as the highest rating and “1” as the lowest (“80” being a perfect score):

1. Relative cost-to-value:   8
2. Relative timeliness of data:   10
3. Relative comprehensiveness of data:  10
4. Ease of use:     7
5. Search options available:   8
6. Level of support services:   10
7. Level of training offered:   10
8. Amount/kinds of special services offered: 10
Total Rating:     73

Useful tips
• Take advantage of LexisNexis training. They are good at it.

• Call customer service and ask them to suggest search terms or syntax. Ask them to try your search for you to see how it works before you run it.

• Use the Online Directory of Sources to see if the source you need is available and what dates are covered.
 

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