Sector research in business entails a thorough examination of specific industry niches, enabling firms to grasp market dynamics, emerging trends, and potential risks. By conducting sector research, businesses are able to create a more targeted sales approach and discover unique opportunities to expand their serviceable addressable market.

To perform sector research, start by collecting comprehensive data on market size, competitive landscape, consumer behaviour, and regulatory frameworks. Subsequently, apply analytical techniques to extract actionable insights that inform strategic choices. Sector research tools such as the FullCircl Customer Lifecycle Intelligence (CLI) platform aggregates this data into an intuitive platform.

Sector research software comprises of data collection, market analysis, and predictive models. These solutions often feature data visualisation capabilities and monitoring functionalities to enhance decision making in the pre-sales process.

Embracing sector research yields multifaceted benefits: it empowers organisations with data-driven decision making, fosters a competitive edge by uncovering market gaps, spotlights growth prospects, and bolsters risk mitigation in strategic planning.

A sector refers to a specific industry or segment of the economy that can be analysed and studied as part of sector research. An illustrative sector example could be the technology sector. The technology sector encompasses a wide range of businesses involved in the development, manufacturing, and distribution of technology products and services.

In essence, a sector is a higher-level classification that includes several related industries, while an industry is a more specific category that defines businesses with similar activities or products. When conducting sector research, analysts often examine trends and data at the sector level to gain insights into the broader economic landscape, and then delve into specific industries to understand more granular variances.