Custom Research vs off the Shelf Report
Businesses today are facing a rapidly changing business environment. To stay competitive, companies must make quick decisions based on accurate information and data. Many organisations now find themselves in a quandary over which kind of market intelligence will be best for their organisation. There are also two predominant methods of acquiring market intelligence, namely, custom research, which satisfies the specific needs of an individual company, and purchased or off-the-shelf reports, which give a high-level view of an entire industry.
Although both types of intelligence provide an excellent source of quality information, they provide different types of information. At Nexus Expert Research, we are here to guide our clients in determining when they require custom research and when they should be using syndicated, off-the-shelf research.
What Are Off-the-Shelf Reports?
Off-the-shelf reports, Syndicated research, are pre-built market research documents available for commercial usage, which include general analysis of the most substantial industry trends, market size, competitive landscape, growth forecasts, and customers’ habits across the major segments.
These reports offer:
- Instant access to comprehensive industry insights
- Lower cost compared to custom solutions
- A reliable starting point for understanding market direction
For companies needing quick market insights or benchmarking, syndicated reports are a practical and efficient resource.
What Is Custom Research?
Rather than relying upon pre-made market research or general market reports that have been produced by others and used for many different clients, custom research is developed specifically for one particular client’s unique goals, target market, and use/reason for obtaining research.
It allows businesses to:
- Explore niche markets or specific customer segments
- Conduct personalized surveys or interviews
- Test new products, concepts, or messaging
- Understand behavior and motivations unique to their customers
Custom research is ideal when off-the-shelf insights cannot answer the precise questions a business is facing.
Custom vs. Syndicated Research: Core Differences
It is necessary to note that while both syndicated research and custom research provide useful data, the primary difference between these two types of research is the amount of specificity they offer. Syndicated industry reports typically cover a large number of industry segments, whereas custom industry reports focus more closely on your unique business issues by providing you with more detailed and specialized information.
Syndicated reports can be a good starting point for gaining a general understanding of the market; however, they may not contain all of the details that are needed when analyzing emerging markets, the amount of product offerings, or different customer experiences with your products. Custom research will provide those details as well as assist you in making better-informed business decisions for your organization.
Making the Right Decision: What Should You Choose?
When deciding between custom research or off-the-shelf reports, consider what you want to achieve, your timeline, and your budgetary constraints. Off-the-shelf reports can provide you with quick, generalised data, while custom research gives you a detailed analysis of the topic at hand, with a greater strategic depth. It is common practice for many companies to combine both types of research; they may review syndicate (off-the-shelf) reports first, to give them context, and then have custom research conducted to confirm their assumptions or investigate additional areas of risk.
How Nexus Expert Research Helps You Choose Wisely
Nexus Expert Research assists organizations in selecting the best-suited research models based on their strategic objectives, timeframes, and information requirements. Nexus expert research provide high-level industry intelligence and customized research solutions. Our researchers deliver results in the form of comprehensive reports that encompass more than just market sizing; they also include competitive analysis, audience profiling, opportunity assessment, and practical guidance on designing and conducting your own custom research.
Conclusion
To choose an appropriate market intelligence strategy, it is critical to know the difference between custom research and off-the-shelf reports. Syndicated reports give you access to generalised and fast-paced insights of the market; custom research provides in-depth information that focuses on a specific area of interest to your business. Both custom research and syndicated reports align with how you intend to use them to address the market’s needs. Therefore, they will enable more informed decision-making processes and secure you with a competitive edge for many years into the future.