Should IBISWorld prioritize expanding its industry report coverage or improving the depth of existing reports?

Introduction

The trade-off question at hand is whether IBISWorld should prioritize expanding its industry report coverage or improving the depth of existing reports. This scenario involves balancing breadth versus depth in IBISWorld's core product offering. I'll analyze this trade-off by examining the business context, user impact, technical feasibility, and resource implications.

Step 1

Clarifying Questions (3 minutes)

• Context: I'm thinking our current report coverage might be reaching saturation. Could you share how our coverage compares to our competitors and what percentage of potential industries we currently cover?

Why it matters: Helps determine if expansion is necessary or if we're already comprehensive Expected answer: We cover 70% of industries, slightly ahead of competitors Impact on approach: If high coverage, focus on depth; if low, consider expansion

• Business Context: Based on our revenue model, I assume report sales are our primary income. How does our pricing structure differ between broad coverage and in-depth reports?

Why it matters: Understand financial implications of each option Expected answer: In-depth reports command higher prices but have lower volume Impact on approach: If in-depth reports are more profitable, might lean towards depth improvement

• User Impact: I'm curious about our user segments. Can you tell me about the split between users who need broad industry coverage versus those requiring deep dives?

Why it matters: Aligns product strategy with user needs Expected answer: 60% broad coverage, 40% deep dive users Impact on approach: Balance strategy based on user segment needs

• Technical: Considering our current data collection and analysis processes, how scalable are they for expanding coverage versus deepening analysis?

Why it matters: Assesses feasibility and resource requirements Expected answer: Expansion more scalable, depth requires new data sources Impact on approach: Might favor expansion if depth improvements are technically challenging

• Resources: What's our current team capacity and skill set distribution between breadth and depth-focused analysts?

Why it matters: Determines if we have the right resources for either option Expected answer: Team evenly split, but depth analysts are harder to recruit Impact on approach: Could influence decision based on team composition and hiring ease