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Table of Contents

Executive Summary

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TABLE OF CONTENTS

Executive Summary

Business Information in the UK

DEFINITION

INTRODUCTION

INDUSTRY BACKGROUND

MARKET SIZE

MARKET SEGMENTATION

BUSINESS USAGE/CUSTOMER PROFILE

CURRENT ISSUES

Table 1.1: Companies Supplying Business Information by Type of Information, 1998

Table 1.2: The Major Type of Company Activity in the Business Information Market, 1998

Table 1.3: The Main Suppliers of Business Information ( percent of value sales), 1993-1997

Table 1.4: Business InformationÅ Used on a Daily (Regular) Basis, January-March 1998

Table 1.5: Companies Supplying Business Information by Type of Data, 1998

Table 1.6: The European Electronic Information Market (ECUm), 1994 and 1997

Table 1.7: The European Information Market by Type of Information (ECUm and percent), 1994 and 1997

Table 1.8: The European Online Database Market (ECUm and percent), 1994 and 1997

Table 1.9: The European Electronic Information Market by Delivery Systems (ECUm and percent), 1994 and 1997

Table 1.10: The European Print Media Market (£m), 1993-1997

Table 1.11: The UK Business Information Market (£m), 1993-1997

Table 1.12: Segmentation of the UK Business Information Market by Type of Information (£m and percent), 1993-1997

Table 1.13: Segmentation of the UK Business Information Market by Currency of Data (£m and percent), 1993-1997

Table 1.14: Estimated Distribution Channels for Business Information ( percent of value sales), 1997

Table 1.15: Price Points of the Main Types of Business Information

Table 1.16: Segmentation of the UK Business Information Market by Delivery System (£m and percent), 1993-1997

Table 1.17: The Relative Importance of the Main Information Providers, 1996

Table 1.18: Users of Business Information by Job Title ( percent), January-March 1998

Table 1.19: Users of Business Information by Industry Sector ( percent), January-March 1998

Table 1.20: Typical Uses for Business Information within an Organisation

Table 1.21: Problems Faced by Information Professionals, 1996

The Business Press

INTRODUCTION

MARKET SIZE

MARKET SEGMENTATION

KEY INFORMATION PROVIDERS

BUSINESS USAGE/CUSTOMER PROFILE

CURRENT ISSUES

Table 2.1: Total Circulation Revenues of Business Press Publishers (£m and percent), 1993-1997

Table 2.2: Breakdown of Circulation Revenues by Type of Press (£m and percent), 1993-1997

Table 2.3: Segmentation of the UK Business Press Market by Type of Information (£m), 1993-1997

Table 2.4: Breakdown of the Number of Titles by Sector, April 1997

Market Research Services

INTRODUCTION

MARKET SIZE

MARKET SEGMENTATION

KEY INFORMATION PROVIDERS

BUSINESS USAGE/CUSTOMER PROFILE

CURRENT ISSUES

Table 3.1: The UK Market Research Services Industry (£m), 1993-1997

Table 3.2: Breakdown of AMSO Member Revenues by Activity (£m and percent), 1994 and 1996

Table 3.3: Breakdown of AMSO Members' Revenues by Industry Sector of Client ( percent), 1994 and 1996

Table 3.4: The Growing Importance of International Research for AMSO Members (£m and percent), 1995 and 1996

Table 3.5: Interviewing Methods (£m, million and £), 1996

Market/Company Information and Directory Publishers

INTRODUCTION

MARKET SIZE

MARKET SEGMENTATION

KEY INFORMATION PROVIDERS

BUSINESS USAGE/CUSTOMER PROFILE

CURRENT ISSUES

Table 4.1: The UK Business Report and Directory Market (£m), 1993-1997

Table 4.2: Segmentation of the UK Business Report and Directory Market by Type of Publisher (£m and percent), 1993-1997

Table 4.3: Segmentation of the UK Market by Type of Information (£m and percent), 1993-1997

Table 4.4: The Most Popular Market Data Sources ( percent), 1996

Table 4.5: Purchases of Market Reports in the Last Year (number), January-March 1998

Table 4.6: Purchases of Market Reports by Publisher ( percent), January-March 1998

Table 4.7: Purchasers of Market Reports by Job Title ( percent of respondents), January-March 1998

Table 4.8: Purchasers of Market Reports by Industry Sectors ( percent of respondents), January-March 1998

Official Business Information

INTRODUCTION

MARKET SIZE

MARKET SEGMENTATION

KEY INFORMATION PROVIDERS

BUSINESS USERS/CUSTOMER PROFILE

CURRENT ISSUES

Table 5.1: The UK Official Business Information Market (£m), 1993-1997

Table 5.2: Segmentation of the UK Official Business Information Market by Source (£m and percent), 1993-1997

Table 5.3: Segmentation of the UK Official Business Information Market by Type of Data (£m and percent), 1993-1997

Table 5.4: Net Expenditure Account for the Office for National Statistics (£m), Year Ending 31st March 1997

Table 5.5: Total Sales of the HMSO/The Stationery Office (£m), 1992-1997

Table 5.6: Examples of Official Publishers Not Covered by Crown Copyright, 1998

Table 5.7: Sales of Crown Copyright Material by Business-Related Departments (£000), 1996/1997

Table 5.8: A Breakdown of Sales of Crown Copyright Material by Business-Related Departments, 1996/1997

Table 5.9: Companies House Key Statistics, Year Ending March (000), 1993-1997

Table 5.10: Companies House Turnover (£m), Year Ending March 1994-1997

Table 5.11: Breakdown of Companies House Revenues (£m and percent), Year Ending March 1996 and 1997

Other Information Sources

INTRODUCTION

MARKET SIZE

MARKET SEGMENTATION

BUSINESS USAGE/CUSTOMER PROFILE

Table 6.1: The UK Market for OtherÅ Forms of Business Information (£m), 1993-1997

Table 6.2: Segmentation of OtherÅ Business Information by Type of Information (£m and percent), 1993-1997

Table 6.3: Management Consultancy Information Revenues (£m), 1993-1997

Table 6.4: Breakdown of Management Consultancy Association's Revenues by Industry Classification of Client ( percent), 1997

Third-Party and Electronic Distribution

INTRODUCTION

MARKET SIZE

MARKET SEGMENTATION

KEY INFORMATION PROVIDERS

BUSINESS USAGE/CUSTOMER PROFILE

CURRENT ISSUES

Table 7.1: The Key Phases of Business Information Delivery, 1970-1998

Table 7.2: The UK Electronic Information Delivery Market (£m), 1993-1997

Table 7.3: The UK Electronic Information Delivery Market by Type of Information (£m and percent), 1993-1997

Table 7.4: The UK Electronic Information Market by Delivery (£m and percent), 1993-1997

Table 7.5: Segmentation of the Online Market by Type of Information (£m and percent), 1993-1997

Table 7.6: Segmentation of the Online Market by Currency of Data (£m and percent), 1993-1997

Table 7.7: Which Online Host is Most Heavily Used in Your Library/Information Department?, 1996

Table 7.8: The World Market Share of Online Host by Value ( percent), 1996

Table 7.9: Which Online Business Database Does Your Library Information Department Use Most Often?, 1996

Table 7.10: Access to Electronic Delivery Systems ( percent), 1997Å

Table 7.11: Access to Electronic Delivery Systems by Type of Company ( percent), 1997Å

Table 7.12: Main Uses of the Internet ( percent), 1997Å

Table 7.13: The Main Reason for Using Online Information SystemsÅ ( percent), 1997Î

Table 7.14: The Main Job Function of Online InformationÅ Users ( percent), 1997Î

Table 7.15: The Importance of End Users for Online SearchingÅ, 1997Î

Table 7.16: The percentage of End Users with Personal Desktop Access to Various Media ( percent), 1996

The Future

THE INFORMATION AGE

KEY TRENDS IN THE NEXT 5 YEARS

NEW MEDIA AND THE BUSINESS INFORMATION PUBLISHER

FORECASTS

Table 8.1: Summary of Major Changes in the Business Information Market, 1998 to 2005

Table 8.2: Forecast of the UK Business Information Market at Current and Constant 1993 Prices (£m), 1998-2002

Table 8.3: Forecast of the UK Business Information Market by Delivery System (£m and percent), 1998-2002

Table 8.4: The Fastest-Growing Sectors of the Business Information Market by Value ( percent increase), 1998-2002

Table 8.5: Forecast of the UK Business Information Market by Type of Information (£m and percent), 1998-2002

Table 8.6: Forecast of the UK Electronic Information Market by Delivery System (£m and percent), 1998-2002

Table 8.7: Forecast of the UK Electronic Information Market by Type of Information (£m and percent), 1998-2002

Table 8.8: Growth of the Online Information Market by Currency of Data and Type of Information ( percent), 1998-2002

Sources

ASSOCIATIONS

PERIODICALS

DIRECTORIES

GENERAL SOURCES

HBI UK INFORMATION SOURCES

GOVERNMENT PUBLICATIONS

OTHER SOURCES

SELECTED COMPANIES

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EXECUTIVE SUMMARY

Changing Structure of the Market

The business information market is experiencing a subtle change in structure. Much of this change has been driven by advances in technology. The relative cost of powerful databases and widely compatable electronic delivery channels has plummeted in real terms, reducing barriers to entry for new and developing suppliers. This is leading to more mergers and acquisitions, and the development of a wider range of strategic partnerships. The result is a convergence in the information industry, resulting from two forces:

* The information delivery companies are seeking either to acquire content or provide unique services that add value to the content they already provide.
* The content providers are working to acquire or secure delivery mechanisms, both directly and through new distribution partnerships.

Traditionally, merger and acquisition activity in the business information industry has revolved around traditional print publishers acquiring desirable content. Today, however, traditional print publishers have acquired, merged or formed strategic partnerships with software developers and delivery companies, highlighting new trends which are changing the face of the business information publishing industry.
These advances in technology are also having a marked effect on the profile of the information purchaser. Direct access by the end user is broadening the potential market and introducing the need for more intelligent and intuitive packaging of information supplied.
There are four main forces driving the changing structure:

* increasingly, content need not be divorced from delivery
* the need to address the non-expert user
* new technologies are reshaping industry pricing structures, i.e. the rise of micro-payment and macro-payment systems
* new delivery mechanisms are opening new sources of revenue.

Industry Convergence and Expansion

The major publishers in the business information market have often seen themselves as distinct from the mainstream media market. This distinction is, however, being eroded. Many of the new media developments impacting on the large consumer print publishers have major potential within the business information market.
The advent of the Internet, satellite television and digital television are driving merger and acquisition activity across three increasingly related industries:

* information technology (IT)
* the media (including the traditional business information market)
* communications industries.

Business Information Supergroups

The past 5 years have also seen the establishment of a number of global business information supergroups. These groups are principally media companies, who have acquired major interests in the business information market. These groups are leading the changing structure of the industry, and include:

* Reed-Elsevier
* Reuters
* Pearson
* United News & Media
* Primark
* WPP
* Taylor Nelson
* The Dialog Corporation
* EMAP.

Knowledge Management

Knowledge management seeks to improve and manage a company's ability to utilise the available information resources effectively and in a timely manner to a company's benefit or advantage. Knowledge management first requires the establishment of a purpose behind a company's acquisition of information (i.e. it has to have an ultimate goal) and the formulation of a strategy to specify requirements and determine sources. A process must then be established to integrate internal and external information, turning it into valuable knowledge that delivers business advantage to the company's employees.
In recent years, more and more organisations are:

* seeking ways to use information more effectively
* seeking to use technology more effectively.

The result is that companies are employing techniques, information sources and technologies that offer more opportunities for the integration of information. They are increasingly seeking improved service in terms of the range of information available from major business information suppliers and how to use it.

Information Overload

Recent studies have shown that an excess of information is causing problems for companies around the world. A combination of globalisation and increased competition is driving the need for more information at the same time as the sources of information are multiplying. The result can be counter-productive, with companies trying to distil ever more information into something that actually delivers value to the organisation. As a result, companies are looking more closely at their information needs and thus turning to techniques and products offering improvements to knowledge management.

The Return of the Information Professional

Despite repeated warnings of the demise of the information professional, he/she is still an important hub for information access in most major companies. This is despite the introduction of easy-to-use online systems, CD-ROMs, the Internet and push services. In many organisations, the role has been redefined and now encompasses a more strategic focus. Information managers are still required to deliver the traditional help and advice, but are increasingly involved in the formation of global business information strategies. These departments are expected to harness the opportunities presented by increasing access to valuable information and by managing the process to deliver real value.
The professional will often be required to:

* develop and implement a corporate-wide business information strategy
* oversee new systems to cross reference external and internal information sources
* help end users cope with information overload.

Push technologies and online systems are still largely generic in nature, and the professional is still needed to customise information.
The information professional can often `discover' information by sophisticated multilevel searching, which by-passes the end user.
Business information is more important to companies today than in the past. Companies need information professionals who can tackle their information needs from a strategic point of view.

THE FUTURE

Key Trends in the Next 5 Years

* Content will remain king. However, knowledge will command a premium. Skills at interpreting data will grow in importance, while those presenting raw data will decline in importance.
* New media shakeout -- new electronic media will consolidate.
* Information delivery will cease to be an issue, i.e. content will be available across all formats.
* Customised services will rise in importance.

Five elements will be essential for future success in the information market:

* the ability to offer value-added data
* the ability to supply information across a range of delivery media
* the ability to present data attractively and in user-friendly ways
* the ability to package information to meet the needs of specific functional or vertical market segments of end users
* global solutions.

Recommendations for Information Suppliers

* exploit new media opportunities through partnerships and joint ventures
* build maximum flexibility into new media operations
* increase the added-value element of products
* exploit new media advertising opportunities
* see the Internet as an opportunity not a threat
* focus on emerging market segments and tailor products accordingly
* adopt a business strategy which encourages scoping of the external environment to identify and rapidly exploit emerging opportunities.

FORECASTS

Between 1998 and 2002, Key Note expects the business information market to grow by around 48.3 percent at current prices, or by 34.5 percent at constant 1993 prices. Growth in the market will slow compared with the past 5 years, given the expected slowdown in the UK economy, the growth of lower cost forms of information delivery (e.g. the Internet), and the increase in lower unit priced information cuts -- targeted at small office/home office (SoHo) and small and medium enterprises (SMEs).

Text © 1997 Key Note

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Last updated by Duncan Nottage 5th March 1999