Methodology

The Global Market Model's methodology ensures that our data is of the highest quality. It starts with gold standard data sources and correlation-based modeling techniques. This is supported by our market expertise and the thousands of expert interviews we conduct each year to verify our data.

Oliver Guirdham
Managing Director

Company Financials

We track the financials of more than 3000 companies. By aligning their revenues with our market taxonomy, we are able to cross verify our market numbers and assess the concentration/fragmentation of the market landscape.

World’s Strongest Data Sources

We draw data on the most well-regarded and reliable data sources, including national statistical organizations, supra government agencies, leading associations, and market intelligence providers.

Industry Knowledge

Our data is managed by our global team of more than one hundred Research Consultants, boasting years of research and industry experience. We utilize Consultants based in more than 15 countries to gather data. Our consultants have been trained in research techniques and ethics by the Market Research Society and The Association of Internet Researchers.

Statistical Analysis

We run hundreds of statistical tests on our data to find the strongest correlations between our sourced market data and correlated macro-economic datasets in order to ensure our data modelling is as accurate as possible.

We use the following techniques in our data estimates:
Correlation: Data gaps are filled using GDP, population, and value-added data as relevant to the market, including agricultural, industrial, and commercial value added.
Regression: Based on data for statistically correlated markets.
Extrapolation: Estimated from historic trend data.
Comparison: With related markets and countries for which hard data is available.
Alignment: Sub-markets are tallied with overall market sizes; country data is tallied with regional and global data.

Expert Validation

Every year, The Business Research Company carries out thousands of interviews with senior executives and industry experts across hundreds of markets. Through these interviews we develop our internal understanding of markets and geographies and cross reference our understanding of global markets with expert feedback by utilizing ‘Delphic’ research methodologies.

Continuous
Update Cycle

Our data and forecasts are updated in real time based on industry news and macro-economic events affect the market, such as company announcements, changes of government, trade agreements, or growth updates. In addition, every data point goes through an annual audit to recheck against data sources and update models and forecasts.

An example of this is that during the Coronavirus pandemic, assumptions were continuously updated in the light of the latest information, giving our customers the most timely and accurate forecasts as possible.

Trend Analysis Based Forecasting

Forecasts are based on the historic data trend of the given market offset for GDP. Forecast GDP growth/decline is then accounted for. Finally, our expert consultants add changes based on qualitative factors including political, social, and technological factors. Full explanations for these qualitative assumptions are laid out in our reports.

If you have a question related to the detailed methodology for a specific dataset, please use the ‘Contact Us’ function.