Mastering Industry Research Techniques: Insider Tips and Strategies for Success- Part 2

Welcome to the second part of the video. In this video we are going to understand how to find out the right industries using some statistics and trend and market analysis. Okay, in the last video we have seen about the basics of finding out interest, passion and everything. But we'll go a little deep. If you have not watched the earlier video and then the activity, please go back and comment because making the directly a second part of the video is not going to make a big difference.

Okay?

And also we are going to see how you can do the live research about the industry. How you can find out which industry is suitable for you, what are the trend, what are the analytics and and I'm going to show you live case study as well as a demo as well how you can do it on your own. Okay, let's jump in like let's say on the day one just to recap, we have seen the strategic industry targeting like how based on your interest, passion and desire and strength and weakness swot how we can find out certain strategic industries. Now we are going to find out the industry research techniques. Okay, how to do that? There are a lot of methods to do industry research, guys. And also after finding out the research you have to analyze also carefully and then we'll have to understand the needs of the market before going into the next steps. Okay, this is very, very crucial step. Let me tell you very honestly guys. No design college teaches you this, no design institute teaches you this. And nobody has that kind of a consciousness and mindset to also understand whether this is needed for you or not. And people who know this, they are very silently working and making progress. They're not going to teach you because they are busy in implementing that. This is most, most important golden nugget which is required for a product designer or a UI UX designer to get jobs really, really faster. Okay, look at it how it is important. So there are various methods to do research. One is online research, industry research, market analysis. You can network with people. So there are a lot more ways you can collect information. Okay, but let me tell you guys, 79% of the job seekers use online resources for job process which is a statistics by LinkedIn. So what does this say? People are already aware of that. So how you can do jagdish? You're saying this is important how I can find out which industry is good for me? You can use Google Trends, you can identify the popular search terms. You can go to industry reports from Nielsen. Norman, you can go for the Statista, which is a very good insight which I'm going to show you live case study as well. Okay, you can use ChatGPT. Sorry guys, you can use Chat GPT, you can use Google Bar. These are all the ways which you can build your research data carefully. Okay so I'm going to share you another tab where. Okay, I'm just sharing you a tab called Google Trends. So how you can find out in Google Trends what is really trending in the market in terms of your job like let's say design jobs. Okay, I'm just putting an example. Look what all the item it comes. Look how much people are searching for this. And also you can categorize based on India which country you want worldwide is which or if you want past 12 months data or if you want which categories like let's say you want something like let's say job and education. Okay, let's go for that. So now this is the exact design jobs topic which is trending in Tamil Nadu. The job search process most available Bangalore Pondicherry. And also you can see a lot of people are talking about topic like admin, office job, interior courses, freepik, monster jobs, hardware design, engineer, masters of design. So these are all the trending keywords available. Okay, so let's say Jagdish how for my industry I can able to find it like let's say user research. What are the exact trending keywords available or what are the exact trending topics going on? Okay, people in the Bangalore are searching most and you can see certification. So people are looking for research based courses and certification learning designer. So there are multiple ways you can interpret this data. Guys, you could find out there are many elearning industries opening up job opportunities. You could find out there are many market which is opening up with this kind of opportunities. And also you can find as a designer these are all the topics which is required to actually cross the certification and get a job. There are multiple ways you can analyze this data. Okay, what I'll do is I'll go to another tab and then I'll do a little research about. Yeah, just a second guys. Let me take Statista Google Trends. I showed you Nielsen Norman, you can try it out. And also I'm going to show you ChatGPT and other things also. But let me first understand Statista is one of the leading online statistics platform. This is really really a good one which I found recently. Okay, you can do online statistics, market research, business intelligence portal that provides you data on various industries including product design and UI UX design. Okay, so what Statista actually does it Actually provides a lot of data. It has huge source of data, guys. 22,500 data points are available here, okay. Which includes market research, institutions, trade publications, etc. It provides reports. See, we are not here to do an mba to do all this thing. We are going to understand as a designer, where is the gap? What is the market available? And based on that you can able to proceed your job application process and choose the right industries, okay? Nobody will go by this method. I already told you in the start of this video. Just have a patience till the end of this video. You will get a clarity, okay? Statistics and graphs and it will provide you some dossiers and it will provide you some forecast. This is what is majorly required for us because we required focus on how the market has really going to progress in the coming days. How as a designer, like let's say if you're learning product design plus AI plus data, you wanted to know whether the trend is there or not. Go to Google Trends, find out that, go to Statista, go and research about that. Okay, like let's say if I have to go for Statista, okay, I'm just typing out the keyword. This is a portal guys, you can able to find out, okay. Statista is a German online platform which can able to produce you real time information across the globe and across different different countries. Okay? It's available for everything. Now you can see this is the dashboard of that statistics. There is a simple search bar where you can find statistics forecastnet reports. Okay, like let's say I'll find out. Let's say if you're looking for a job in internship, okay, As a fresher in product design, maybe you're looking for something like a. Like let's say healthcare industry, Healthcare designers. Look what's happening. Pharmaceuticals health expenditure as a share of GDP in Pakistan, France. But let's sort it out how you wanted to find out. Like let's say in location, we'll find out India, okay? You can do for your country if you're from abroad. So you can find out something like India.

Okay?

Region wise you have sorted next under which territory you wanted. India is fine, no problem. You can leave that. Okay. After that you can find out what is the accuracy you want. Like let's say include all keywords. It's fine, we can have all keywords. What are the content you want? I want reports, I want market insights majorly, I want insights, I want forecast. Because I have to see what's happening in the industry exactly as it is. So then I Can able to find out the gap. How I can really make a big difference. Okay, so I've sorted out. See how I'm searching it very narrowed down.

Okay.

Here you can find out healthcare based industries.

Okay. Healthcare.

And I'll also find out fitness based industries which is also really good and suitable for me. Right now let's go for this medical technology. I'll go for this.

Okay.

I'll go for professionals in hospital health system. Okay, so now the search is there. Now the search is becoming very narrow. Maybe this search is not available. Maybe we will take out few key elements. Okay, You're. You're. If you're. If you're. Sometime the data is not available. You need to come back. You need to see how I can able to find out huge what you call little broader way. You have to search and narrow the search. Okay. You can try it out with multiple variations in your search process. So that you will know. Like let's say I'll go for industries again I'll choose all for now.

Okay.

I'll choose healthcare and fintech only example. Okay, so now you're seeing some kind of industry. 4.0 Market in Depth analysis. Pharmaceuticals in India, consumer insights. Okay, so now we are getting some insights. Let us go for statistics also. Okay. There is no statistics available.

Okay.

Let'S cross out everything guys. We needed a whole healthcare system data. Let's see how it is coming out. Okay, I'll go for this and I'll find out healthcare in whole.

Okay.

Look now the search is happening. See you can find. There is two searches only available. So these reports will be very useful for you. You can click that first. Understand? So you don't have to conclude everything on the first go. Over 2/3 of the consumers in India either use fitness or health applications. Sometimes even both. Among the popular apps for fitness apps are activity tracking or the given fitness instruction diet. So you can see there are two, three industries available where you can also intervene and you can also penetrate. Let's say nutrition apps. We'll take this nutrition apps that can measure some bodily functions, pulse rate. So this market is already there. This market is already there. The Statistra survey found that look at the health related topics such as health insurance e health apps. You can also apply for e health apps. You can also apply for health insurance companies. You can also apply for medical cannabis and also you can find out there are a lot of other Indian consumer based health related products. There are health related services. There are health related products. Please be very careful. You can apply for both Industries and there are a lot of sleep disorder problems, skin problem, digestive issues, cold. These are all the problems which people are facing. These hospitals and medical industries trying to bring out some solution for them and they're succeeding in that. All these three industries are the open market for you as a designer. Everybody needs website, right? Everybody needs digital applications, right? Everybody needs physical product also. Even if you're a UI designer, UX designer, ID designer, product designer, that doesn't matter. This trend is applicable for everybody. Okay see this is the trending topics available. So people have the characteristic and demographics and they've created a lot of surveys and found out between age 18 to 64 and you can see this information. You don't have to go and find out the detailed topic. That's not what is required. You'll have to pay for this report. We are not doing ethnographic research here.

Okay?

If you want you can do it for a company research through your company, not here. Okay, so how much weight do you have decode based on? Do you follow one or more nutrition plan? So these are all the questions which people ask. These are all the survey important information which people ask. So from this also you can find out what market is really looking for. Let's take nutrition based application. Okay, let's take nutrition based products are there. After you get that insight you have, you found out people are 1.1/3 of the people are looking for health, fitness, nutrition based application for their needs and services. Okay, you can go to chat GPT. You can go to chat GPT and what you can do is you can go for the search bar. Hey Chat GPT. I'm going to apply job. Okay, My chat GPT is behaving little weird today. I don't know what's happening.

Okay.

Just a second guys. Okay, maybe ChatGPT is not working. We'll go for Googlebot.

Okay?

But ChatGPT also pretty much does a very good job in terms of finding out the suitable industry. Guys. Okay, I'm just sharing the tab. Yeah, what is the search bar? Hey, can you find out what are all the nutrition based application designers in India? What are the nutrition based products available in India and what are all the websites and applications do they have? As a product designer, intern, fresher, how do I approach for this industries? Can you give me the trend analysis and report for this? Click enter. Okay, see what's happening. Calorie tracker. My fitness pal. Healthify Me Zomato Fit Nut Cult Fitness. Okay, See guys, how much industries are already there. And also they're also Suggesting how they can go and find out job and opportunities. So this particular Google Bart search is also producing a report of like let's say these people also search in this platform. Like let's say behance. And people also look for this nutrition based application and you can go for company website, job board. So I'm just collecting some basic information from there. Okay, I'm just going to another tab and then I'm pasting this particular MyFitnessPal. Okay so MyFitnessPal is one industry you can find out. What is this MyFitnessPal doing? You can also come back to Statistrat to find out fitness based nutrition applications. Okay, this is the website. See they have already an application. You already have the vacancy, right? Even they have the opening or not, you could still suggest to these companies that hey, this is the com. This is the problems you have. This is the exact situation you have. You can find out one problem in this industry. Our job is now to find out the patterns. Guys, don't worry about pitching, don't worry about talking to people. Recruiter of the MyFitnessPal that's not the point now. We'll do it little later. First let's understand what is this industry? What is this particular industry is actually making a difference. It has got good ratings. It is tracking your food and fitness fasting. It changes your habits and it helps you synchronize your steps, weight workouts more. So there are a lot of products, programs, what you call personalized plan. They have okay and also they are also providing some kind of a Q and A session. They are also providing some kind of a support system. They are also avoiding a feature. You can talk with their expert. So a lot of benefits is there in this particular website. So you can find some materials about in their blog. You can go to their community and read what they're asking for. You can find out their resource materials. Don't go to their career page. We are not doing that yet.

Okay.

Understand about their company and understand about their products and services and what gap they're really having.

Okay, like let's say.

See discover the impact of your food and fitness. Ready for some wins. Make mindful eating habit for life. So they're just having a kind of basic see how their user interface is there. If you're finding some mistakes here, if you're able to find out some things here, take a screenshot and you can make a case study. Also whenever you're pitching for this industry in the future you can tell hey, in your application I found this is the problems in your user interface. It's not engaging. See the loading time is very high. See the graphics is crashing. See sometimes it's not. It's producing the input. What I require if I come to the myfitnesspal it I'm getting confused whether I wanted a product or whether I wanted a service. So be little clear. I as a designer can help you design this. Very clear navigation. See I have my portfolio. Look at this. If you're interested you can call me for interview. This is how you can pitch for the industries, right? Because you know very clearly this is a trending industry. You know very clearly they are making good profits and they are having a huge market. You know, definitely there are designers doing. You don't have to wait for the market to open. Guys, you can create your own market by doing this research directly. Okay, I just told you very very important information just now in the last two minutes. If you're not following this, go back again and watch this again because lot of people don't understand this. Okay, See, look at this. Yeah, so this is one industry. And you can find there are many applications. Like let's say if you go to Statista again, okay. And if you find out more what you call cold and cough remedies, skin problems and you can find health insurance, you can find healthcare products. So a lot of information is there available here. Okay, you can, you could go and research it about more and you can also find out their competitors like let's say nutrition. I'm just typing out this keyword. You can find out what are the nutrition industries available. How as a designer you can able to find out more clarity in here. Like let's say if you talk for only India. Okay, I'll again sort for India.

Look.

Diets and nutrition in India you can read about some statistics. What's happening? Okay, you can find out as of March 2024, what are the statistics this report is available for you. Okay, you can find vegetarian, vegan meals flexitarian. You can find. I don't follow any nutrition plan. People are there. You can see low carb, people are 19%. You could use this research data to create a very good case study saying hey look, the market is having 28% of the people vegan. Why don't your company produce on vegan based products? I have a solution for this. I did my case study. You could do one day project and complete and pitch this guys because of this data, what you got, you can find out what is the exact industry trend and possibilities behind this Guys, this is what I told you. You can find out lot of things about Statista, what it does and then you can create huge impact over that. Okay, so this is one example which I showed you like. And also you could use Chat, GPT, Google Bard and you can find out lot more information which is available. Okay, so now I'm going to show you analyzing this data. I already told you how you can analyze using Google Search, how you can use analyzing using Chat, GPT, Google Bard and you can find the gap where the industry is really looking for. And also you can analyze the trend because I told you in health it is trending now, fitness is trending now, nutrition is trending now and 28% of the people are vegan. See now you're very clear on the market opening and you can offer your own solutions for that at least if you don't have solutions, you could propose something like I'm looking for an opportunity like this. This is the best way to target the right industries, right? This is most most important guys. And also you can find out Statista analysis and also provide something like, let's say it will produce you industry trends, it will produce a salary insight. If you're looking for a salary opportunity, you can, you can use this data to negotiate salary based on average market. You can find out job market what is available. You can find out the insights of the company. Yeah, you could do a lot of things in starter stuff. You can find out the educational insight. You can also find out what are the skills demand, what are the people who are networking in that, what are the industry events happening. Because this is the practical way of using it. See, I just told you. Using this you can create a very good value proposition for your industry. And you can pitch with a good salary also which you like. Go for Google Trend, go for Norman Nielsen Group, go for Statista, go for any other websites and find out that. Because if you are doing the market research analyzed properly, only you can able to win the market. I can tell you a lot of my students, guys, recently one of my student cracked 15 LPA, another student cracked 29 LPA. Another student cracked 13.5 LPA, another student got 10.5 LPA. All these things are properly happening because of the research and the methods what I teach them. This is what is the exact method I tell them. And a lot of people are also attending interviews. So this is exactly what I wanted to tell you in this video. If you are making this as a big impact, try to understand five industries in your niche in your segment using the statista and pin me in this video. What you have collected that information about. I wanted to see each and every industry what you're searching and I'll give you feedback. If you're doing this activity, you can be qualified to watch the next video. Okay, we'll see you in the part three. Bye Bye.