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when conducting research for an industry analysis, why it is necessary to treat with caution the economic statistics for an industry? the data are unreliable. measurement techniques vary across countries. they classify industries based on production technology rather than customer need. the statistics fail to account for changing technology. the classification system changes over time.

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Instead of considering client needs, they categorize sectors based on production technology.

An industry analysis examines a particular sector of the manufacturing, service, or trade industries. An crucial framework for the analysis of a certain firm, or company analysis, is to comprehend the industry in which it operates.

What does industry analysis serve to accomplish?

An entrepreneur or business can use industry analysis as a tool to better understand where their company stands in relation to other industry players.

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