SOURCE: Industrial Info Resources

Industrial Info Resources

January 06, 2010 07:20 ET

Industrial Info Uncovers New Business Opportunities for Companies by Expanding and Improving Market Intelligence Around the World

SUGAR LAND, TX--(Marketwire - January 6, 2010) - John Egan for Industrial Info Resources (Sugar Land, Texas) -- "We hear a lot of talk today about how bad the market is, but there is still a tremendous amount of project spending around the world, if you know where to look," Ed Lewis, chairman and chief executive of Industrial Info Resources (IIR), said in an interview at the company's Sugar Land, Texas, headquarters. "The dynamism of the market means our market intelligence has to be more dynamic, more robust, and more personal, all of which helps clients focus their firepower and uncover new business opportunities."

Click here to listen to "Navigating the Currents of Change" webcast with IIR's Ed Lewis.

As 2010 begins, IIR clients already are benefiting from a number of significant changes that were implemented last year. "We launched a comprehensive review of projects in our databases and the results were staggering," Lewis said. "We touched or revisited about 18,000 projects in our database. We found that 2,085 capex projects around the world, with a total investment value [TIV] of $313 billion, had been cancelled or placed on hold. Another 5,919 capex projects with a TIV of $2.78 trillion had been delayed to 2010 or beyond.

"On the upside, we also uncovered 8,213 new capex projects with TIV of $1.87 trillion," continued Lewis, who noted that a large percentage of this project spending will take place outside North America. "Our goal is to work with clients and show them where the spending is, and where it is not. There is still a tremendous amount of project spending taking place around the world."

This comprehensive review also convinced Industrial Info that its research on project spending needed to be more frequently updated. "We live in an on-demand society," the IIR executive said. "Research that is not constantly living forward, or live, does not best serve the needs of our clients. That is why we are updating, confirming and reporting changes in project spending activity as it happens."

Industrial Info's new approach to doing business is called the Living Forward Reporting Principle™. It ensures that Industrial Info provides the most accurate and current daily news alerts and market intelligence on industrial project spending around the world, including capital projects, maintenance spending, analytics, and market forecasting.

"The Living Forward Reporting Principle™ guided many changes last year," Lewis said. "Our clients now have more current and accurate market intelligence, which can help them succeed in today's highly dynamic markets. Perhaps most significantly, we can now update and customize market forecasts like no other company in the industry. Our new approach ensures that clients receive up-to-the-minute forecasts based on the most current and accurate market intelligence. Our forecasts are based on granular detailed spending information that is current and not static or out of date."

The Living Forward Reporting Principle™ originated from the frequency with which Industrial Info reports on unit maintenance outage events. As the schedule gets closer to execution, Industrial Info's researchers are verifying the timeline of the event daily to ensure that the most accurate information is being reported.

This philosophy is being applied to IIR's project spending activity. When a project gets closer to scheduled events such as receiving approval, releasing bid documents or request for quotations (RFQs), our industry experts are reconfirming the schedule as well as the project scope, requirements and key contacts. Furthermore, once the project does start construction, IIR follows the project through to completion.

Based on client feedback, IIR also enhanced the "Ask Us" feature in its PECWeb online access and delivery tool to allow subscribers to email their inquiries to IIR researchers, which in turn, allows for a quick response (previously, these inquiries could only be made via telephone). The enhanced "Ask Us" feature also allows PECWeb subscribers to monitor the progress of their inquiries. Click here for an overview of the "Ask Us" feature.

"Growing when the market grows is relatively easy," Lewis concluded. "But growing when the market is declining, or stagnant, or shifting, means you have to dig deeper and work smarter. In organizing our business around the Living Forward Reporting Principle™, we are improving the overall quality of our market intelligence so that our clients can become more successful in 2010 and beyond."

Industrial Info Resources (IIR) is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy related markets. For more than 26 years, Industrial Info has provided plant and project spending opportunity databases, market forecasts, high resolution maps, and daily industry news. For more information send inquiries to or visit us online at

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