There are various benefits of conducting business research. Firstly, it can help businesses to communicate with their stakeholders like customers, suppliers etc. They can derive important conclusions through business research. Secondly, it helps businesses to identify the opportunities and threats. Thirdly, risks and uncertainties can be minimized through business research. Business research is very important for evaluating the progress of the business and to exploit more opportunities. It can help the businesses to track their benchmark and to avoid any loss which they can incur without having market and business information.