In private equity and consulting, speed and certainty are key to success. Yet, too often, deal teams rely on secondary data, such as outdated reports, recycled benchmarks, or aggregated figures. In a world where markets shift overnight, yesterday’s numbers can leave you blind. 

The reality is simple: in private markets, primary data, namely insights collected directly from current operators and decision-makers, is the only defensible source of truth. 

The Data Hierarchy: Why Secondary Isn’t Enough 

Not all data carries the same weight. 

• Secondary data: Public filings, analyst reports, and generic studies. Useful for context but often outdated before they are even published. 
• Syndicated reports: Offer broad trends, but lack the granularity needed for deal-critical questions. 
• Primary data: Direct conversations with industry participants, delivering insight into what is happening now, not last quarter. 
• A 2024 Accenture report highlights that PE firms making faster, data-first decisions consistently outperform their peers.
• Similarly, a Wolf & Co. study found that data-driven due diligence reduces surprises and accelerates value creation in portfolio companies.

Secondary sources may frame the picture, but only primary data fills in the details that matter. 

Real-Time Advantage in Private Markets 

Markets do not wait. Pricing shifts, competitors pivot, and regulations disrupt overnight. Firms anchored in last quarter’s data risk walking into deals with outdated assumptions. 

One Bell & Holmes client validated a looming supply chain disruption through a dozen targeted interviews in three days, weeks before it surfaced in the news cycle. That intelligence informed their investment thesis and helped avoid costly exposure. 

The point is clear: primary data is the only way to see around the corner. 

The Bell & Holmes Model 

At Bell & Holmes, we have built our approach on the principle that certainty comes from conversations, not assumptions. 

• Dozens of interviews per project, designed to balance qualitative depth with quantitative confidence. 
• Global reach: Interviews conducted in 140+ countries and 35+ languages, giving clients truly international perspective. 
• Speed: First results in 48 hours, aligned with deal and strategy windows. 
• Proven trust: Over 1,000 projects completed, a 98% retention rate, and consistent support for MBBs, Big Four, and top-tier PE firms. 

Unlike surveys, which deliver numbers without context, or expert networks, which often lock you into costly, limited rosters, Bell & Holmes sits in the middle: fast, scalable, and deep. 

Statistics That Underscore the Shift 

• According to Dakota, qualitative due diligence has become essential for PE investors, distinguishing between sustainable performance and one-off results.
• Accenture found that PE firms using real-time, primary-sourced data make decisions faster and with greater confidence. 
• CEPRES, which aggregates over $35 trillion in assets across more than 90,000 companies, notes that even advanced analytics rely on accurate primary inputs.

The consensus across the industry is that without fresh, operator-level insight, analytics and models are little more than educated guesses. 

Why Clients Choose Primary Data 

For private equity and consulting teams, the benefits are clear: 

1. Certainty: Decisions backed by real conversations with the people shaping markets today. 
2. Speed: Insights delivered in days, not weeks. 
3. Coverage: Access to markets and operators beyond the reach of databases. 
4. Confidence: Reduced risk of blind spots or reliance on outdated inputs. 

In time-critical due diligence, the cost of not having primary data is not just inefficiency: it is exposure. 

Private markets do not reward guesswork. They reward certainty, speed, and clarity. And those only come from primary research. 

At Bell & Holmes, our model, which includes dozens of expert interviews per project, delivered globally in 48 hours, ensures that clients never rely on stale numbers or recycled data. We provide insights aligned to the pace of deals, helping PE and consulting teams make decisions with confidence. 

Don’t build your next strategy on last quarter’s data. Build it on today’s reality—partner with Bell & Holmes for primary research at speed.