There are websites on the internet that have spent millions of dollars in research to categorize and rank statistical aspects of all their products. The purpose of doing so was not to benefit us internet marketers, rather to make it easier for their customers to find a helpful and useful product easier.
Amazon for example is one of the best websites that internet marketers can use to tell if they should go into a certain niche or not.
The worlds largest reseller of offline books in the entire world is Amazon.com. On the left hand side of the website you will see that all of their books are categorized and broken down into specific niches and sub-niches. We can scan through those niches to see just what books are selling the best. Amazon uses a ranking system on their website that displays the top selling books first.
When I do my market research, the first thing I do is go to Amazon just to see if there are any good books in the niche I am researching in. If I find that there are a number of really hot books in that niche, then I will most likely be able to sell an E book online for that same niche. If the books are selling offline, there is no reason why they shouldn't be able to sell online.
Once I realize that there are a few very good selling books offline, I then have to check how popular the niche is on the internet. What I do is type in the most popular keyword or keyword phrase using Googles Adwords Keyword tool.
If the results from that search show plenty of results that are gaining 1,000 or more monthly searches, then I might have found a niche worth pursuing.
The last thing I do to test the market is check the competition of those keywords. This is easily done just by typing in the keywords into Google with the quotation marks. This will give me the exact search results for that particular keyword or keyword phrase. If I find a bunch of those keywords that result in 20,000 or less results, then I know I can get plenty of traffic to my website and it is then worth pursuing.
I can usually find out if a niche is going to be good or not in just a matter of minutes. There are plenty of other ways online to see how hot a niche might be. It will take some searching, but there are plenty of untapped gold mines out there just waiting for you!