How do you actually trace second-order effects after a market event?

Curious how people here handle this in actual research.

A big headline hits. The obvious names usually are not that hard to find.

What takes longer is figuring out what else it touches.

Suppliers, customers, competitors, adjacent sectors, or companies with exposure that is not obvious from the headline.

Is that mostly sector knowledge and knowing where to look, or do you have a repeatable process for it?

I usually end up bouncing between news, filings, transcripts, search, and notes. Finding possible connections is not really the hardest part. It is deciding which relationships are meaningful enough to spend more time on.

I have been building around this problem, but I do not want to turn the post into a product plug, so I am leaving the product out of it for now.

For anyone in ER, AM, HF, INV or who does this regularly:

Where does the process take the most time?

What evidence would you need before trusting a relationship between an event and a company?

And what part of this process would you never trust software to handle automatically?

Interested in how people actually do this, not the ideal version of the workflow.