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Industry Research (Under construction)  

This guide will help students find library resources for their Industry Research project.
Last Updated: Aug 29, 2012 URL: http://libguides.lib.fit.edu/IndustryResearch Print Guide Email Alerts

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How to Conduct Industry Research

Classification Systems

NAICS (North American Industry Classification System)

NAICS (pronounced Nakes) is "the standard used by Federal statistical agencies in classifying business establishments for the purpose of collecting, analyzing, and publishing statistical data related to the U.S. business economy."

It is a two- through six-digit hierarchical classification system, offering five levels of detail. NAICS system is terrific for economic and business research applications.

  • NAICS FAQ
  • 2007 NAICS Sector Codes and Titles
    NAICS Designations:
    First two digits - economic sector
    Third digit - subsector
    Fourth digit - industry group
    Fifth digit - NAICS industry
    Sixth digit - U.S. industries.

    Example:
    51 = Information
    511 = Publishing
    5111 = Newspaper, Periodical, Books, etc.
    51111 = Newspaper Publishers
    511110 = Newspaper Publishers
  • SIC (Standard Industry Classification)
    Designed to facilitate the collection, calculation, and dissemination of economic statistics. “Establishment” oriented system - seeks to classify primary business activity within a specific physical establishment.
  • GICS (Global Industry Classification Standard)  
      
    GICS was designed to meet the needs of the investment community for a classification system that reflects a company’s primary business model as determined by its
    financial performance.

    GICS is much more appropriate for finance and investment research.
  • Industry and Occupation Classification System
    The purpose of the classification systems used in these indexes is to organize and to make understandable the many thousands of industries and occupations. These systems group titles describing like industries or like occupations into homogeneous categories and assign a code to each category

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