Determine which industry or industries your business fits into. Try to locate the industry NAICS or SIC codes which reveal how the industry is perceived in the hierarchy of business sectors. You can use these codes to search in many of our databases.
Look for sources that cover the industry. These include industry and market research reports, news sources, and various databases, as discussed under the Industry Analysis tab. Note also our resources on Government Statistics, which can help you locate key numbers such as market growth rates and a company's share of the market.
It's good to know who are the potential competitors in your industry. Consult the Company tab under the Business Research Guide to learn more.
Classification codes provide uniformity and comparability, making it easier to collect, tabulate, present and analyze statistical data.
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. NAICS is based on a production-oriented concept, meaning that it groups establishments into industries according to similarity in the processes used to produce goods or services. It is a two- through six-digit hierarchical classification system, offering five levels of detail. The NAICS system is good for identifying particular industries.
4-digit numbers widely used to classify primary business activity within a specific physical establishment. Originally designed to facilitate the collection, calculation, and dissemination of economic statistics. NAICS was developed to replaced the SIC code.
All companies in the Standard & Poor’s global family of indices have been classified according to the GICS structure. Many of the broad S&P indices are broken down into sector- and/or industry-level indices to provide performance measurements across these markets.
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