Harvard University professor Michael E. Porter developed the widely-used Five Forces framework to determine profitability and intensity of competition within an industry. IBISWorld industry reports are closely aligned with this framework. This IBISWorld article explains how to use IBISWorld reports to perform a Five Forces analysis. Porter's 5 Forces can help decision makers understand industry strengths and weaknesses to gauge the viability of a new business or evaluate strategies in established businesses
What is NAICS? The North American Industry Classification System (NAICS) 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.