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What is a NAICS code and why is that important to note?
A: The NAICS codes stands for North American Industry Classification System. According to the United States Census Bureau the NAICS codes “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” (para. 1, 2022).
These codes also benefit you as a researcher. Depending on the company you are interested in analyzing, knowing the industry the company operates will lead you to additional information about that company, the industry, its competitors, the operating conditions, and industry performance and outlook.
You can find the NAICS code for your company in a few of the Regis Library business databases. For example, in Mergent Online when you perform a company search each profile will provide you with company information including the NAICS classification. It would be handy to jot this number down for subsequent searches in other business databases like IBISWorld or Business Source Complete.
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