Librarian
What is a NAICS Code?
The North American Industry Classification System (NAICS) is the standard used by Federal agencies in Canada, Mexico and the United States to classify businesses based on their type of economic activity. The system uses a hierarchical coding structure which becomes more specific with each additional digit.
Image Source: IBISWorld
- Sector: 2-digit code
- Subsector: 3-digit code
- Industry Group: 4-digit code
- Industry: 5-digit code
- National Industry: 6-digit code
NAICS codes are particularly useful for conducting business research, and several library resources can be searched by the code.
Getting Started with Industry Research
This page lists databases and reputable news sources for finding industry information. The section below includes UD's subscription resources and recommended sites on the open internet where you can locate:
- Industry Profiles
- Industry Reports & Analysis
- Industry Financial Ratios
Looking for more detailed industry financials? Check out the Financial Information page of the Business LibGuide
Preparing for Your Search
Define your industry of interest. Many industries are made up of a blend of small and large companies, and some large companies operate in multiple industries. Begin by brainstorming keywords - and think about related terms. Databases may use different terms for the same or similar industry.
Look up industry designation codes. Many business databases can be searched by NAICS (rhymes with 'snakes') or SIC code. Searching with these codes can help narrow in on sources about a particular industry. To identify a NAICS code, search for an industry or company in one of these sources:
- NAICS Search: Search for an industry using a keyword or 2-6 digit code
- IBISWorld NAICS Code Lookup: Search for an industry by keyword
- SIC Manual: Browse or search for an industry using a keyword or code
Industry Profiles
Industry profiles contain overviews and analysis of a category of business. Some industry profiles will be very broad and some may be more specific. For best results, search with an industry classification code (e.g., NAICS, SIC, etc.) or industry keywords rather than a company's name.
- IBISWorld This link opens in a new window
Provides in-depth analysis of over 700 U.S. industries at the national and state level. Global industry reports are particularly strong in the manufacturing sector.
- Statista This link opens in a new window
Providing statistical data for over 170 industries in 50 countries.
- NetAdvantage This link opens in a new window
Updated daily. Provides a comprehensive, professional source of investment information and analysis on industries and companies. Full text coverage includes stock, bond, and mutual fund guides and reports; earnings and dividends reports; comprehensive company information; industry surveys for 52 major U.S. industries; and directories of companies, executives and security dealers
Industry Benchmarks
Industry benchmarks are average financial performance indicators against which to compare a company's numbers. In this way, they are used to gauge the financial health of a company.
- Bizminer This link opens in a new window
Startup and small business statistics, such as annual sales and market share, failure rates, & entrepreneurial activity rates. Reports available for states and local areas as well as the national level. Data includes access to 9000+ markets and more than 10 million companies.
