NAICS (North American Industry Classification System)
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. NAICS uses a production-oriented conceptual framework to group establishments into industries based on the activity in which they are primarily engaged. Establishments using similar raw material inputs, similar capital equipment, and similar labor are classified in the same industry. In other words, establishments that do similar things in similar ways are classified together. NAICS was introduced in 1997 (replacing most but not all SIC codes) and is periodically revised to reflect changes in the industrial structure of the U.S. and North American economy.