Industry Classification
Industry classification codes are a standardized system used to classify businesses and industries based on their primary activities. These codes are often used by government agencies, researchers, and businesses to collect and analyze data. Some of the most commonly used industry classification codes include:
- North American Industry Classification System (NAICS): This is the standard used by the US, Canada, and Mexico to classify industries. It is organized into 20 sectors, with each sector further divided into subsectors, industry groups, and industries.
- Standard Industrial Classification (SIC): This was the standard used by the US government until 1997, and is still used by some researchers and businesses. It classifies industries into 10 divisions, with each division further divided into major groups, groups, and industries.
- International Standard Industrial Classification of All Economic Activities (ISIC): This is a global standard used by the United Nations to classify economic activities. It is organized into 21 sections, with each section further divided into divisions, groups, and classes.
- Australian and New Zealand Standard Industrial Classification (ANZSIC): This is the standard used in Australia and New Zealand to classify industries. It is organized into 19 divisions, with each division further divided into subdivisions, groups, and classes.
- Global Industry Classification Standard (GICS): This is a classification system used by financial analysts and investors to group companies into sectors and industries for investment analysis purposes. It includes 11 sectors, with each sector further divided into industry groups and industries.
The above classification methods are more traditional, and they don’t always meet the needs of modern-day requirements to classify/identify/analyze an organization.
Today, companies of all sizes are involved in several specialized capabilities - providing product and/or services - across a spectrum of capabilities, domains and functions.
Whether a company is providing “blockchain consulting” or “Biologics CDMO” such “capabilities” are not included in the several thousand traditional industry classification codes.
Therefore, at WowLeads, in addition to over 4000+ standard industry classification categories, we provide you the options of finding organizations across tens of thousands of additional keywords, capabilities related phrases to significantly improve the ability to reach your target prospects.