NAICS Code 541910-04 - Economic Research & Analysis

Marketing Level - NAICS 8-Digit

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NAICS CODE 541910-04
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NAICS Code 541910-04 Description (8-Digit)

Economic Research & Analysis is a subdivision of the Marketing Research and Public Opinion Polling industry that focuses on analyzing economic trends and data to provide insights and recommendations to businesses, governments, and other organizations. This industry involves conducting research on various economic factors such as market trends, consumer behavior, and financial data to help clients make informed decisions about investments, pricing strategies, and other business operations. Economic Research & Analysis professionals use a variety of statistical and analytical methods to interpret data and develop forecasts and projections.

Parent Code - Official US Census

Official 6‑digit NAICS codes serve as the parent classification used for government registrations and documentation. The marketing-level 8‑digit codes act as child extensions of these official classifications, providing refined segmentation for more precise targeting and detailed niche insights. Related industries are listed under the parent code, offering a broader context of the industry environment. For further details on the official classification for this industry, please visit the U.S. Census Bureau NAICS Code 541910 page

Tools

Tools commonly used in the Economic Research & Analysis industry for day-to-day tasks and operations.

  • Statistical software such as SAS, SPSS, and Stata
  • Data visualization tools like Tableau and Power BI
  • Econometric models and forecasting techniques
  • Financial analysis tools such as Bloomberg and Capital IQ
  • Survey design and analysis software like Qualtrics and SurveyMonkey
  • Geographic Information Systems (GIS) software for mapping and spatial analysis
  • Excel and other spreadsheet software for data manipulation and analysis
  • Programming languages such as Python and R for data analysis and modeling
  • Web scraping tools for collecting data from online sources
  • Text mining and natural language processing software for analyzing unstructured data

Industry Examples of Economic Research & Analysis

Common products and services typical of NAICS Code 541910-04, illustrating the main business activities and contributions to the market.

  • Economic consulting firms
  • Financial institutions
  • Government agencies
  • Non-profit organizations
  • Market research firms specializing in economic analysis
  • Investment banks
  • Insurance companies
  • Real estate firms
  • Energy companies
  • Retailers

History

A concise historical narrative of NAICS Code 541910-04 covering global milestones and recent developments within the United States.

  • The Economic Research & Analysis industry has a long history dating back to the 18th century when the first economic treatises were published. The industry has since grown to become a vital part of the global economy, providing valuable insights into economic trends and patterns. Notable advancements in the industry include the development of econometric models, which use statistical methods to analyze economic data, and the rise of big data analytics, which has enabled researchers to analyze vast amounts of data quickly and accurately. In the United States, the industry has seen significant growth in recent years, driven by the increasing demand for data-driven insights in business and government decision-making. The industry has also been impacted by the rise of digital technologies, which have enabled researchers to collect and analyze data more efficiently than ever before.