What Is NAICS And How Is It Used?

The North American Industry Classification System (NAICS) is the standard used by Federal statistical agencies in classifying business establishments for the collection, tabulation, presentation, and analysis of statistical data describing the U.S. economy. By using a standardized system, it is beneficial for presenting statistical data in a uniform and comparable way.  NAICS are a 6-digit classification system that is also used for target marketing and building business lists. Pronounced as “NAKES”.