What are NAICS, SIC and ISIC?
NAICS, SIC and ISIC are all systems for industry classification. NAICS is more country-specific than the other two which will be clarified below, but all data collected is accurate and authenticated.
NAICS stands for the North American Industry Classification System and is used to collect statistical data for analysing and distributing for the US business economy. All NAICS codes have 6-digits and are part of a hierarchical system whereby the top sector, (Level 1) is the least specific to the industry and Level 5 is the most specific, directing users to the desired industry.
NAICS groups services which do similar things such as service or goods production together and by being for government use, the results are exact and reliable.
SIC stands for Standard Industrial Classification and uses 4- digits to categorize industries. These industries are then classified into 4 levels.
SIC is mainly used for business targeting the private sector, as it assembles together industries based on production or demand.
ISIC means the International Standard Industrial Classification of All Economic Activities, and is the system in which data is classified on both international and national levels. It is structured in a hierarchical 4-level classification system.
ISIC provides data that assists in employment demographics including enterprises as well as statistical national accounts.
Want to populate these values in Salesforce?
IndustryComplete provides Salesforce users with NAICS, SIC, and ISIC data searches within Salesforce. Just start typing and you’ll be able to select the relevant industry which will automatically populate the relevant classification onto your Salesforce accounts.
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