NAICS (North American Industry Classification System)

NAICS, or North American Industry Classification System, is a standardized system used by businesses, governments, and analysts to categorize and measure economic activity across North America. It assigns unique codes to various industries based on the type of products or services they produce. This helps in collecting, analyzing, and comparing economic data, government reporting, and business research. Essentially, NAICS provides a common language for understanding the structure of the economy, enabling better decision-making and policy development.