Question

What is NAICS and it’s importance?

Answer 1

Answer: The system is the standard used by federal statistical agencies for classifying businesses for the purpose of collecting, analyzing, and publishing data related to the U.S. economy.

Answer 2

The North American Industry Classification System (NAICS) is the standard used by Federal statistical agencies in classifying business establishments for the purpose of collecting, analyzing, and publishing statistical data related to the U.S. business economy.