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MET315 Engineering Economics (Neuhard): Industry Classification Systems

Prof. Scott Neuhard

What are industry classifications?

"Industry classification or industry taxonomy organizes companies into industrial groupings based on similar production processes, similar products, or similar behavior in financial markets.  A wide variety of taxonomies is in use, sponsored by different organizations and based on different criteria."

Industry Classification Systems

Note:  In the United States the SIC code is being supplanted by the six-digit North American Industry Classification System (NAICS code), which was released in 1997; however certain government departments and agencies, such as the U.S. Securities and Exchange Commission (SEC), still use the SIC codes.