There are two classification codes used in industry analysis: the North American Industry Classification System (NAICS) code and the Standard Industrial Classification (SIC) code.
Created in 1997, 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.
The Standard Industrial Classification System (SIC) is the predecessor to the NAICS code. Some businesses still use the SIC code. Using NAICS and SIC is useful in finding and in comparing similar companies.