Find Industry Information
Industries are commonly classified by one of two systems:
- North American Industry Classification System (NAICS) - Expressed as a 2-6 digit numeric code: The first two digits designate the largest business sector, the third digit designates the subsector, the fourth digit designates the industry group, the fifth digit designates the NAICS industries, and the sixth digit designates the national industries.
Examples:
Sector 21: Mining, Quarrying, and Oil and Gas Extraction
Subsector 211: Oil and Gas Extraction
Subsector 212: Mining (Except Oil and Gas)
Industry Group 2121: Coal Mining
Industry Group 2122: Metal Ore Mining
NAICS Industry 21221: Iron Ore Mining
NAICS Industry 21222: Gold Ore and Silver Ore Mining
National Industry 212221: Gold Ore Mining
National Industry 212222: Silver Ore Mining - Standard Industrial Classiciation (SIC) - Expressed as a 4 digit numeric code: organized by division, the first two digits refer to a Major Group, the third digit refers to an Industry Group, and the fourth digit refers to a specific industry sector.
Examples:
Major Group 10: Metal Mining
Major Group 35: Industrial and Commercial Machinery and
Computer Equipment
Industry Group 356: General Industrial Machinery And Equipment
Industry Group 357: Computer and Office Equipment
Specific Industry Sector 3571: Electronic Computers
Specific Industry Sector 3572: Computer Storage Devices
When looking for sources on an industry, a good place to start would be by determining some keywords associated with the industry and by determining the codes for which NAICS and SIC classifications your business, company, or product could fall under. You can then use these keywords and codes to search business databases and reference materials for information on your industry. For industries that may not fit precisely under an industry described by a NAICS or SIC code, you can use the classification system to find industries similar to one you may have trouble classifying.
Be aware that while the codes themselves are centrally defined and standardized, the assignment by publishers of NAICS and SIC codes is not standardized. One publisher's interpretation of a company's primary industries may differ from another's, so be sure to check multiple sources and be aware of similar codes.
Industry Reference Materials
North American Industry Classification System 2012 by Call Number: HF1042 .N678 2012ISBN: 9781598885491Publication Date: 2012-08-01Published every five years, the North American Industry Classification System (NAICS) is an indispensable volume of official industry codes used by businesses, libraries, and other establishments and individuals to complete tax returns, grant requests, and fill out other forms and to improve analyses and comparisons of different industries.
Encyclopedia of American Industries by Call Number: HC102 .E53 2011ISBN: 9781414486833Publication Date: 2011-06-16The Encyclopedia of American Industries provides detailed, comprehensive information on a wide range of industries in every realm of American business. Industries within are organized by SIC code.
Industry Profiles
Industry reports can contain a wide variety of information, including but not limited to:
- Current Operating Conditions
- Industry Leaders
- Market Data
- Products
- Supply Chain Information
The following resources are likely places to find industry reports. Note that different sources cover different industries, though there is some overlap. If you can't find an industry report using one source, try the following.
- Consider changing your keywords to other synonyms that could represent that area (for example: "candy" or "confections").
- If searching by an NAICS or SIC code, try different codes within that same industry, or truncate your code search to just a sector or sub-sector (for example, searching for 51*. Then browse the results.
- Try a different resource (an industry encyclopedia or another database).
- Consult a librarian for assistance.
- Business Source Complete This link opens in a new window
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Select "Industry Profile" under the drop down list of Publication Types, then try searching for your industry by keyword or NAICS code. Useful search terms to pair with your Industry keyword or NAICS code include "market overview" or "report". Try also adding a publication search for "report" paired with your NAICS code. - IBISWorld This link opens in a new window
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Search by keyword, 5-digit NAICS code, or browse through the list of industry resources. Note that there are in-depth industry profiles that go beyond NAICS code guidelines: find those by browsing or searching by key word. If they are considered a segment of an industry classified by NAICS, searching for the NAICS code may also bring them up on the result list. - Mergent First Research This link opens in a new windowSearch for industry profiles via industry code or industry keyword.
- Mergent Online This link opens in a new windowIndustry profiles can be found in Mergent Online, searchable by clicking the Industry Analysis tab and selecting from several broadly categorized industries.
Industry Ratios
- IBISWorld This link opens in a new window
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Choose an Industry Report, and in the Table of Contents, select "Key Statistics" to review the industry ratios. - Key Business Ratios This link opens in a new windowOffers access to competitive benchmarking data compiled from public and private companies.
Some of this information is also available in print in Industry Norms & Key Financial Ratios, located on the 1st floor in the reference section of the Research Services room.
Call Number - HF5681.R25 I53.
Almanac of Business and Industrial Financial Ratios (2016) by Call Number: HF5681.R25 W55 2015 A45ISBN: 9780808041092Publication Date: 2015-09-15CCH's Almanac of Business and Industrial Financial Ratios is the first step in helping to determine a company's true measure of performance and value. The comprehensive resource puts 50 comparative performance indicators at the practitioner's command and covers all of North America (U.S., Canada, and Mexico) using NAICS data. The Almanac provides financial information that is calculated and derived from the latest available IRS data on nearly 5 million U.S. and international companies. The Almanac gives you accurate performance data for 50 operating and financial factors in 199 industries.
Industry Association Websites
- Google SearchSometimes a simple Google search is all you need to uncover industry association websites. Structure your search like this:
Industry description + association.
To search for associations related to the food services industry, you could try:
Food services + association.
If you're struggling to describe your industry in a way that will provide results, try looking up the NAICS code's keywords that pertain to the industry and use those.