Why use NAICS and SIC?
Although the purpose behind the creation of the NAICS classification system is specifically for governmental regulations and census reports, this system can be implemented in any business to classify customers and enable users to gain a clear perspective on target markets. This is one of the most common uses of the NAICS and SIC in the general market. For example, if your business sold equipment specific to dry cleaners it would be valuable to have a list of all the dry cleaners locally or nationally. To do this, you would look up the NAICS code specific to dry cleaners in a NAICS database (such as the NAICS to SIC InfoBase), then using a business database (such as PhoneDisc) you would get a list of all companies based on that code. Whether it’s statistical analysis, market research, or sales leads NAICS and SIC codes provide a valuable tool to get the information needed to succeed.
