This article explains the Industry Classifications section on the Company Overview page, detailing the significance of industry codes and how they categorize a company's business activities.
The Industry Classifications section on the Company Overview page categorizes a company's business activities according to standardized industry codes. This guide will help you understand the significance of these classifications and how they are used.
1. Industry Codes
- Definition: Unique codes assigned to different industry activities. Each code represents a specific type of business activity.
- Importance: These codes help in identifying the primary and secondary business activities of the company.
2. Classification Systems
- Examples: UK SIC (Standard Industrial Classification), NACE (Nomenclature of Economic Activities), and UN ISIC (International Standard Industrial Classification).
- Importance: These systems provide a standardized framework for categorizing industries, which is essential for regulatory, statistical, and economic analysis.
3. Detailed Descriptions
- Definition: Each industry code is accompanied by a detailed description of the business activity it represents.
- Importance: These descriptions provide clarity on what each code entails, helping users understand the specific activities the company is involved in.
4. Usage in Analysis
- Definition: Industry classifications are used for various analyses, including market research, economic forecasting, and policy-making.
- Importance: They enable analysts and researchers to compare and contrast different companies and sectors accurately.
Note: We get our information from government sources. However, if a field is empty or incorrect, you can contribute updates using the contribute button on the page, and we will assess and inform you of our decision.