Watch the video above to learn how to choose the correct industry codes during the data gathering process in RISR.
RISR uses North American Industry Classification System (NAICS) codes to classify businesses by type of economic activity. You can search for industries with up to 6-digit specificity, which helps you choose a more precise fit for the business you are working on.
Industry codes (NAICS codes) are essential for accurate business valuations. Selecting the right code ensures your valuation models use the appropriate industry benchmarks and comparisons.