Question
Can someone help me determine what the NAICS code for data analytics is? The closest I've come up with is 518210, but I don't think it is quite right.
Answer
I’ve looked up the NAICS codes for a few data analytics companies on Mergent quickly.
Data Analytics is one of those industries, I think, where not just one NAICS code fits. In terms of the big data analytics companies, most are classified under 518210, but I think this refers more towards companies that providing data hosting related services, such as data storage or data processing services, not necessarily the analysis aspect itself.
Most major data analytics companies are also classified under NAICS 511210 – Software Publishers (if it’s proprietary software that they sell or use), and often a secondary NAICS of 541511 – Customer Computer Programming Services, and 541512 – Computer Systems Design Services
Data Analytics is also often interchanged with Business Analytics. For Business Analytics, there is sometimes a qualifier used in regards to the Software Publishers NAICS of 51121c. This is how IBIS World classifies the NAICS for their Business Analytics & Enterprise Software Publishing, for example: <https://www.ibisworld.com/industry/default.aspx?indid=1989>
But I think the big division to be aware of regarding Data Analytics is whether or not the company is involved in creating or selling software related to data analysis, in which case it would fall more towards the Software Publishers NAICS of 511210, or if the company uses existing software to perform data analysis, in which case it would fall more towards the Customer Computer Programming Services NAICS of 541511.
