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NAICS codes serve various key roles, including aiding government policy analysis, supporting businesses in strategicplanning, and providing tools for detailed economic analysis and comparison with the older SIC system. What is the North American Industry Classification System (NAICS)? economic data with global standards.
Is the data backward looking or is there forward-looking data regarding the market? The questions all go to the integrity of the data being used to assess fair and reasonable pricing. The FAS realignment provides an opportunity to address and improve data integrity and data driven decision making.
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