Technical Briefs - Methodology

BizMiner uses an industry classification system based on the 4-digit Standard Industrial Classification system. However, our system is much more granular, detailing about 10,000-17,000 lines of business in various report series. This system also allows us to present a much more in-depth level of trend detail than the current NAICS system used by the US and Canadian governments. It is most effective in developing industry trends, snapshots, experience-based forecasts and averages.

Statistics in our reports are always based on firms that identify a particular classification as their primary line of business. Not every business identifies beyond a Major Industry (2-digit) and Detailed Industry (4-digit) classification; not every business selects a more detailed line of business as its primary classification. This is important for researchers assessing market volume, which in our reports is based on businesses primarily in a given classification, and does not include sales data for firms which may operate this type of business as a secondary or tertiary line.

BizMiner's financial analysis series utilize industry-specific base data in conjunction with tested projections and algorithms to create a typical analysis for those industry segments for which complete detailed data may not be available. In particular, detailed business segment Industry Financial series asset line items are blended with the closest four digit industry segment. In our financial analysis series, projections which condition industry specific metrics are applied to expense and liability line item calculations for some highly granular industry segments.