Industry Classification object

This page describes the industry_classification object, which represents the automated classification of a business into industry categories. Industry classification uses web analysis and other data sources to determine a business’s industry, providing NAICS, SIC, and MCC codes along with risk indicators.

Example JSON response

1 {
2   "object": "industry_classification",
3   "id": "f074244d-5cf3-4703-950a-73a7d54ee555",
4   "status": "completed",
5   "categories": [
6     {
7       "classification_system": "NAICS",
8       "name": "Software Publishers",
9       "sector": "INFORMATION",
10       "category": "SOFTWARE_PUBLISHERS",
11       "score": 0.92,
12       "high_risk": false,
13       "naics_codes": ["511210"],
14       "sic_codes": ["7372"],
15       "mcc_codes": ["5734"],
16       "prohibited_labels": null
17     },
18     {
19       "classification_system": "MCC",
20       "name": "Computer Software Stores",
21       "sector": "RETAIL",
22       "category": "COMPUTER_SOFTWARE",
23       "score": 0.85,
24       "high_risk": false,
25       "naics_codes": ["511210"],
26       "sic_codes": ["7372"],
27       "mcc_codes": ["5734"],
28       "prohibited_labels": null
29     }
30   ],
31   "created_at": "2024-01-30T23:49:01.100Z",
32   "completed_at": "2024-01-30T23:49:15.200Z"
33 }

Industry Classification attributes

Attribute	Type	Description
`object`	string	The object type. Always `industry_classification`.
`id`	string (uuid)	The unique identifier for the industry classification.
`status`	string	The processing status. Possible values: `pending`, `completed`, `failed`.
`categories`	object[]	An array of industry category classifications.
`categories[].classification_system`	string	The classification system used. Possible values: `NAICS`, `MCC`, `Prohibited`.
`categories[].name`	string	The human-readable industry name.
`categories[].sector`	string	The industry sector in CONSTANT_CASE format.
`categories[].category`	string	The industry category in CONSTANT_CASE format.
`categories[].score`	float	The classification confidence score from 0.0 to 1.0.
`categories[].high_risk`	boolean	Whether this industry is considered high risk.
`categories[].naics_codes`	string[]	NAICS (2022) classification codes.
`categories[].sic_codes`	string[]	SIC classification codes.
`categories[].mcc_codes`	string[]	MCC (Merchant Category Code) classification codes.
`categories[].prohibited_labels`	string[] \| null	Prohibited classification labels if applicable.
`created_at`	timestamp	The timestamp when the classification was created.
`completed_at`	timestamp \| null	The timestamp when the classification completed processing.

Classification systems

System	Description
`NAICS`	North American Industry Classification System - the standard used by Federal statistical agencies to classify business establishments.
`MCC`	Merchant Category Code - a four-digit code used by payment card networks to classify businesses by the type of goods or services they provide.
`Prohibited`	Indicates industries that may be prohibited for certain use cases or compliance requirements.

Status values

Status	Description
`pending`	The classification is currently being processed.
`completed`	The classification has been completed successfully.
`failed`	The classification could not be completed.

High-risk industries

The high_risk flag indicates whether an industry is generally considered higher risk for compliance purposes. High-risk industries may include:

Money services businesses
Gambling and gaming
Adult entertainment
Cannabis-related businesses
Cryptocurrency exchanges
Firearms dealers
Telemarketing

The specific determination of high-risk status may vary based on your organization’s risk policies.

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