In our recent dealings with a prominent Middle Eastern consulting firm, we encountered a bewildering “benchmark requirement” that was purportedly designed to ensure top‐quality industry classification. The brief required consultants to base their entire ISIC‐code benchmarking exercise on “standards” from the following institutions: The World Economic Forum (WEF) The World Bank Group – Global Indicators […]
Innovation is often hailed as the engine of economic growth. Yet, turning that slogan into actionable policy or strategic investment decisions demands something more than rhetoric—it requires measurement. One of the most powerful tools for benchmarking innovation is the patent system, where the output of research and development is documented, codified, and (with luck) protected. […]
Corruption in public procurement remains a stubborn challenge worldwide, siphoning off precious public resources, distorting markets, and undermining trust in government. For decades, transparency advocates and civil society organizations have sought new methods to detect and deter abuse—methods that go beyond anecdote or whistleblower testimony and instead use structured data to identify red flags. In […]
Health systems everywhere are under pressure to do more with less—to expand coverage, improve quality, and adapt to shifting demographic and disease patterns. But where should new clinics or hospitals be built? Which communities remain underserved? And how can policymakers ensure that resources flow where the need is greatest? Increasingly, the International Standard Industrial Classification […]
Anticipating shifts in labor market demand is, by any measure, one of the most important—and most difficult—tasks for policymakers. Vocational education, retraining programs, even university curricula: these are not easily or quickly adjusted. If anything, the lag between emerging economic trends and workforce preparation is growing. It’s for this reason that labor ministries and workforce […]
Economic classification systems are, by nature, a step behind the frontiers of innovation. The International Standard Industrial Classification (ISIC) system has served the world well—providing a backbone for economic statistics, policy analysis, and international comparisons. Yet, as artificial intelligence (AI), automation, and entirely new business models blur the lines between sectors, the challenge is clear: […]
Environmental regulation is rarely straightforward. While the public often imagines pollution control as a matter of setting limits and issuing fines, those closer to the process know it is fundamentally a challenge of information—of knowing who is responsible, how much they emit, and what actions are most likely to produce meaningful improvements. In this context, […]
E-government has become more than a vision of digital convenience. For many policymakers and businesses, it’s now a practical necessity—an answer to the growing demands for efficiency, transparency, and international integration. But as more economic activity spans borders, traditional administrative systems often become a bottleneck rather than a bridge. The International Standard Industrial Classification (ISIC) […]
As corporate social responsibility (CSR) moves from the margins to the mainstream of global business, the challenge for regulators, investors, and the public has become one of substance over style. Almost every large company publishes a glossy sustainability report, but comparing one company’s performance with another—especially across industries—remains notoriously difficult. The International Standard Industrial Classification […]
It would be difficult, perhaps even reckless, to talk about modern economic policymaking without at least mentioning the International Standard Industrial Classification (ISIC) system. Admittedly, it’s an arcane topic at first glance—a rigid, hierarchical code system, dense with numbers and nomenclature. But scratch beneath the surface and it becomes clear: ISIC codes are something like […]
Crises do not strike all sectors equally. Whether it’s a pandemic, earthquake, typhoon, or other sudden shock, the contours of economic disruption—and the priorities for recovery—are shaped by the underlying structure of the economy itself. For governments and agencies tasked with crisis management, the International Standard Industrial Classification (ISIC) system has become a critical tool: […]
Risk is the business of insurance. For centuries, underwriters have weighed the likelihood of loss—whether from fire, theft, accident, or natural disaster—to set premiums that are both fair to policyholders and financially sound for the insurer. The evolution of this process, particularly in an era of big data and complex supply chains, has made industry […]
Digital transformation is no longer just a buzzword. It’s reshaping the very structure of economies, affecting everything from GDP composition to the rhythms of everyday consumer life. Yet for all the rhetoric, measurement remains a challenge. Where does one locate “digitalization” in national statistics, and how can policymakers—or analysts—track its trajectory with any confidence? Here, […]
For as long as economists have tried to measure economic output, the informal sector has remained a persistent blind spot. It is—depending on one’s point of view—a source of resilience, a policy headache, or simply an empirical challenge. What is clear is that informal businesses, by definition, operate outside the purview of formal registration systems. […]
Organized crime is a remarkably adaptive adversary. It thrives on complexity, moving illicit funds through layers of seemingly legitimate activity—frequently faster than regulators and law enforcement can respond. In this ongoing battle, one of the quiet but powerful tools at the disposal of investigators is the International Standard Industrial Classification (ISIC) system. By linking business […]
If you want to understand a region—truly understand its economic DNA—there’s no shortcut. You have to dig into the data, yes, but also pay attention to how that data is organized. Too often, we fixate on the numbers and forget that the framework shaping them is just as critical. This is where the International Standard […]